Need Great Expert Advice on starting out!!

Hey everyone I need some great expert advice...I been trying to get into real estate field for a while now but really do not know the best way to go about entering it.

My first choice would be to work in RE field before I really start to invest. I think this would be the best way to learn the in and outs of the business and to gain some great experience.

So I was wondering do you think it's best to go to college to get a degree in the field or maybe I should just dive right in?

Are there any advantages or disadvantage to starting with a degree?( other than time or loan debt)

Is a degree really neccesary?

I am very interested in the property management field and want to start from there but I also would't mind starting from an Inspector or RE agent. Lol or maybe just save and start out investing. :roll:

Thankyou Any advice is Helpful

Edited: 06/26/2010 at 10:37AM

Michael Rossi

Real Estate Investor · Ohio

4587 posts
14256 Influence
14 Awards

Icon_minipost Nov 23 '09, 06:33 PM

Starting as a property manager is a great idea if your goal is to be in the rental business. There is a lot of turnover in the management business and I would suggest visiting all the large apartment complexes in your area to apply for a job.

You do not need a college degree to be a real estate investor. A degree will do almost nothing toward advancing your rental property business, although it could help you get a job as a property manager with a major property management business.

I would strongly suggest that you join your local REIA (Real Estate Investors Association) and make friends with the successful investors in your area!

Good Luck,

Mike

Edited: 06/26/2010 at 10:38AM by Michael Rossi

Jon Holdman

Real Estate Investor · Denver, Colorado

11859 posts
75547 Influence
15 Awards

Icon_minipost Nov 23 '09, 09:37 PM

The "real estate business" is a lot like saying you want to be in the "computer business". Both are very broad statements. If you mean you want to architect skyscrapers, then, yes, you need an appropriate degree. If you mean you want to fix and flip houses, then you may be better off going to a trade school and getting a general contractors license. Most of what gets discussed here, rental property, fix and flips, and wholesaling, doesn't require a degree.

I'll take Mike's advice a step further and say find someone working in the area you like and have a chat with them.

Edited: 06/26/2010 at 10:38AM by Jon Holdman

Jon Holdman, Flying Phoenix LLC

NC Mark

Real Estate Investor · North Carolina

1086 posts
7096 Influence
8 Awards

Icon_minipost Nov 23 '09, 10:24 PM

While you're deciding save every dime you can. Cash talks in this business and the more you have the easier it is plus the more seriously you will be treated.

Edited: 06/26/2010 at 10:38AM

Ricardo Fuller

3 posts
18 Influence

Icon_minipost Nov 23 '09, 10:41 PM

Thank you for your responses!!

great advice Mike and Jon....

(Trade school) I never really thought of trade school...I guess that would be another really great option to enhance myself in the RE field.

Great enlightener Jon~

Edited: 06/26/2010 at 10:38AM

Account Closed

47 posts
245 Influence
1 Award

Icon_minipost Jan 20 '10, 07:21 AM

In truth, real estate can be a lucrative business but only with hard work. Therefore, you need more reasons to get started with real estate than skill if you are expecting quick financial gratification. To succeed, you need passion, as well as dedication and determination. Every successful investor began at the bottom of the totem pole, so keep that in mind when you feel behind. You need to pick a specific niche with a constant flow of leadsâ€¦like REO's, pre-foreclosures or probates. These are the 3 I focus on, and it is very normal to close 3 deals a month. Also, find a team, specifically a real estate agent and title company that you work closely with for support and collaboration. Obviously, it needs to be a win-win situation for both of you. Do the work, and expect resultsâ€¦and always, always persist.

Edited: 06/26/2010 at 11:17AM