OK I Believe, But WHAT Books? WHAT Courses?
Hi:
I'm brand new to this.
I've got about 50K and great credit. I work for myself as a software developer/consultant and I'm looking to move into real estate investment.
I've been reading your posts and keep seeing 'take courses'; 'read books'.
There are a TON of them out there and my experience says not everything written is worth reading.
I'd probably like to buy and sell at first so I'm *guessing* forclosure/pre-forclosure? Also I see that this forum has far and away the most posts8-)
Do you have any specific recommendations for me?
Is there any way I can buy used/pre-owned books & courses with a proven track record?
MAtkins,
Two names come to mind for a crash course in creating financing in the Real Esate market.
Peter Conti & David Finkel
They co-authored to great "crash course" books titled "making big money investing in real estate without tenents, banks, or rehab projects" and "making big money investing in forclosures without cash or credit" These books are truly two of the best books i have ever read. I recommend them.
SacVestor
Join your local REIA!! (Real estate investor's association). They have subgroups all over the country.
It is without a doubt your best option!!
A great place to start is TCI's product & service area at http://www.thecreativeinvestor.com/Shopping_Cart-index.html
[addsig]
I'll agree that there is a ton of information out there, but disagree on the worth reading part. Everything I've ever read was worth reading. I learned something from everything, even if that something was how NOT to do it. Get the picture?
As far as where to start, I'd recommend the local library. Get as many books as you can on real estate investing, home buying, home selling, financing, running a business, etc. There should be enough there to get you started on a particular form of investing. From there, you can delve into the $$$ and start buying books/courses specific to the type of investing that you want to learn more about.
Keep in mind during your learning time though that investing in real estate is a rather simple process (simple does NOT mean easy however), regardless of how complicated the course writer may make it sound. You find a property, you buy a property, you sell a property. Regardless of which method of investing you choose, they pretty much all boil down to the above process.
As keep in mind, too, that REI is not always as easy (read above) as the course writers make it sound. Always put your real world knowledge and common sense into the total scheme of the information.
Roger
I completely agree with Rajwarrior, the library is the investors friend
I would also reccomend talking with people in the industry, not just through forums buit through personal interaction. Call property mgrs, lenders, realtors, etc.
GL
Well, guys thanks for your replies.
8-)
I went to the library, thanks for the suggestion. It was closed due to the hurricane.
I can't agree w/ you about reading anything and everything. I'm kind of new to RE Investment but not at all to learning. I'd much rather read credable material.
I was hoping to get some specific references from experience.
Anyway, I do appreciate your feedback and hope to be involved here for some time to come.
Oh I bought 2 books 'Real Estate Flippling' by Mark B. Weiss and 'Making Big Money Investing in Forclosures' by Peter Conti & David Finkel. The authors 'looked' pretty solid. We'll see what happens
I like Russ Whitney's books for overall info and motivation. Mark Warda is the best for legal stuff and asset protection. Robert Shemins book on landlording is unparralleled. Robert Allen's No money down book is good for formulating numbers and deals, Rich Dad stuff is good for motivation and very high level information. This should give you a start
There is an overwhelming abundance of information and coursework relating to real estate. Personally, I think your best bet right now is to start off with a real estate book that covers many real estate opportunities in a broad and but concise fashion. With the amount of cash you have available, there are lots of opportunities for you to invest into- not just foreclosure. Reading a book with lots of options will allow you to choose the real estate method that is most interesting to you. My personal favorite is Russ Whitney's Millionaire Real Estate Mentor. (I a fan of buying books written by investors who've made millions- they're the ones to learn from.) After you decide which avenue you like, I would purchase some more books about that specific opportunity.
Hope this helps. Good luck!
Heather
Thanks very much.
This is a big help.
I'll look for some stuff by Russ Whitney and then go from there.
The best training material I have read is Fast Cash In Foreclosures by Steve Maletos. Its easy reading and a pretty inexpensive course. Here is a link:
http://www.fastcashinrealestateforeclosures.com/cgi-bin/nph-at.pl?a=292402&e=main.htm
MAtkins,
Two names come to mind for a crash course in creating financing in the Real Esate market.
Peter Conti & David Finkel
They co-authored to great "crash course" books titled "making big money investing in real estate without tenents, banks, or rehab projects" and "making big money investing in forclosures without cash or credit" These books are truly two of the best books i have ever read. I recommend them.
SacVestor
MAtkins,
Two names come to mind for a crash course in creating financing in the Real Esate market.
Peter Conti & David Finkel
They co-authored to great "crash course" books titled "making big money investing in real estate without tenents, banks, or rehab projects" and "making big money investing in forclosures without cash or credit" These books are truly two of the best books i have ever read. I recommend them.
SacVestor
I've read many good books on the subject but an obvious question is; If the technique in the book works so well why is the author writing books? Why not just go out and use their own techniques and make millions? The only reasonable answer I've found is that writing books involves very little risk. The risks in real estate investing is much greater.
Another life-story book of a successful investor who is still investing (buying and selling about 10 properties a month) is "From Cop to CEO" by Chuck Smith. His info is up-to-date. He doesn't do much traveling and speaking tours (usually), as his main interest is in DOING the business. I highly recommend him. At the end of his book, he suggests others who have either mentored him or whose instruction has helped him reach where he is today. Among those he recommends are Rich Dad/Poor Dad (R. Kiyosaki) and Ron LeGrand.
Check him and his story out.
P.S. The profits his books and courses make are donated to charities, as he "lives on" the money he makes investing.
P.S. Joining your local REIA club is very important, as you can network with others and get ideas/imput from them. Caution, however, should be exercised, because most REIA meetings have guest speakers who are selling courses and/or boot camps. The best thing to do is check out the guest speakers ahead of time so as to not get "caught up in the emotion of the moment" when the sales pitch comes. You already know whether you're looking to buy what they're selling.
Hope this helps, and wish you success.
Here's some places to start Dolf Roos, Ken McElroy, they are of the rich dad series. As mentioned above Russ Whitney, I actually attended one of his tranining seminars. Those are just a few, visit your local Barnes and Noble and go to their real estate section, and of course this site has some really empowering information.