investing but I am in the over analyze the hell out of everything and probably scare myself into sitting on the sidelines forever phase.
Can you all help me answer a coupe questions? Please don't take anything I say as a "shot" at anyone. I do not me it that way at a all..
1. Why is it that everyone that all these people that claim and/or seem to be so successful (Brandon Turner, Mark K, or any number of others) in RE are working so hard writing books, teaching seminars, running websites or some other way of using their "success" to make money by educating others. It seems to me that if RE was their passion and they loved it so much, they would be out doing that instead of all these other things that while yes,mother help people are ultimately to make themselves more money.
2. Does it make sense for me to hire someone more in tune (maybe an agent) with the RE industry to provide me with leads on possible profitable deals instead of me doing the leg work myself?
3. It's seems like every time I meet someone who wants to network, they always end up trying to sell me something. It makes me feel like these meetup groups, BP, seminars, etc are more tools that are used for some people to prey on unsuspecting folks that are trying to better their lives. Can you help me see that I am being to paranoid?
Thanks and please give me some feedback! I am ready to take the plunge but, when I do, I want to be fully committed!
Oh, I also have the task of convincing my wife.....she, like the majority of Americans lives her life based on FEAR and is not very excited about my intentions to enter the RE market:)
I'm also a complete newbie at this... and by newbie I mean I haven't even been interested in real estate investing for a week now. I have had some of the same thoughts you posed here, so let me just tell you my thoughts as well.
I can't speak for any of the people you mentioned, but if I had to guess - I would say that their passion is not limited to just one thing. They may truly love real estate investing, and they make enough money at it to be happy. I don't know their personal or financial situation at all.. but not everyone is trying to get "rich" necessarily.
It's very possible that their passion also includes things like enriching others lives, and bringing new people into the business. Bigger Pockets is the biggest piece of evidence I have for that. I haven't been here long, but that seems to be what this community is all about. The people that run BP don't seem to be the "gurus" you hear about, or see charging sometimes an arm and a leg for their information. I would bet you can get all of the so called "guru's" information they sell here on BP in pieces just by reading. That brings me to your second question.
In my (very) limited knowledge so far tells me that paying your way into this industry is not necessary unless you are paying for real property. That's not to say it's always a bad idea, but I'm just saying it's simply not "necessary". If you have patience and are willing to soak up the knowledge offered here on BP you have access to some amazing resources.
If investing is of a more immediate concern of yours, maybe putting some money up for it isn't a bad idea. I feel like before you pay a real estate agent to find leads for you, your money would be better spent with purchasing a membership here for some of the tools it allows. After just a few days here I am preparing to do that myself.
You said you would be expecting this agent to do the legwork for you. Just make sure that you aren't paying someone to do something for you that you will need to know how to do eventually anyways. That's setting yourself up for failure.
Lastly, I think you should realize that networking is a way for people to get out and help other people - but also themselves. Hopefully you haven't experience an attempt to network with anyone that is only interested in networking if you buy something from them, but either way - Bigger Pockets will surely bring you some contacts that are genuine.
I will inform our IRA and Solo 401k clients in San Antonio who self-direct their retirement funds into real estate in your area of this.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.