If you are looking to get some real estate investing training, you have come to the right place!
Your mind is about to receive a massive injection of pure Real Estate Knowledge.
Strap in, grab a pen and your notebook and get ready for the unfiltered truth on advancing you real estate investing training.
When learning anything the key is to know the right questions to ask.
The first question you should ask on your real estate education path should be:
Where Should I Start My Real Estate Investing Training?
One of the most important skills you need develop is how to determine home values. This will ensure you will not buy a dud when purchasing a house in your local real estate investing area? If you do not know how cheap you can get a house for it will be very difficult to make a legitimate profit in real estate investing, thus we will begin your real estate investing training here (its free you should click it now).
Your goal is to get a better house for cheaper than any other house currently on the market, ideally by 5k to 10k.
Your next question is obviously, how do I find a house for 5k to 10k less than these?
Real Estate investing training – Determining Value
One of the most important skills you must learn is how to evaluate home values. Specifically for your real estate investing areas.
If you are new and broke you should call some realtors who work in your desired investing area and get them to give you a list of properties which have sold off the MLS in the past 3 months. You should now look at the cheapest properties which have sold, see how many bedrooms and bathrooms they have, the square footage, is it a block house or frame and the year it was built, try to determine the amount of work they needed.
Look at what the price per square foot is on the cheapest properties. None of these statistics should be given too much weight but all of them should be looked at together.
Real Estate Investing Training Exercise:
From the list of properties the real estate agent gives you, make a list of the different statistics for the different type of homes. To begin, focus on 3 bedroom 2 bathroom homes, separate them into block and frame.
Get a list of the active 3/2 homes in your real estate investing area from your realtor. You are going to go through this list and look for the cheapest 3-5 homes.
You will go to these homes and walk through them, see the condition they are in. Make a list of all the repairs which you think are needed guess at how much each item will cost.
Call some contractors and ask them to give you a high end estimate on all the repairs on the list. From the list of properties which have sold in the past few months and your contractors quotes make a guess at what the would sell for property. Both in it current condition and once it is fixed up. Write these numbers down.
In one month from now see if any of these homes have sold and see what they have sold for. Compare your numbers; if your numbers are too high see if you can find where you made your mistake.
Keep doing this until you don’t make any mistakes.
This game is like the price is right you want to be under the number but as close to it as possible.
Once you have this down you will be able to invest in real estate with supreme confidence. This is the best thing you can do for you real estate investing training.
Real Estate Investing Training – Finding Dirt Cheap Properties.
As a beginner real estate investor you are going to need to find properties with a minimal marketing budget.
The best methods will be to put out bandit signs, hand out business cards, drive around looking for FSBOs and scrubbing the internet. Click on the links to learn more about each strategy.
Real Estate Investing Training – Making the most of every effort.
You should do some networking i.e. finding local cash investors.
Speak with these investors and get any information out of them you can. A good way to monetize your marketing efforts will be to wholesale your excess homes to these cash buyers.
Thus knowing many cash buyers and what they are looking for will increase your profits. If you want to learn more about direct mail marketing send me an email.
Once you have a basic understanding of the game, you will want to focus your real estate investing training on a specific niche, until you are the best and everyone in the area knows you are the best at that specific niche.
real estate investing training – Finding your focus.
When you are ready to make big-big money you will have to focus your real estate training and master a specific niche of the business. The fastest route is getting a mentor, preferable locally who you can follow around, make yourself useful to ( link in site) and suck their brain of all that sexy real estate investing knowledge.
If you have good credit and a lot of money you will have limitless opportunities. You could buy properties and hold them while you rent them out. You can buy properties at a discount, fix them up and then sell them for a profit.
But, don’t worry if you don’t. I know lots of real estate investors who started in the same position. You should check this amazing course for $1. It cannot be beat, I don’t even know this guy but I have mad respect. You should click here and give him your $1, it will be the best educational investment of your life.
If you don’t have the best credit or a ton of money you will want to consider real estate wholesaling. To do either of these profitably you will need to invest a little into your real estate investing training, one dollar should be enough. For your first deal you could probably find all the information on this website and similar ones for free. But once you desire to do multiple deals a month you should find a working real estate investor to model. Modeling is the quickest route to getting what you want.
As a real estate wholesaler you find properties for other investors who have cash to invest. You get control of the property and sell the contract to an end real estate investor. Some of the best training in real estate wholesaling can be found by subscribing to my newsletter at the top right of this page. If you have not done so yet, enter your email address now!
Once you figure out what type of real estate investing resonates with you, you can focus on the specific real estate investing training that makes sense to you. As you get more experience and build a nice cash reserve you will want to explore and expand into other areas of real estate investing.
At this point it’s probably a good idea for you to consider some higher end course, mentoring and attending seminars. These will require an investment but like anything in life, you get what you pay for.
Graduating to these higher level real estate education courses and real estate investing training from the free information should be your goal and a natural progression.
The most important thing to remember is that the best way to learn is by doing. Take action, make mistakes and learn from them. You’ll learn more by doing than from any real estate investing course.
