These are great questions.
You’ve offered some assumptions here that may not apply to you.
First, there’s various kinds of ways to ‘invest’ in real estate.
Which way are you intending? For cash flow? To buy and hold for equity build up? Fast cash flips? Rehabbing and flipping?
And then there’s a boatload of broke-style entry level ‘investing’ strategies, such as lease/optioning, bird-dogging, and wholesale contract assigning.
Each of these has a different set of protocols and training available.
Like any profitable profession or endeavor, training is required.
Even a real estate agent has to take a class and pass some tests. Why? Because there’s a way to sell real estate and a way to starve.
That’s not to say, you can’t finally learn without studying any training, but nobody wants to do business with someone who doesn’t already know how the ball bounces (or appears to know).
Which brings me to quote Tom Yevsikov whom recently wrote, “You don’t have to be smart to make a bunch of money [in real estate]… Hell, I know plenty of retards and rectal wizards, that are killing it in terms of $$$.”
So do I.
Meantime, I say the first thing to do is to determine whether you are going to “merchandise” real estate, or “invest” in it. These aren’t the same things.
RE agents, wholesalers, rehabbers, bird-dogs, and anyone who flips property, would be considered a merchandiser.
Otherwise, anyone who maintains an interest in a property for a period of time, as either an Optionee, or as a Landlord, he would be considered an investor.
Once you’ve made up your mind which way you want to go, why not ask any of us what training we would recommend? Buy the recommended training, and then come back here and let us help you fill in the blanks.
This website has a BUNCH of proven resources for just about any type of merchandising or investing you could imagine.
All that said, our family started buying up cheap houses in Sacramento, without spending one dime on training. We didn’t even buy a book that explained the ins and outs of investing in single family houses.
We acted as our own ‘inspector’, plumber, electrician, appraiser, painter, estimator, prospector, negotiator, loan originator, rehabber, landscaper, designer, and remodeler.
Let me say, that approach is reserved for the broke, and for rectal wizards and retards, if I may say so myself.