learning the business

[Carl Martin]

I'm 26 and i just got married. I am a personal banker at a major bank. I want to get a job in the real estate business that will allow me to support my family and learn the business. Anyone have any suggestions?

Thank You.

[Bill Gulley]

@Carl Martin

Do you have a degree? Most in banking on the investment/insurance side do, or are you saying you working operations and personal accounts? If so, what's it in?

Do not start out in RE with strategies and guru stuff! You can go meet others and get involved but that's not an education, it's an experience, it could be good or bad information.

Start with a formal approach to RE, get a text book for the state real estate exam, text book on RE 101/102 from some college book store. Not exciting stuff, no hype of making money, but I'd say 75% of the questions asked about an RE deal by newbies here comes from the lack of knowing the basics, not just newbies either.

Begin too understanding conventional financing, not creative stuff as eventually the creative stuff will be based on or ultimately rely upon conventional requirements. Financing is the key to the doors in RE.

Know local customs and state law! Don't start out doing something screwy just because some other operator does it. RE is a personal business, you rely on relationships with other professionals, attorneys, closing agents, Realtors, lenders, so don't get a bad reputation, it means a lot in RE.

In one month, maybe a couple weeks, studying the basics, you'll know more than many investors and most on the street. Learn the big picture and then move into your market niche. Good luck :)