I am really interested in investing in real estate . I sold my company a few years ago and now want to do something new . Could someone please tell me if any of these people that sell real estate seminars/books (calton sheets ,etc) : have ever made money from real estate investing ??? I think they make money from selling books.
And have you made any real money from their techniques ?
Ed
The Sheets course explains the techniques for investing. These techniques are true and you can follow them. They are not set up for you to use all the techniques, but to introduce them to you so that you can decide what you will concentrate on. Remember Donald Trump did not buy Ron LeGrande’s course in order to get started. What he did was use good business principles. You can do the same. You do, however, need to understand the rules and opportunities available for you to use.
The concepts I use are very basic and I didn’t learn them from the Sheets course I bought. The specifics of your area can’t be taught by one of these courses either. What I basically did was found a team that understood what I was trying to do. They analyzed my abilities and resources and we then developed a strategy. My team consists of a real estate agent, a CPA a lawyer and a mortgage broker. I found them all at my local real estate investor’s club. The average professional does not understand what we are trying to do, nor the options available to us.
For example most real estate agents can help you find a fine place to raise your family, but they have no idea what house will make money. Most mortgage brokers may not understand what effect a certain financing will do to break a deal. The average lawyer may not understand how to protect you when you take the kinds of risk that we have to take. The average CPA may not understand the balance sheet allocations that we will be in and the ramifications of them. The types of these professionals that you find at your local real estate investors club, do understand these issues. If you don’t want to buy one of these courses, join the local real estate investor’s club.
Hi,
To my knowledge, at least one guru made a fortune applying the principles he described in his writings.
It was late William Nickerson, who till 1986 managed to adquire more than $10 Million dollars as stated by appraisers hired by his publisher: Simon & Shuster.
You may verify if you want…
Paulo
Robert Kiyosaki probably still invests and most people would agree his books are good. I also believe Gary Keller is big on real estate investing. At first, I didn’t like his “Millionaire Investor” book, but it covers a lot of ground for beginners.
Both still probably make more on books and seminars.
I know for a fact Robert Kiyosaki still invests on the other hand I would have to say his books are more business related not real estate. I would recommend reading his books for good business practice but not for real estate!
I still think he invests in real estate, but I’d agree that his books are probably related to the business and mental side of investing.
And I think we would both agree that is the most important part anyway if your mental side is shot and you sit on the phone saying uhh And ummm and uhhumm nobody will call you back!!
He will definitely get you a business plan and teach you through his writing!
“For example most real estate agents can help you find a fine place to raise your family, but they have no idea what house will make money.”
Within our office there are some 55 Agents specializing in various disciplines of real estate.
We have a few who work primarily with investors. Search them out when looking for an Agent.
Personally…I’ve performed aprx. 4500 valuations. I’ve a mountain of experience completing Operating Income Statements, Rent Schedules, utilizing GRM’s, and I’ve an intimate knowledge of the Income Approach for residential appraising.
I’ve appraised Bank Owned, FHA & VA foreclosures (known in the business as REO’s). Those clients wanted “as is” value, estimated cost of repairs, and “as repaired” value. They wanted my opinion on whether to sell it “as is” or “as repaired.”
I’d have to say…I’m an expert on “what house will make money.” I’ve been rated statistically (highly) by the marketplace.
Having said that, I have colleagues who specialize in different arena’s…that don’t know what an OIS is. That doesn’t make them ignorant Agents…it simply means they’ve chosen a different business model.
Moreover, I don’t tend to work with the type of investors who frequent this site. They’re typically high maintenance, opinionated, and talk more than they listen. I prefer to work with Builder/Developers, and look for properties that have H&BU potential.
-Infowell
We got all our knowlege from books at the library.
A couple years later a friend got the Carlton Sheets course. A lot of the info in the course is what we learned from the library books so the information IS out there. By the way, if you get books from the library or buy a course it won’t work unless you apply yourself and DO IT. The friend who got the Carlton course never did anything with it. The direction real estate has gone here in So. Calif the last few years he could probably kick himself now.
Good luck to your new venture
Look into chuck smith, his website is thechucksmith.com. he has copies of checks that hes made and that his students have made using his system.
good luck
Most of the guru’s have made money using their systems. But as with many things you do a long time, they probably get burnt out. Tenants, toilet and litigation get old. I find that when people get burnt out of investing they go one of two ways.
- Hard Money Lender/Note Buyer
- Speaker
Both pay very well and headaches aren’t nearly as big as RE investing.
Why not just skip a step? Probably you don’t have anything to talk about if you haven’t been down in the dirt. And you have to have a gang of your own money or someones that trust you with a gang of theirs. Once again if you’d been in the dirt and proved your success I’d give you that money yo invest, but wouldn’t if you hadn’t.
Looks like the only way outs getting your hands dirty!
Or keep your J.O.B. = Just Over Broke