Just Getting Started
My husband & I are just getting started in the real estate investment .....are there any good or best recommended courses or seminars we are looking or no money down without good credit deals any suggestions on where to start?
I think if your just getting started and you are trying to figure out WHY real estate is a winner, the whole attitude and way of life is well represented by the Author Robert Kiyosaki. He has a full series called Rich Dad, Poor Dad. This is very good reading and pump up for the state of mind you need to be in to do this stuff. When I get lost or feel down I pop in this material and remember exactly why I'm on earth doing deals.
As for the deals and structure, this site is wonderful searching the forums and authors that sell on this site. As for the buzzzz "no money down" we all know Carlton Sheets has much to say about this topic. I found his DVD in which he interviews his students that have success stories on deal structure to be a good one. Cashman on this site brings a wealth of knowledge on "subject to existing financing" deals.
The best advice is to make sure you commit to action, I'm sure many who are doing well in RE would agree with this. Those who don't, well I'd like to see the portfolio. Action, Action, Action....start with a small property, but for the love of god START! Don' get stuck dreaming.
gtrzndrums
I suggest to learn the basics first. follow the natural progression. We all want to be experts right away. That's why so many people get frustrated, and never do a deal. They never feel that they know enough to pull off that "great deal",
The problem is usually much more basic. They haven't seen evidence that this stuff works first-hand. They have only found 1 or 2 houses that they think could work, they take too long, and by the time they make an offer, the property is already under contract .
I suggest bird-dogging first, working up to wholesaling, and then occasionally diong a deal for yourself until your confidence is where it needs to be to do this full time.
Follow me in this for a little bit.
Bird-dogging = very little risk to you. You find properties for another investor, and they pay you a finders fee. Your benefits are that you get paid, you have no additional commitments, and most importantly, You learn how to find houses. This is where you establish your marketing. That call generating machine that has the sellers calling you. (You'll soon understand that this is one of the most important assets your successful investing career can have).
Wholesaling = A little more commitment on your part, Bigger pay days, and now you know which deals are really sweet, and after a while, your hand picking which ones you want to do for yourself. You now know that there are enough deals out there that there is no one house that you must buy because there are enough where you'll find another one soon. (Also important for you to know. This takes the desperation out of your investing, and lets you develop confidence in yourself, and your system.)
Full time = Financial Success. You have your buying machine in place, and the cash is coming in. you know what your niche is, and you're comfortable with that. Your credit score is no longer an issue, and your bills are being paid on time. You no longer need that full time job taking away so much time from shopping, and investing, and enjoying life
It's a simple concept, and follows a natural progression. Kind of like learning to crawl, then walk, then run, then driving, Flying etc.
Now you can do some things that will allow this to change your life style. Establish a stream of passive income for your retirement etc.
I believe that there are lots of well read wannabe investors that have all of the knowledge they need to put the deals together, and know mostly what to do in any number of situations that may rear their ugly heads during the course of a deal, but they don't get a chance to use any of it, because they never learn how to find properties. That's where it all starts.
Just my humble opinion,
Jeff [ Edited by jeff12002 on Date 01/31/2004 ]
I would also recommend reading the posts here inside and out. This is free and fullof information. Decide what market you want to get into and get good at that and then branch into other areas. I would keep this site and the expertise close to you and dont be afraid to ask quetions about what you are doing, after you search the archives for the possible answer. This site has the most indepth, searchable and informative forums of any site out there. As far as I know, there is no competition out there. The owner and moderators of this site are the best, bar none. Good luck