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One of the questions I’m commonly asked is where one can get an education in real estate investing. I imagine many other agents get asked this question quite a bit also. Plenty of people at open houses have asked my opinions on these ads they see and hear on the TV and radio promising Foreclosures for less than $10,000 or how they could get started learning useful information about real estate investing.
It’s not an easy answer, since it’s not like many schools and universities offer an accredited real estate investing for beginners class. There are some investors who offer online training and some even in person, but it can be an expensive journey that may leave you with less money and not really any more knowledge or experience than when you first started out.
Some people interested in real estate investing decide to take basic real estate classes and may even get their real estate license – only to unfortunately learn later on that this isn’t going to teach them anymore about investing either.
So how do you get an education in real estate investing?
The first step for many is to start reading books. You can read just about any book you want for free if you know where to look – the library, free ebook downloads online, book swaps, etc. etc. Checking second hand stores and flea markets isn’t a bad idea either. Most books are pretty inexpensive -there are plenty of Real Estate Investing Books on Amazon
After you read about investing, you’ll have a good idea if its something you’re really truly interested in and can understand enough to get started. The next step in getting an education in real estate investing is to find a mentor and somebody who can guide you to getting the experience that really teaches you the ropes.
This can be done in a variety of ways. One place to start is by calling up local investors in your area and seeing if they offer an apprentice program, training, or would be willing to let you work for them for free in return for learning things. Many people automatically assume you have to pay for an education – but you can often simply get the knowledge you need simply by volunteering to work for no cost at all. Sure, you won’t get a pay check and will likely put in a lot of hours, but it can also save you thousands of dollars, especially if you continue to keep a part-time job or income somewhere else. And the investor wins too – he or she will get somebody to do those things they would probably rather not do for no cost to them at all!
If you’re a real estate investor, why not share your story in the comments below? How did you get an education in real estate investing?
One Comment
Simply put.. I paid around $18,000 for over 2 years of education. You brought up some great ideas for those that absolutely can not create the money needed to get educated but careful who you choose as a mentor. I have made that 18K back in cash about 70x over the past 3.5 years. Remember education doesn’t cost it pays.