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If you are a beginner and confused about real estate, then I would suggest buying the Carleton Sheets course (you can probably get it on E-bay cheap if you don’t want to spend a lot of money). The Carleton Sheets cours is a very comprehensive beginner’s course and contains everything you need to learn the basics. After you understand the basics, you can decide which area of real estate you want to pursue. I certainly would not spend hundreds or thousands of dollars on a course at least until you know what you want to do. Even then, there usually isn’t a need to spend that much money unless there is a certain niche that you are pursuing and a specific course will offer specialized knowledge that you can’t obtain elsewhere cheaper. Remember that there is NO SECRET to real estate investing. Any guru that is promising to reveal a “SECRET” is certainly not being real.
I would also STRONGLY suggest that you join your local REIA and make friends with the SUCCESSFUL investors in your area. Your new friends will be happy to help you.
Good Luck,
Mike
Kevin D. (ps… I’m in Dallas/ft worth, TX in case that matters)
I would agree join your local club however dont go too often… and leave your credit cards at home… Some members make a career out of going to these meetings and have a library of books and CDs they have never read or listened to.
As for whether its LeGrand, Sheets, Manny, Moe or Jack doesnt really matter yet as you dont know what type of investor you want to be…
If you look at Mike (PropertyManager) he is a successful Property Owner… Meaning he likes rentals. You should contact him to see why he does what he does and how this type of investing effects his lifestyle of choice…
Myself I hate rentals so I buy and flip… Massive profits over passive profits… I also like investing the no cash no credit method… It has its upside and downside… And anyone who tells you this business is a non money business is flat out lying. Can be however Instantly profitable.
Then somewhere in the middle is John Locke. He Tends to buy no cash/credit and sell on a CFD and enjoys that method… Both massive and passive.
One of the constants with the three of us is that the method we use is profitable for us. And I dont believe any of us ever went to a boot camp presented by someone else
Thanks Prop.Mgr and Michael… Q: so you recommend a local REI… I think I have info on several… do you have a recommendation of which? Do you think one or two are the better of the 5 or 6 I have info on… (the ones I have are all in dallas… most meet once a month) ps any knowledge of “Ray Alcorn”? or Sherry Watson? (she does Grant Money stuff)
Michael, the 3 examples were all Res. I assume. Any commerical? Your opinion Good/bad on commerical? If good, would the same advice apply… meaning, hook up at the local REI??
thanks for the help/advice
I recommend checking out as many REIA clubs by you till you find one that suits your needs. They are all alittle different and some better than others.
As for the grant stuff. Most of that is BS. learn one aspect of the business first. Using Grants for REI takes time and knowledge. You have to learn to crawl before you can walk. Using grants to develope is more like running with some hurdles at times.
Propertymanager,
So you think Carelton Sheets is a good start? I always thought that he was another one of those "late night gurus". I think I've seen one of his packages that are like $120 but I never gave it a second thought. What's the most you would pay for Carelton Sheet's latest course?
In order to properly address what course you should buy you need to identify 2 key elements.
#1 Where are you know? What resources do you have to work with? do you have good credit and lots of cash or do you need to generate cash and have bad credit?
There are excellent investment strategies for just about any situation that you are in, but you need to know what resources that you have at you disposal in order to identify them.
#2 What is your ideal future in real estate look like? Do you want to be a hands on rehabber, a landlord dealing with tenants, a hands off landlord with a management company, or maybe a real estate wholesaler who doesnt need cash or credit.
This is the formula that I developed for my investing life and it seems to hold true for everything but landlording, in the case of landlording you can eliminate the finding buyers part until you decide to sell.
Find Buyers+ find Sellers + Finding Financing + Negotiation + X = PROFIT (x= exit strategy)
So you think Carelton Sheets is a good start? I always thought that he was another one of those "late night gurus". I think I've seen one of his packages that are like $120 but I never gave it a second thought. What's the most you would pay for Carelton Sheet's latest course?
I bought the course new on the recommendation of a successful landlord that has about 150 rentals. I had asked him what course he recommended for someone that wanted to get in REI and he said that the Carleton Sheets course was an excellent beginner’s course. I think I paid about $350 including all the videos, etc (although I could be wrong about the price). I spent every waking minute for a week studying the course and then bought my first rental. Well worth the money!
Mike
Thanx. It’s good to kow. I first saw him on TV in 1988. I haven’t seen him lately, but I’ll give it a second look. I’m sure I can get it on the cheap. Thanx again.
Hey Propertymanager, I just bought the Carelton Sheets course on e-bay for $40. The DVD’s are still in the wrapper! I remember when it was like $350 way back when. We’ll see what develops. Thanx again.
Mike
I did the same thing about 5 or 6 years ago for the same price (still in the wrapper)…if you pick up a single item that helps you, it’s worth it.
Keith
I feel the same way. I’m lokking forward to getting it.
The DVD's are still in the wrapper!
Just think, some wannabe probably spent $350 for the course and then didn’t even open the DVDs. You’ll be ahead of that sucker if you just unwrap the DVDs!!!
Good Luck,
Mike
I have the Carleton Sheets CD’s and movies. It gives you a really good basic idea on what Real Estate is about. He makes things seem REALLY easy. Which I guess he has to do so people will continue buying his stuff because if it was hard people would give up.
LOL. You’re right about that Propertymanager. It’s amazing how things turn out. When I first saw this on TV in 1988, I almost bought it then. But everyone I knew said it was a scam. I’m amazed that I listened to them. Back then I had all the answers and didn’t didn’t listen to anyone. Some of the negatives I’ve heard was that the course is too complicated. I think it may be the people who just want to spoonfed. Anyway, the course has a 14 day money back guarantee. It should be here in a few days. Propertymanager, how did you get your first property? Maybe someday we can be on his yacht doing his infomercial as one of his million dollar students :beer
Funny you mentioned that - I heard a story from an investor in the area, about a guy he knew who was also buying properties. The guy had alot of properties, but it was all over leveraged. Well he tells me he is watching Sheets show and this guy is on there touting how he’s made millions and while he is on the show, there was another investor buying his properties from the banks. The guy was just on the show lying about how much money he had while all his properties were being repossessed by the banks!
LOL