I started investing in real estate on somewhat of a whim. Though I had tossed around the idea in my head for a while, it clicked one day and I went for it. Working a nine-to-five was not the life I wanted to live any longer. So, one day, I just began. You might be wondering how I did that. Truth is, I dove headfirst into all the real estate investing education resources. Some were better than others, and I made a lot of mistakes at first. Let me share with you what I learned about the different real estate investor training and education options that I’ve come across for beginners.
Common Real Estate Investor Training & Education Tools
There’s a lot to learn about when you first begin to dip your toes in real estate investing. From general principles and strategies to the nitty-gritty of financing, analyzing deals, negotiating contracts, and understanding laws—it can seem overwhelming before you even get started. To make it more complicated, there are so many resources for educating yourself. Which one should you reach for first? Let’s walk through some of the main education options for beginner investors and look at what they have to offer.
This is probably the most convenient way for new investors to access information on real estate investing. After all, most of us carry a smartphone so we can access the internet on the fly from anywhere. However, blogs are meant to be snack-sized for your brain. You are never going to get a comprehensive understanding of the industry through the internet alone. Still, it doesn’t hurt to find a few good blogs just to keep up with industry trends and ideas. The important thing to remember, though, is that not all blogs are created equal. You will want to consider the source of the information the blog is promoting. Stick with blogs from a trusted source—like HomeVestors®—that has years of successful experience in real estate investing.
Who doesn’t like settling in with a good book? You can digest the information at your own pace, underlining or highlighting topics that you want to consider more deeply later. Then, it’s always a resource on your shelf when you need it. The only problem is that there are so many books to choose from! Most books out there tend to either be too basic or too full of flashy ideas that are complicated and difficult for the beginner investor to implement. While not all books are created equal, you are going to have to do an awful lot of reading and comparing ideas to get a handle on real estate investing, so it’s best to ask trusted colleagues and mentors in the industry for recommendations.
Ah, the self-professed experts. They seem to be everywhere, don’t they? These “gurus” offer to let you in on the secret to getting rich quick. All you have to do is attend their seminar—even if it means you have to take out a loan to afford it. And then it seems the main goal of the seminar is to sell you something else! Regardless of whether or not you glean any actual wisdom from their seminar, you won’t have any further resources or support to rely on when (or IF) you buy an investment house. The fact is, many of these gurus go out of business quickly or may be investigated by the Federal Trade Commission for fraudulent business practices. Caveat emptor, or buyer beware, should you get caught up with one of these seminars.
You can find a real estate networking group, from casual meetups and clubs to formal associations in nearly every major metropolitan area and beyond, but connecting with a mentor may be a different story. You really have to put yourself out there and even then it takes time to cultivate key relationships. Even more, the most successful real estate investors that you come across will be focused on their own business goals and won’t have the time to mentor a new investor. It’s rare to find a network of mentors who are readily available and eager to offer their expertise, but they do exist. But be careful of mentors that charge you a big fee, or worse, want you to split profit on your first deal in exchange for them “coaching” you.
The Most Comprehensive Training Available for Beginners
You name it, I’ve tried it. You could say, I went to the school of hard knocks. That is, until I found a real estate investing system that truly filled all the needs for my business. When I became a HomeVestors® franchisee, I received comprehensive training and ongoing mentoring—and, not from so-called “gurus” but, rather, from experienced franchisees who know the ins and outs of how to buy distressed homes, rehab them, and sell them at market value. It’s not a get-rich-quick scheme; it’s a tried-and-true strategy that has been successful since 1996. If you are ready for a career in real estate investing, skip the nonsense that will just send you in circles and make you wonder why you aren’t getting anywhere. Get in touch with HomeVestors today!
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