I've been interested in real estate investing for awhile and have a desire to see it through. I'm unfamiliar on where or how to start. I attended a 3 day seminar and gained little insight. After completing, they proposed the plan to get you started by saying that additional step by step training was necessary in order to get moving and be successful. This training was priced between $23k-40k. Am I wrong for refusing to pay a substantial amount like that to invest in what I want to do long term? I'd like some insight on how I can get things rolling for myself without paying a ridiculous amount to have people share their knowledge. Where and how can I start to train myself on what needs to be learned to fully be in in the door?
Hello @Zagouna Anwary ! I have been listening to Bigger Pockets podcast and reading information on Bigger Pockets fora and I learned a lot already. This information is freely available and I feel like 24 hours are not enough to absorb all of it. Start with BP Ultimate Begginer's guide http://www.biggerpockets.com/real-estate-investing. It has a chapter on education. Good luck!
Its is a ridiculous amount and you are very, very wise to resist the guru's high pressure sales tactics. No, you absolutely do not need to fork over that kind of cash to learn this business. Someone who's charging you that amount of money to learn this business borders on being a thief. Certainly they're taking advantage of people. I'd say the same thing at even 1/10th of that price.
Start by reading the Ultimate Beginners Guide. Its free. Then, once you have an idea of what sort of investing or real estate business you want to do, read in those forums. And ask questions.
LMAO...that sounds like a Fortune Builder's 3-day!?! Run away!!! Seriously, it's one upsell after another. And, the McDonalds approach doesn't work, because not everyone wants a Big Mac, regular fries and a medium drink. You have come to the right place, because that base $29k for the mastery program will make a nice down payment on a property. So...
Welcome to BP!
Here are my Quick Tips (If you're listening to the Podcasts, you'll understand the reference. If not...see Tip #2!!!)
1. Get involved in the forums. Offer what you can and absorb what everyone else offers.
2. Listen to as many Podcasts as you can. I am listening to all of them, some of them more than once. There has not been a single broadcast that has not provided me value or that I felt was a waste of my time. Great content!!
3. Download and read the free How-to-Guides, starting with the Ultimate Beginner's Guide to Real Estate Investing. http://www.biggerpockets.com/real-estate-investing
You could pay thousands of dollars for this information BP offers free. (I almost did!)
4. Set up some keyword alerts. It will keep you engaged in valuable discussions, while you're getting plugged in.
5. Get involved with your local REIA's. Real Estate is, as I'm learning, all about relationships and networking. Make it work for you!
The BP community is awesome, and you've taken a great first step!
You are absolutely right to find that ridiculous. You can find what you need, for free, right here. Start with reading everything under the "learn" tab at the top of the page. Then jump in and do some searches on past forum discussions on any questions you have. If you don't find good answers, post a new question.
The basics of real estate investing just aren't that hard. There are no mysterious secrets that will get you suddenly rich, but there are many different ways to approach real estate investing that will build considerable wealth over time
Welcome. Time to build the foundation below.
Check out the Start Here page http://www.biggerpockets.com/starthere
Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on.
Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook
Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.
Consider checking out HUD homes for small multi's owner occupied gets first crack.
You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.
Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over
Thank you all for your insight and leading me in the right direction!
Welcome to the community. You have made the right decision by passing on the guru training. There is more here than the gurus could ever teach you. the best thing to do is to be active. Read the blogs, ask questions, and @Anna Stolpe stole my line by suggesting the podcasts. They are golden. Be sure to pay attention to Podcast 11: The Ultimate Beginners Podcast
@Zagouna Anwary WELCOME TO BP!!!
You are already ahead of the game compared to the many newbies and wannabes that never will get started because of taking that coaching you wisely turned down. They will either be in the perpetual training mode their coach will keep them in through constant up-sales or they will become disillusioned when they realize that their hard earned money did not perform the "You are now a Real Estate investor" magic they were promised. That only comes from experience and this site is the greatest repository of shared knowledge and experience you can hope for. Do devise a system to educate yourself. I've managed to listen to every podcast but will never be able to read all of the written material. There are some very active writer here.
I will add my two cents. Network ... network ... network. Join a local Real Estate Investment Group in Your area aka REIA. There are many investors in the room and there is lots of information to be gained.
Also, there is a lot of information on this BiggerPockets Forum which even I have learned, and I have been involved with real estate investing since 2001.
As you learn, you will want to try. It also depends on what you want to do. Do you want to wholesale? Do you want to buy and hold or buy and flip? Do you like renovating properties or do you have a team of trusted contractors who will get the job done even if you did obtain a line of credit for rehab.
Thus, FIRST write your Business Plan out so that you know where your funds (start up Capital) are coming from, who will be on your team, what your plan of action is, and when you want to start, and what will be your exit strategy.
You just have to know where you are going ... it is not a cookie cutter ... no two real estate investors are alike.
Hope this helps you.
Uniqca V. Powell, Realtor
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