Best sources for education

Best sources for education

Thornton, CO · Member since 2013 · 4 posts · 0 votes

Hello everyone. My name is Grant, and I'm new to BP. My background: I became an accidental landlord about 6 years ago. I then met my wife, who owned her own house, and we bought a larger house together. Her house then became our second rental, and has been for the last 4 years. Things have been up and down. I've had some issues, but nothing we haven't been able to get through. Both have dependable tenants in them now.

Now to the point of my post. I'm thinking of branching out, and looking into getting more rental property / properties. I have decided that since I am basically already in the business it would be worthwhile to get better educated to be able to better handle my current rentals but also any future ones.

What forms of education would everyone recommend? I know that's an extremely broad question, but that's just the kind of education I am looking for right now: broad. I am considering taking a class for real estate agents (just for the info, no plans to take the tests), but I'm wondering how relevant that would be. Any thoughts on that option? Any must read books? Seminars? Websites? Let's say you had to pick one piece of educational material that had the most bang for the buck / time, what would it be?

I am in the Denver area, if it makes any difference. Appreciate any input.

Grant

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Karen MargraveBusiness Member
Moderator
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
13y

Grant Shafer Real estate princiiples would probably be a good start to building a foundation. You can probably do it online through a local community college, or something like Allied Schools.

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  • Rental Property Investor · Manchester, NH · Member since 2013 · 447 posts · 81 votes
    13y

    I am trying to further my RE investment education myself but I have a few suggestions.

    Its a little expensive ($125), but I just finished listening to the audio recordings from the BP Summit... it is about 20 one to two hour presentations on a broad range of topics... I like it because you can learn in the car, while working out, or doing medial tasks.

    You might consider a real estate appraisal course to learn about valuation. The appraisal institute courses are usually high quality but also a pretty expensive.

    I am reading Marty Boardman's book about flipping houses and it is an excellent overview of the process. Also, check 123flip.com on this topic.

    Finally, I am going to my first local real estate investment on Weds. It will be a great way to meet people in my community and learn from actual investors. Hope this helps!

  • Karen MargraveBusiness Member
    Moderator
    Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
    13y

    Grant Shafer Real estate princiiples would probably be a good start to building a foundation. You can probably do it online through a local community college, or something like Allied Schools.

  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    13y

    State approved real estate schools, college real estate classes, at first, stay awat from guru crap until you understand the basics and legal issues, find out what financing requirements are in your area. Belive me, there are more scams looking for your educational dollars, go conventionally with acreddited schools, then look at the shemes.

  • Real Estate Broker · Gibsonia, PA · Member since 2013 · 828 posts · 260 votes
    13y

    Looks like you have the landlording part started.

    I grew up with real estate: so the understanding the market is ingrained from following my mom by watching her.

    I read a lot of investment book, majored in finance, did bookkeeping..
    Worked as RE agent for a few month (Asia)

    What I didn't know was:

    flipping : had to do one to understand

    Land lording: my flip didn't flip so learnt land lording on the fly

    Buy/selling: learnt each project from everyone involved from seller/buyer to inspectors

    Financing: learnt on each project just by talking to brokers/mortgage/bank

    New construction : chose to work with builder on live in flip. Learn how homes are built and what buyers go through

    Staging : selling home called a stager paid 175, she came an taught me. I took pic, emailed to her and she critics it. My home was only one to sell. Bc
    It was live in flip and staged.

    Commercial retail: fell into it, learn on the fly

    Site revision for commercial : work in progress... on the fly...

    Always learning and ppl love to "teach"
    You just need to do your own due diligence.

    And DONT FALL IN LOVE with property/deal.

    My worst deal is when I fell in love, current home but I let myself bc this is permanent home (fingers crossed)

  • Seattle, WA · Member since 2012 · 51 posts · 9 votes
    13y

    I think everyone has said some great things, but I'd like to add a few suggestions since I'm just starting out like you.

    First and most important: Find a mentor. If you can find a local investor that you can trade your skills/time/value for his knowledge, you'll learn more than you ever could by going to school or reading books.

    Secondly: BiggerPockets is the absolute best resource online. Make use of the search function, and if you can't find what you're looking for -- which is rare -- just ask away!

    Welcome Grant Shafer

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