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Your Own Real Estate Investing Course

By - 2007

Ever ordered a real estate investing course from a late night infomercial? Hopefully you got just what you needed, but more often, there is a lot of information there that just doesn't help. The information isn't necessarily incorrect, but we all are different, and not all ways of making money in real estate suit each of us.

The good news is that there are hundreds of variations based on dozens of basically different ways to make money in real estate. Some of these will work better than others - for you. Maybe you don't want to option commercial property, or lease-option mobile homes - and you are less likely to succeed doing things you have no real interest in. Perhaps it is time to design your own real estate investing course.

Researching Your Real Estate Investing Course

You need to discover what kinds of real estate investing are best suited to your personality. Spend an afternoon in the local bookstore for this. A good one will have at least fifty books on fifteen different ways to make money with real estate. Read, take notes, and see what types of investing appeal to you. Consider the three following examples:

1. Fixer upper homes. These can make you a quick profit, and you can also be very creative in this type of investing. But are you ready for the risk and uncertainty? I have a friend who has done very well with fixer uppers, but he always had unexpected surprises on each project. You'll have a lot of ongoing decision-making in this kind of investing.

2. Rental properties. A safe way to get started - especially if you do your homework and buy only when there is immediate cash flow. Of course, being a landlord isn't much fun, and you may have to wait a long time for the big pay-off. Do you like dealing with renters?

3. Flipping contracts. Make an assignable low offer, then find an investor who actually wants to buy the property, and sell the contract for say $8,000. You can make money with no cash to start, and it is also great for those who like in-and-out projects more than ongoing management. The downside includes a lot of time making rejected offers and annoying people.

Each type of real estate investing in the above examples is suited to a investors with different personalities and resources. You should try to look at twenty more ways to invest in real estate. This will give you a better idea of which ways are best for you.

Designing the Course

When you decide on the type or types of investing that suit you best, start designing your real estate investment course. On a piece of paper and make three columns, labeled "books," "people" and "other resources," and start filling them in.

For example, seek out books that are most relevant to the type of investing you'll be doing. You can find these online, at bookstores, or in the library.

The "people" category is for those can help teach you. This might be investors with experience in the area you're interested in - find these at a local real estate club. It could also include real estate agents - browse advertisements to see which ones sell a lot of the types of properties you'll be looking at.

"Other resources" is for seminars, tapes, course, internet real estate investing forums, and anything else that can be part of your education. You should also make a list of everything you need to learn - this will be added to as you learn what you don't know.

Set goals. Set completion dates for reading the books. Make appointments to go to real estate club meetings or to meet with real estate agents. Make it all into a real estate investing course that takes you from here to your first (or next) investment.

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Houses Under Fifty Thousand | Your Own Real Estate Investing Course