So you want to know if the real estate investment game is for you. How to get started? Where to invest? Why? Do you need a lot of money? Is it risky? Do you need great credit? A ton of knowledge? Do you need to spend thousands on courses and seminars? And on and on and on the questions go!
Real Estate for Beginners
Part of the mission of this Real Estate site is to offer advice to those just getting started, but also for those who haven't had much success, and those looking for less risky methods of investing. Even if you're a seasoned pro with your own Flipping Houses show you will find useful information on a variety of other topics like "Rent to Own", "Options", "Cooperative Assignments", "Subject To", "Contract for Deed", "Real Estate Websites", "Toll-Free Numbers", "Buying Homes", "Commercial Property", "Creative Financing", and a host of related topics.
If you've been researching real estate investing for more than 5 minutes you are no doubt feeling a tiny bit overwhelmed with the mountain of information on every aspect of the business. There's a lot of conflicting information and ideas and if you're studying online then you also know all this investment info is spread far and wide across many forums, blogs, sites, and whatnot. There's a ton of useless crap that won't get you anywhere. And then there's the sales pitches for the $10,000 bootcamps and the $1,500 50-DVD courses that promise to teach you everything you need to know to make millions in real estate your first week.
Right...
What I'm hoping to do with this blog is cut through as much of the junk as possible and give you just what works. It's all free for the taking so enjoy! I am personally in love with low risk (or no risk) investment techniques that don't require money or credit or partners to get started. Why? Because a) investing your own money is risky, b) using your own credit is limited, and c) finding partners when you're new isn't exactly easy, plus you'll feel pretty bad when you lose their money because you didn't really know what you were doing when you bought that handyman special with the swampy backyard.
There's no need to get into high risk-high reward investments right now anyway. Do you really need to try to make $100,000 on your first real estate deal? Would you be happy with a quick thousand or two to get your feet wet? Sure you would. And that's exactly what you'll find here. Simple to understand, easy-to-use, ready-to-implement real estate tips and tricks that even a total novice can put to use right away.
OK, so let's talk a bit about deciding if real estate investing is even something you want to get involved with. There are pros and cons to consider and it does take effort and time so if you're already working yourself to death and have no time for your life or your family then maybe real estate isn't for you. If you can't stand any risk at all investing of any kind probably isn't a great idea either.
But chances are if you're reading this then you have a strong entrepreneurial spirit, some time, maybe even some money or credit (although you don't need them to buy property, they certainly can't hurt). I'm sure you've been reading lots of articles and forum posts and blogs before arriving here, if not maybe you have some preconceived ideas about real estate. The fact is I've been around long enough to have seen new investors come and go all over the internet. A few from each 'generation' (a generation online is like 1 year, maybe less) succeed and build great real estate businesses, while the rest ask a lot of questions and do a lot of research, but never make any money. Eventually they give up and are replaced with a new group of newbie investor wannabes who ask the same questions and do the same studying all over again.
It's my goal to help you get passed the studying phase and into action as quickly as possible with enough real estate know-how and the right tools to start making money. Because the only way you're going to stick with it and become one of the success stories is by bringing home a nice cheque (paycheck for my American readers) to show your spouse, children, or just to frame on the wall of your home office.
Speaking of a home office. You're going to need one if you expect to take this investing in real estate adventure seriously. You don't actually need to set aside a separate room (if you can that would be good though) it can just be your computer desk in the corner, but while you're working, it's your real estate entrepreneur support station, don't forget that! You'll need a phone, computer, and internet access (I suppose you already have that since you're reading this? duh!)
Things you don't need to get started in real estate as a business: Business cards, a company name, an LLC, a toll-free number, a domain name, a professionally designed website, a graduation badge from some $25,000 seminar, a shelf full of real estate courses, a ton of money, an 850 credit score, or any of that other nonsense!
You do need to be able to find and contact people who are buying and selling property (thus the phone and internet). You need a solid understanding of at least one basic investment technique (that's what I'm here for!) and you need the right contracts to go along with that technique. That's it! Really! All the other stuff is just a waste of time and money at this point. You can operate under your own name for now. Until you start making money you don't need to worry about taxes or corporations or establishing an internet presence. The real estate business is about connecting with as many buyers and sellers as possible on a personal level, in person if at all possible, but the phone and internet work too.
The point is...you can get started with much less than you imagine. I completed my first real estate deal before I'd read a single course and I had to write my own contract! (NOT something I recommend, I was lucky I didn't get sued!) If you're like most newbies...which you aren't since you've read this loooong post...you're probably wondering about, if not actually posting questions on forums, along these lines:
"Should I set up my real estate LLC and website before I call my first seller?"
Answer: NO!
"Should I get 1,000 business cards printed or do I need 5,000? Color? Glossy?"
Answer: NO!
"Will 500 'We Buy Houses' signs be enough to bring in calls? When's the best time to nail them to telephone poles?"
Answer: When you're least likely to get arrested.
"I have a 3 inch thick stack of listings from my realtor..."
Answer: Stop right there!
And the granddaddy of them all:
"Do I need my real estate license to invest?"
Answer: NO!
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