What would be your recommendations for learning material to someone starting out?

Question

I do agree with the idea of that real world experience will always be the best teacher. As long as you don't lose all of your capital, throwing yourself in with the sharks could be the best, and quickest teacher. And yes, analysis paralysis is a real thing. However, if you were to recommend a top 3 of learning material you wish you had when starting out, what would it be? It could be a book on deal analysis, proper investor mindset, an internet figure who gives out great knowledge, a legitimate course. Whatever.

Simon Ashbaugh · Answer

Hey Sean, Ken McElroy's "The ABCs of Real Estate Investing" is a valuable tool for anyone interested in learning about the fundamentals of real estate investment. The book provides practical advice and insights, making it a great starting point for beginners. Hope this helps!

Bill Hampton · Answer

@Sean Minihan

Welcome to Bigger Pockets. Bigger Pockets is a great place for education and networking and is full of great content.

I recommend that you check out the following resources:

1. Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction

2. Check out other online guides available here: https://www.biggerpockets.com/guides

3. Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog

4. If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking

5. You can meet local investors by registering to attend real estate events in your area: https://www.biggerpockets.com/forums/521-events-and-happenings

6. BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators

7. If you can't find what you're looking for, try the Bigger Pockets Fileplace. It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/files

Good luck investing.

Gino Barbaro · Answer

@Sean Minihan

What type of real estate are you investing in? AS far as mindset, I would read MIndset by Carol Dweck, Steven Covey's Seven Habits and for negotiation Chris Voss Never Split The Difference.

Look up podcasts of investors who are investing in the niche you want to invest in

Gino

Samuel Diouf · Answer

I learned as much as I could online in order to get a small foundation of knowledge, then I found a mentor who was already successful and learned from them.

Joe Funari · Answer

@Sean Minihan I always recommend you find a REI group near you that meets regularly. They often offer REI classes are invaluable. Also, at a much lower cost than many of the national "guru" courses. Also, the knowledge in these local courses is much more relevant than the national courses. From personal experience the national courses would always state throughout their training "check with your state and local municipality laws for applicability." I attending their classes locally. So my expectations were not met with the national courses. Whereas, in a local REI meeting teaching out wholesaling the instructor told us specific municipalities not to put out bandit signs or you will get fined. The instructor was speaking from personal experience. So right there I learned the value of local investor courses. Plus, the networking will be invaluable to you as you build your team. Also, I suggest moving forward when you post on BP let us know what city your looking to invest. Because you will get recommendations from other investors too. I work in the Dallas/Ft. Worth area. DFW REI Club is the one I recommend to local investors starting out. Great networking and various courses and meetings to help you on your REI journey: https://dfwreiclub.com/

What would be your recommendations for learning material to someone starting out?

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