I always thought about getting involved in real estate investing, but for one reason or another I never got started, I have read a couple of books here and there and attended a seminar or two, but I never followed up on it, but now I feel that I am ready and I am trying to figure out what is the best way to get started, I know that there is a lot of real estate courses out there, but a lot of them are very expensive and then there is so many real estate gurus out there that I am not sure who to trust. Any advice will be greatly appreciated. Thank you.
Have you selected a specific area of REI to get involved in? (i.e. flipping, wholesaling, short sales, etc.)
What are your goals long term and short term?
Thanks for your response, to start out the area I am looking into is flipping, and my short term goals are to make as many deals as possible and become a successful investor. My long term goals are to eventually get into buying larger investment properties such as an apartment complex. Thanks.
Great. Take some time reading through the Bird Dogs Wholesaling Forum. It also encompasses Flipping. I am sure that any question you may have, has been asked once or twice and answered. Use the search function at the top of the page below your screen name.
If you do not see it, feel free to ask questions. We look forward to your involvement and success.
If you think you can now start with real estate investment my suggestion is get a real estate agent as a partner because he/she can guide and help you to have successful investment.
I agree with Mdhaas. You have to first know what type of investing you are planning on getting into. Most of this depends on what your situation looks like. Do you know what route you are planning on taking? Once you have this figured out I am sure that we will be able to get into detail on helping you with your plan.
Obtaining the basic knowledge of real estate investing can help you decide which aspect of real estate you would want to pursue, when you identified which field you are going to venture, asking for professional advice will help you, attending seminars too, and taking online studies can help.Of course, action is more important to test what you’d learn.
The absolute best thing you can do is to go to your local real estate investing meeting. Shake hands and meet with everybody. Single out investors who are focused in different areas of investing. So for example find a guy or girl who does nothing but wholesale. Then find someone different who does nothing but L/O’s. Do the same and find someone who does nothing but Sub2’s. Here is what you do. Have them mentor you. You can offer for example to answer some of their mundane calls say, in exchange for them allowing you to follow them to client visits or whatever. Or you could put up some signs for them in exchange for you listening in on their calls whlie they are negotiating with sellers (your on mute by the way on that conference call). Point I’m making is to get a local mentor/investor who is doing it, and take some sort of action. Reading books and seminars I can tell you from experience are great, but only are like 1/2 the story. You need to get out there and actually apply what you’ve been reading. It is a much different world if you ask me compared to the safety of reading or being lectured in a seminar type of thing. Teaming up with a local investor and doing this barter-type of mentoring I’m suggesting not only helps you not make as many mistakes in the real world of investing, but also speeds up your learning BIG TIME. The investor/mentor wins in that scenerio too because they get free labor from you. Win-win proposition.
Don’t buy guru stuff right away.
Learn the fundamentals first.
What kind of properties to look for, how to buy them, what prices, etc etc.