I would like to try my hand at real estate investing, however I have no prior real estate experience. My question to you is what course or reading material should I invest in that would help me gain some knowledge in real estate investing? There are so many courses wtih such a varying price scale, it’s quite overwhelming. Any advice is greatly appreciated. I just want to be sure whatever I end up purchasing will in fact provide me with some valuable real life, and current, real estate investing info.
I have liquid assets of six figures available for investing in small to medium local homes. A few areas I would like to learn more about are how to read market trends, financing options, and more. I read the great article on FORTUNE where people purchased 10 homes with $150,000 in cash. I’d like to learn techniques these investors are using. One question I have is how much cash it typically takes to purchase, say a $150,000 home? Whats a reasonable figure to get into a home of this value?
Tom,
As you probably noticed, there are a great many writers and advisors. A few of them do what they advise. There is a lot of advice available here and on other fora. Some of the free advice is worth what you pay for it, amd some worth a lot more. Please look at John T. Reed’s website. He honestly (and accurately) rates all the writers & advisors he can find. Also, please read newspaper columns by Robert Bruss (real estate agent, lawyer, and investor for more than 20 years).
Depending on where and how you buy, 150k cash could easily allow 10 purchases over time, especially from owners facing foreclosure.
Following my preferences, buying a house for 150k requires 8k down payment and about 7-8k more for closing costs and cosmetic improvement. It is possible to buy a house with no cash at all. The opposite extreme is to pay all cash for a house at foreclosure auction, clean it up, and sell quickly for a profit.
Good luck,
Ray
I agree with Ray Taylor look at www.johntreed.com the only thing to keep in mind is he really does not like anybody. So keep in mind this is just one guys thought’s. There is useful information on his site.
As you’ve read in other postings, there are many avenues available to you. I, personally, have chosen to educate myself, rather than rely solely on ONE person’s techniques or advice. The concept is to become real estate savvy, grow personally, and then, protect your investments, all the while earning as you learn. When you get involved with people who have the same goals and desires as you, life becomes less complicated!! Only you can decide!! Check it out! Good luck.
Tom,
I would look on this site to find the real estate investment clubs in your area. Go to them and take a list of questions with you. Talk to as many people as you can that is already in the business of real estate itself not only investing. The more you learn the easier it would be to decide if any guru has information worth paying for.
Dennis
Don’t give the Gasbags any money. They are not worth anything! Never buy a book, program, tape, cd, dvd, collectors plates that promise you great wealth! Because why would they share the secret? If they did so well in Real Estate why are they pimping their books?
The most important thing in Real Estate is Research, research and research and when you thought you researched in enough, research it more! Educating yourself on your own pace using many resources such as the Internet and this forum is a great start. Research your local market. What is the rent like? What is the rate of appreciation? How fast do homes sell? What are my financial limits? And many more that you will ask yourself while researching.
Hey Dan732…I know your not big on reading real estate books…but you should try reading books by Peter Conti and David Finkle.Like,Making Big Money Investing in Real Estate,How To Create Multiple Streams Of Income…Buying Homes In Nice Areas With Nothing Down!and Making Big Money Investing in Foreclosures… Without CASH OR CREDIT.All the answers to your questions are in them.I know you have been in real estate for some time know,and you know quite a bit about it,but you might even know more if you read there books.You don’t even have to buy them,just get them from the library.I think you will be impressed.Take care
