I’ve never been a huge fan of the real estate investment education companies. There are so many of them, and some of them seem to be a big scam. Many of them are here in Utah -- Ha ha.
One of my best friends is looking at schools and programs so he can learn how to properly buy and sell real estate as an investment. He asked me if I knew of any good ones, and unfortunately I don’t. I thought I would do a quick survey of my groups on LinkedIn and see if anyone has any recommendations.
If you have a recommendation of a good school or program, please leave it as a comment below. Also, give your reason for recommending it. I want to give my friend some good options!
Thanks for your comments.
@Corey Dutton , is your friend a BP member...if not send him this way! I cannot recommend a specific school or program because I have not spent a dime on real estate investing education (beyond classes to get my agent license). I have learned what I know from many free resources including BP (blogs and forums), free real estate/business classes online, books from my local library, meeting with other investors, etc. Some people need more structure and I am sure someone can recommend something, but I am a fan of saving money to use for actual investing.
If someone is going to recommend something it may help if you include what kind of real estate investing he is looking to get into, as there are thousands of programs out there focusing on many different areas and strategies, so it may help to know what he is looking for.
I'd recommend them to come onto here and spend a few hours a day reading the forums. There's more content on here then any program will be giving out. Not to mention that amount of money you will need to pay for most programs. They should start networking with people on here and learn from people actually doing what others teach.
Just a thought
@James Vermillion haha did not see your post...I second that
It is difficult to recommend something without more specifics about what your friend wants to do. However, some general coursework in finance, accounting, and taxation would be a great start. Some of this you can get in college and some of it is better to learn in trade schools or by reading forums and blogs.
I really think most of the important lessons in real estate are learned by doing. Mentors take a beating on BP, but I firmly believe that having someone work with you to show you the ropes it the way to go. If you can find a good coach or mentor for an apprenticeship and the compensation model is structured properly it is well worth the cost. There are a number of quality coaches on BP that don’t advertise their services. I would try to find one of those folks that specializes in what you want to learn.
CCIM Institute offers an introductory real estate investing course online, which I personally recommend.
This is from their website
CCIM’s introductory course teaches you the fundamentals of the commercial investment real estate industry and demonstrates how to apply these skills using real-world case studies. You will have the self-confidence to answer your clients’ questions, anticipate their concerns and plan for their needs when you have a solid commercial foundation from which to start.
After completing this course, you will be able to:
•Solve investment problems using a financial calculator.
•Perform basic mortgage calculations using compounding and discounting techniques.
•Understand basic real estate investment analysis tools, estimate net operating income and estimate cash flows before tax.
•Calculate the internal rate of return.
•Evaluate similar properties, project vacancy rates and estimate absorption figures.
Just curious how many people are actually moderating this forum. I originally posted this under a category I thought was correct. Someone is always moving my posts into other categories. How much time is on your hands WIZARD behind the curtain?
Bryan - I think the mentor approach is always best too. That's what I told him.
Don, Mike, and James - great comments. Thank you for your help on this subject.
Try the adult education evening classes many high schools now offer. The one near me offers classes called “Evaluating Income Property” and “Affording Your First Home.”
A quick Google search indicates that the University of Utah offers continuing education classes in “Consumer and Family Finance” as well as “How to Use Financial Markets to Protect Your Investment.” The latter looks pretty broad but touches on real estate as well as many other interesting and related topics. They also offer what appear to be all the real estate license courses, which might be useful to pick and choose from.
Several of the real estate clubs out here also offer courses. Your friend might check out some of the local clubs where he might also meet a mentor he could volunteer to help. As I'm sure you know, there's no substitute for experience.
I also agree with Bryan that some basic courses in finance and accounting, even though they are not specifically about real estate, are necessary. I'd suggest these first.
Mentors and BP are the ways to go. Nothing beats real life experience because nothing in real life is by the book. Anybody that can share their experiences with him will hopefull allow him to not make the same mistakes twice.
Sounds like you will be volunteered to be the mentor @Corey Dutton !
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