You Paid HOW MUCH to Learn About Real Estate Investing?

“ Put your money into your future, not the guru's. ”

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(iRealtyWire.Org) – I bet I talk to 4 or 5 potential investors per month who have spent crazy money to learn real estate investing. They spend their hard earned money to go to seminars, buy tapes, and read books just to get more excited about spending more money to go to more seminars so they can buy more tapes and books.

Don't get me wrong, education is a beautiful thing. I wish I had more.

But... When I see regular people spending $3000, $7000, as much as $30,000 dollars on so called guru mentoring, and still have yet to purchase a property, or receive a dime in cash flow it makes me wonder what the hell are you thinking!

They all know the proper terminology like cash flow, cap rate, and power team but are still in danger of making bad purchases in bad neighborhoods due to unbridled enthusiasm and unscrupulous property sellers.

What's the answer? I am glad you asked!

Join an investor networking group. Share thoughts, hear about mistakes, and ask questions from your peers. You will learn a lot.

Spend some money on a good real estate investing book. I have been involved in hundreds of transactions in the past 4 years and I still have a copy of my favorite book on my desk right now.

Read it.

Learning the terminology is OK but the most important things you need to know are:

What am I trying to accomplish?

Is it long term wealth building with cash flow properties? (Relatively low risk)

How much risk am I willing to take?

Do I need a quicker cash injection with flipping? (Higher risk)

How am I going to pay for it? Cash, credit line, IRA or hard money?

Once you determine these 3 things you now need to find someone you can trust with your future to help you accomplish this. This is where it gets tricky.

There is a very qualified group of people in every market that consists of realtors, wholesalers and property managers that are intimately aware of their market, trends, good and bad neighborhoods etc... That will spend time consulting with you, giving you multiple references and referrals and help you to accomplish what you want to accomplish. More than likely, they will present you with multiple options and give you the positive and negative possibilities of each opportunity. What they won't do is try to pressure or slam dunk you into what they need to sell.

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