Mc Coll, SC · Member since 2015 · 14 posts · 2 votes
I seen video after video, article after article about how to find deals and how to make deals. But nothing on the more technical and harder aspects of real estate investing like paperwork, and laws you must adhere to in order to complete a deal. Can anyone suggest any websites or books on these subject that beginners looking to get into real estate investing can learn from.
Indianapolis, IN · Member since 2014 · 205 posts · 74 votes
11y
Find yourself a mentor or experienced REI that can point you in the right direction for a purchase and "Go". Sometimes the best and fastest way to learn is on the job.
Get your team together, Attorney, Accountant, Property Manager, Loan Officer, etc. and then as you have questions you have them there to ask. Keep them up to date on every step you take and they will guide you in the right direction. You can always post it on the forums, I guarantee someone will respond with what you need.
I have only bought one house so far and still don't know all the in's and out's but I have learnt a LOT in just that one transaction. I keep in touch with everyone on my team probably more than I need to. They are all understanding of my lack of experience and tell me to keep them posted on what's going on and they will let me know what I need to do and when.
I also took the Broker course which helped but I think learning as you do it is bother faster and more applicable to your situation.
Temecula, CA · Member since 2015 · 67 posts · 12 votes
11y
My suggestion would be to attend reia's, meet with local successful investors take them out to lunch or coffee and build legitimate relationships. Bring something to the table or pay a coach to teach you if need be.
Indianapolis, IN · Member since 2014 · 205 posts · 74 votes
11y
Find yourself a mentor or experienced REI that can point you in the right direction for a purchase and "Go". Sometimes the best and fastest way to learn is on the job.
Get your team together, Attorney, Accountant, Property Manager, Loan Officer, etc. and then as you have questions you have them there to ask. Keep them up to date on every step you take and they will guide you in the right direction. You can always post it on the forums, I guarantee someone will respond with what you need.
I have only bought one house so far and still don't know all the in's and out's but I have learnt a LOT in just that one transaction. I keep in touch with everyone on my team probably more than I need to. They are all understanding of my lack of experience and tell me to keep them posted on what's going on and they will let me know what I need to do and when.
I also took the Broker course which helped but I think learning as you do it is bother faster and more applicable to your situation.
Investor · La Crescenta, CA · Member since 2013 · 174 posts · 50 votes
11y
@Chad Gibson Check your library for NOLA legal books. They have one for landlords and one for tenants. They should have one for real estate agents.
REI meetings can be a great education, but don't put too much faith in the ones that want to sell you something. You'll learn about myriad alternatives to buy&hold or flipping plus meet people who will gladly explain their specialties. Again some are real and some are just talkers.
Rental Property Investor · Indianapolis, IN · Member since 2014 · 354 posts · 167 votes
11y
@Chad Gibson - First - welcome to BP! I would suggest that you get together with other RE investors in your area. You may be able to pick up a mentor that can answer your questions and physically show you how to make the deal. The biggest thing is that you have to jump in and not get hung by analysis paralysis. BP is a great place to learn and ask questions.
Investor · Chicago, IL · Member since 2013 · 227 posts · 31 votes
11y
I learned practically everything I currently know from BP. Its a good jumping off point to answer basic questions. But if you are looking fore a more structured format for buying and selling real estate, I liked Millionaire Real Estate Investor.
Investor · Brighton, MI · Member since 2014 · 85 posts · 20 votes
11y
I would recommend reading the following: Rich dad poor dad, The millionaire real estate investor, The ABC's of Real Estate Investing, and searching the BP forums. This will help to build a foundation on REI
If you haven’t already, please read/listen to these books ASAP!
Flip2freedom episode 77[http://www.flip2freedom.com/a-3-step-formula-to-a-successful-balanced-and-insanely-profitable-2012/] - podcast - LISTEN TO THIS TODAY!