A little about me, I’m 23, currently in the US Air Force and soon to be going to a pretty intense school for Flight Engineer training. Well I’ve always been fond of investing, but it wasn’t until recently that I can’t stop reading everything and anything I can get my hands on. I guess I should thank Robert Kiyosaki, it’s because of him and “Rich Dad Poor Dad” that got me into this mindset. Needless to say, I definitely want to get into Real Estate although I have no idea where to start. I’m new to investing in general with limited experience with Stocks and Forex.
I’m not sure where I should start, is there a school or something that would get me started? Correct me if I’m wrong, but I’m thinking about getting my Real Estate license and later on an Appraisal license and get experience with a broker. Although my job is fairly intensive (I’ll deploy a lot and have a pretty tight schedule of flying all over), but I’d like to get experience in my off time with a broker to learn the ropes. I figure this is my best bet for learning Real estate while still getting paid.
So I suppose I’m coming here hoping someone can help me out here, I’d love to get into this field but it’s so vast it’s almost intimidating. Thanks
Hi and welcome. My first reaction is that you are trying to do too much, too soon. You can’t possibly know everything right out of the gate. You need to slow down, decide what investing strategy you want to learn first, then go with that. Once you become experienced with that, expand your horizons and become knowledgeable with another means of investing.
For what it’s worth, I suggest you look at options and lease options as a way to get started. They are safe and don’t require you to dig into your savings to do deals.
Thanks, I realize I am trying to do a lot at once. Just been so interested in learning as much as I can in general about different investments. As far as “education” goes, what would you recommend? Any of the courses here, or books?
Dont waste your time on an Appraisers License, the agent license might help but is not necessary… Join your local REIA Club… Read this site and I would suggest the following as well
Keep in mind that there are differing opinions to just about everything you read… However if John Locke says something remember it…
I was 19 when I started so you may be too old to get into the game… And your education may limit you as at times a formal education hinders a new real estate investors mind frame… Very few circumstances can be taught using a book…
Where you start depends on what type of investor you want to be… Once you decide what your exit strategy is then learn the entrance strategies to that.
You are doing the right thing reading and learning. Rich Dad Poor Dad has some great books, Cash Flow Quadrants is good and Real Estate Riches is a very realistic take on investing. Both of my degrees are in business so I am like you, I cannot stop reading and listening to audio books. I recommend EMyth by Michael Gerber and Goals by Brian Tracy. Rich Dad Poor Dad and these 2 are the most influential books of my life.
I also recommend reading and learning about real estate investing. When you are starting out, it makes sense to focus on one strategy and master it before moving on to another one. Most beginners spread themself too thin and put 10% of the necessary effort into 5 strategies rather than commit to success and mastery in one strategy. Pick a strategy, write down the tasks to achieve success and start hammering away. It sounds like you are a go getter. The next 3-5 years are going to be incredible for real estate investors. Best of luck.
Thanks for the info! Actually I think I’m going to buckle down and focus more. No need to spread myself thin. I realize Real estate is where I want to head into, so I’ll concentrate on learning as much about that as possible. If it’s not for me afterward, then I’ll know after I’ve dedicated the focus towards it. So you have 2 business degrees? Right now I’m thinking about getting a degree in business, or getting a technology degree (to fall back on). I know there are a few degrees for Real estate studies, but wonder if it would be worth it to even get into those over just getting a real estate mentor instead. Thoughts? I love Kiyosaki’s books, in fact it’s what created the spark for this current drive of mine to get into this stuff. I read his book about a week or two ago. I read Rich Dad Poor dad, currently reading “Why we want you to be Rich” as well as “Increase your Financial IQ”. I’m thinking about getting into the Mentorship program with Peter Conti, going to be reading his books. I’d like to be well on my way to investing and knowing as much as possible about Real estate within 4 years. In 4 years I’ll be getting out of the military and I would love to truly pursue this full force. :smile
get a good easy book to read. follow the steps - buy some real estate.
your young - go for it.
DO NOT get bogged down with a lot of talking online like this - it’s a waste of time.
the more people “chat” on here - the less i think they do do do out there.
i have a ton of posts on the site - but most are from like 2 years ago when i was addicted to just posting on this and a few other sites.
i come back to reiclub to occassional chat and see what questions are out there. i also use the glossary on here once in a while - it’s incredible.
other than that - just go out and start full steam ahead. do some research then go for it. or else you’ll be :banghead
Thanks, actually I haven’t been on this board in a while, had it not been for an email reply I received. I don’t plan on frequenting boards of this matter. I’m in Flight Engineer school till next September, so for now I’m just reading up. Once I graduate my school and get settled down again I plan on going full force with a year long mentoring program. I’m looking at going with Peter Conti’s mentoring program, looks fairly good and I’m reading plenty of his stuff. Pretty interesting. Definitely want to jump into this stuff. I have about 4 years left in the military, one being in school, I figure I should be able to get a good grasp of things within 3 years to get going on my own. I’m sure going to give it everything I got to make sure I make that deadline. :smile
I know exactly where you’re coming from. I was happy when I found your post because I’m in a similar situation. I’m 21 and I’m getting married when my fiance completes basic training for the Navy in November. Once we get married we’re going to sit down and make some financial goals. Since I currently don’t have a career path being a real estate investor really appealed to me because you generate income and you create wealth for you and your family in the process. I’ve read four of Robert Kiyosaki’s books and have ordered two more. I have been browsing this site just learning from other people’s questions. It is a little intimidating when a lot of the beginners on this site start talking about how many thousands of dollars they have saved to put as a down payment for this deal or that deal or their 750 Fico score or even when they are calculating their ROI and throwing numbers around.
I am very green. No money, poor credit and a tendency to get lost when the formulas and calculations are being thrown around. So hopefully I learn enough here to know where to start. Good luck with that deadline.
Good luck, I wish I would have started earlier but I’ve got the rest of my life to make this a career. I plan on doing this stuff full time within 3 years, I’ve set of deadline of making this a full time serious career after my time in the military. :smile
Rich Dad has a program that is amazing. You take specialized classes on 1 strategy at a time AND you get to work with a mentor.
I had signed up for their coaching program initially, if I remember correctly it was for paper assets. Looking back on it, I’m glad I didn’t get into it. At the time I couldn’t afford their price, think it’s kinda ridiculous they don’t offer a payment plan. Also didn’t have the time to focus on that stuff, so it would have been a waste of money and time. I’m currently reading as much as I can and such, I’m a big fan of the Rich Dad company, mostly because Robert Kiyosaki just makes sense. Books are easy to read and he doesn’t try to sell you gimmicks.
Anyways, does their real estate program actually have coaches who teach you about making deals and offer their services and expertise? I’m looking at a few “coaching” places:
Robert Conti’s “Mentor Financial Group”
Donald Trumps “Trump University Real estate program”
I’m leaning more towards “Trump University”, although I really don’t know much about either. I’ve read Peter Conti’s "
How to Create Multiple Streams of Income Buying Homes in Nice Areas with Nothing Down!", which was pretty easy to read. Mostly covered theory but really opened up my eyes to what’s possible. I swear I have a stack of books next to my bed and I just keep buying them. So anyone care to give advice on a good real Estate coaching program? I’d rather have a good coach/mentor to help me out through my first deals. Thanks
Well I would not do any of those programs. Real estate is not difficult. It is as easy as buying a house. What you need to know is which house to buy. That depends on what you want to do with that house. There are only 2 things you can do. Buy a house that is distressed, fix that distress and sell that house at a profit or rent it for cash flow.
The people that sell these courses sell courses not make money in real estate. What I suggest you do is find someone (a real person) to learn from. Not a book or course. The problem with these courses is that they will tell you every technique there is in real estate and everything about it. But just like you don’t have to know every thought and every like of every girl out there you just need to know the thoughts of your wife or girlfriend. You have to settle on one woman like you have to settle on one real estate philosophy. The one you settle on needs to be the one that works where you are. You don’t need to know every technique there is in real estate because all of them don’t work everywhere. You only have to know how the one that works for you where you are works. You find that out by finding someone that is doing it where you are. One thing to remember is that everybody says you learn from other’s mistakes. I contend that you can’t learn to succeed from others mistakes you learn to succeed from others successes. If I tell you 50 ways that I failed you have pretty good idea how to fail but you still don’t know how to do it. No matter what anybody tells you all real estate (just like politics) is local. You have to do what works in the market you are in.
My philosophy is to find somebody that has what you want and copy what they are doing. Don’t reinvent the wheel, don’t fix up what they do, do what they do. Make sure that they are doing it now so they have current knowledge. California had really high appreciation in the past but it is not appreciating now. So don’t try to do the techniques that worked during those high appreciation years (Buy ride the appreciation and then sell, etc). Do what is working now.
Qualify the person that you are using as a guide by making sure he has the results you want. He has the health, wealth, time with his family you want. Make sure he got those things using real estate and not from his law practice and he just happened to own a few houses. Then imitate his strategy and do it just like he does it.
I agree Bluemoon. Real experience most important. Remember thinking to walk on the road and walking on the road are two different things. Decide and jump on it. Join social club, get a job, find a mentor and learn. I hope you’d fine. Nick Brian.
The BEST course for a Real Estate Newbie is Vena Jones-Cox’s Real Estate 101 course. She gives you the breakdown of every real estate strategy so you can choose which one is best for you. It is pretty cheap to you. Vena is one of the most well respected educators in the country and has been teaching for over 20 years. She is an honest and good person.