Education Education Education

Investor · Nanaimo, British Columbia · Member since 2013 · 4 posts · 2 votes

I have been reading like a mad man! 3 books a week for the last two months. All the must read oldies, Bigger Pocket Books, Rich Dad Poor Dad... The common theme is continue your self education, learn.

I love to pick up a book and read, but I am curious about how other investors are getting educated, and what you find has helped the most?

Taking Accounting Seminars at the local University?

Going to REI Group meet ups?

Just keep reading a book a week?

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Brandon McLean

Investor · Knightdale, NC · Member since 2014 · 122 posts · 74 votes

Jump in and do a deal. Seriously. You've read enough now. Every deal will teach you something, and deals make more money than reading. But keep reading and listening too! There's no better feeling than driving to my rehab project listening to the books and podcasts. They get me excited to jump in and get my hands dirty, they really do. You're ready! Go for it!

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Christopher Phillips
Real Estate Agent · Garden City, NY · Member since 2016 · 3k+ posts · 1k+ votes
9y
@Brendon Toyne
Best way to learn is to decide what area you want to start in and focus on deal analysis in that area.
If you want to do flips, then focus on deal analysis on flips in your area.
If you want to focus on rental property, focus on that.
Much of real estate is simple, just not always easy.
It's all about the deal and understanding the numbers behind the deal. Accounting classes will only teach how to make journal entries and balance your books if you work at a company (nothing wrong with that). Most of real estate is done with phone calls and email. Most calculations can be done on the back of a napkin.
let the professionals do their jobs (legal and tax stuff). Your job is to find deals and make them happen.
4 Reply
Paul Bowers
Real Estate Investor · Macedon, NY · Member since 2016 · 251 posts · 290 votes
9y
Being here has been the best sources of education I've found. You can read/research virtually any facet of real estate investing. You can get into conversations on particular topics and questions. You can meet people/mentors. Hard to think of a better way to get educated, besides possibly jumping in and doing a deal, than spending time on Bigger Pockets.
4 Reply
Brandon McLean
Investor · Knightdale, NC · Member since 2014 · 122 posts · 74 votes
9y
Jump in and do a deal. Seriously. You've read enough now. Every deal will teach you something, and deals make more money than reading. But keep reading and listening too! There's no better feeling than driving to my rehab project listening to the books and podcasts. They get me excited to jump in and get my hands dirty, they really do. You're ready! Go for it!
6 Reply
David Dachtera
Rental Property Investor · Rockford, IL · Member since 2014 · 4k+ posts · 2k+ votes
9y
I am connected to some on-line education which is updated and expanded as needed and to which I have access for life. Any strategy which might be appropriate for any given property I have classes for. Proving to be very useful as I'm making my re-entry into REI.
1 Reply
Joe VilleneuvePro Member
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
9y
You need to learn and understand three things:
1 - How money works
2 - Market Analysis (not Property)
3 - How to build a Plan based on specific financial goals.
...and, how all three are equally important, and how you have to be equally (and extensively) knowledgeable about all three..and how they all work equally together.
3 Reply
Anthony GaydenPro Member
Rental Property Investor · Omaha, NE · Member since 2014 · 2k+ posts · 3k+ votes
9y
Brendon Toyne I read books every day, listen to podcasts, evaluate deals, go to REIA meetings, listen to audiobooks while driving, talk to other investors, and do anything else to help educate myself. Most importantly though, I take action!!!!! Action is the best way to learn. I have been working hard to market and get deals. I have been looking at properties and putting in offers. I have been at multiple banks trying to get financing. Get out there and learn.
Podcast Guest on Show #21
5 Reply
Harrison Liu
Investor · Seattle, WA · Member since 2016 · 143 posts · 68 votes
9y
@Brendon Toyne too much education is an overkill. real estate is not rocket science. especially if you start small like house hacking or buying single family rental. the best way to learn is by doing. the lesson you learned from doing it will be with you forever it is way better than learning it from others or reading books. real estate is a relationship business. a lot you have to learn from experience not from reading books. when I first bought my rentals. I have never heard of rich dad poor dad. From my personal experience, finding a mentor will help you way more than reading. A mentor will make you take actions and gives you a map to be successful in your local market, not one size fit all guru talks.
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Derrick W.
Investor · Bryan, TX · Member since 2016 · 165 posts · 82 votes
9y
books are great but pod cast are much easier for me as I spend the majority of my day driving.
0 Reply
Nereida Michell
Member since 2018 · 5 posts · 0 votes
8y
If we speak about education, I think that nothing can be better than a book, I tell you as a professor of the university and as a writer of the online service where I create any kind of paperwork.
0 Reply
Bhekizwe M.
Bulawayo, Zimbabwe · Member since 2015 · 1k+ posts · 253 votes
4y
Hehe...education education education.i'm here, yet to make that first deal

i read books, listen to podcasts but am yet to attend an actual real estate investing meet up.i have called agents, made offers in an environment without much conventional financing

Am exploring private money lenders, syndication with advice from a lawyer and possible wholesaling
i need to keep making offers, on a larger scale, as that is the only way to control a property and work on converting contracts to a closings
0 Reply
Bhekizwe M.
Bulawayo, Zimbabwe · Member since 2015 · 1k+ posts · 253 votes
4y
We need to face and embrace that rejection that is inevitable when taking the action steps of real estate investing.we are vulnerable in the process but we are enough to make it a success
0 Reply
Hunt Morris
Member since 2021 · 2 posts · 0 votes
4y
Quote from @Harrison Liu:
@Brendon Toyne too much education is an overkill. real estate is not rocket science. especially if you start small like house hacking or buying single family rental. the best way to learn is by doing. the lesson you learned from doing it will be with you forever it is way better than learning it from others or reading books. real estate is a relationship business. a lot you have to learn from experience not from reading books. when I first bought my rentals. I have never heard of rich dad poor dad. From my personal experience, finding a mentor will help you way more than reading. A mentor will make you take actions and gives you a map to be successful in your local market, not one size fit all guru talks.

I have started to read a lot of self-development books lately and I have also tried some of the tips that are given there and I have noticed some big changes.
0 Reply
Dave PoeppelmeierBusiness Member
Realtor · Maumee, OH · Member since 2015 · 491 posts · 722 votes
4y
At some point, you have to jump in. If you've been reading a lot on the basics, then start to find your team. If you can start local, you have a head start because you already know your area. Find a RE agent that is an investor THEMSELVES. Anyone will tell you "I do investment properties!", but you want someone who has not just one or two. They should be able to introduce you to lenders, attorneys, insurance agents, etc. If you can't do that because you live in a crazy high priced area, reach out on here to people in the area you want to invest in, primarily PM companies and RE agents in the market you want to invest in. Regarding your reading, that's great, but start to shift to books that develop your mindset. You can only read about how to invest in RE so many times before everyone is saying the same thing. The biggest shift in becoming an investor isn't having property, it's thinking in terms of it's your business, and having that business mindset and attitude. Good luck!
Podcast Guest on Show #380
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