I believe that you should buy/read any book about real estate rather spend money on a guru or a course. I do not believe that you can get the value out of a $5000 course. You could take that money and invest in a down payment. I can find value out of most books that I read. I think that $20 for a book will yield some good advice that you can use. Almost every book that I have read I get something that I can use.
You're right Larry. I've been in and around Real Estate for 30 years and have yet to meet a guru. I will stop short at calling them "experienced" but i'm not into paying a fee to someone unless they are involved in my deal. There are great books out there and experts who will always give some free advice if you have the guts to ask lol.
I agree! Thanks for sharing your opinion. I and a believer of if you're looking to learn something, go out and research it.
Agreed. In fact, the really motivated ones can get free valuable books at their local library.
It all boils down to 2 factors to someone interested in the real estate investing
1. How bad do you want it?
2. Are you taking action ? And doing it consistently ?
Any book on a shelf is already out of date.
Some of the basics don't change much. Other points - like legislation, market trends, etc. - change almost daily.
In the classes I have, the credit classes have been redone three times this year alone, for example.
My $0.02 ...
I may get slaughtered for taking the opposition, but I can't say no to all teachers or coaches just because they cost more. I usually write educational expenses off on my taxes anyway.
Back when I knew nothing about nutrition or fitness, the books out there looked like a mountain of contradictory information. I was overwhelmed. Had I not sought out all of those who were more knowledgeable than I was, my health would be far worse than it is now.
Many books on how habits are formed or altered (Ex: The Power of Habit by Charles Duhigg) discuss how we can use multiple resources to kick ourselves into learning something new and sticking to it.
Additionally, I think the term "guru" is warped. Many people think a guru is a borderline demigod and occasionally set sky-high expectations for them. Sort of like that book The Secret, which to some was misconstrued as wishful thinking where they neglected to implement and take action on their goals.
When I think of a mentor, I think their time is most certainly worth money because I don't want a watered down version of training. I want a drill sergeant who will hold me accountable so I can learn faster. And a book cannot tell me when I have made a mistake, especially if I am at a level of "conscious incompetence", where I know I lack a skill set, but am unsure how to go about it exactly (example: a baby who knows he wants to walk, but is still falling on his butt.)
So in the end, I'd say to each their own. If someone responds more efficiently to a coach than a library membership, that's their path. I myself use everything I can. It's just too bad these topics still aren't mandatory in public education.
I would like to qualify the course comment I made earlier, their absolutely can be value in taking courses. I was referring to the $10k courses that we all read about on this forum. You can absolutely learn from a course that has a reasonable cost. I can see a course that you take teaching you rules, processes, or legal obligations being very helpful.
In the education I'm associated with, those fundamental classes are $2,000 for 10 classes available on-line 24x7. So, $200 each. You get access for life including all updates and additions.
Just wanted to pass that along ...
Yes. Check with your accountant. As long as you have the proper business entity set up, your education costs should be deductible as professional development expenses.
BRAVO!!! If you're good at listening, you can learn from anyone - - even blue-collar Joe Does.
BTW; not many realize that even a 4yr degree with all those expenses, do not qualify you for any specific job - - the Bachelor's Degree really only says "You can learn"!
As to dated material, nothing is more dated than any Encyclipdia, which is why there must be 10years of updates provided.
There is a whole industry of Teaching Seminars - - people selling what THEY know. Sometimes it's useful, sometimes it's hype and halve-truths. It's hard to tell until it's too late, like getting food poisoning.
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