Being a successful real estate investor is not easy. It requires careful planning, an understanding of the real estate market, psychology and the ability to make the right predictions. What’s more, you will need to have a real estate investor marketing plan and know how to deal with people and how to sell the properties. Fortunately, there are many resources that can help you become a great real estate investor. These can be both online and offline and you can get them for free or you can pay for them. The opportunities are endless – you just have to show that you are willing to learn and apply what you learned.
Let’s take a look at some of the best resources on real estate investing and how they can help you become one of the best investors in this terribly competitive market:
We will start with the most obvious resource on real estate investing, the resource that has helped investors for hundreds of years: books. Books are ideal tools to help you learn more about investing because they provide deep insights into multiple aspects of real estate investing. You can learn at your own pace, without additional distractions. What’s more, books can cover virtually any field in real estate marketing, and depending on how they are written, they can have the right real estate investor marketing plan to help you start.
What to look for in a real estate investing book?
- The Author – Is the author an authority on real estate investing? Do they have the right experience in this very competitive environment? Try to learn more about the author and see what he or she has done in the real estate market; usually, you will be able to quickly find relevant information about the author of any book online.
- Work Examples – A good real estate investment book should have many real life examples of successful real estate investment plans, preferably their own or part of their previous experience; also, the book should explain special technical terms, legal aspects, deadlines and whatever else can apply to special situations.
- Contract Samples – Good books have sections that explain the legal aspects of this business; these include agreements, purchase, rental contracts, home inspection guides, closing statements and other forms that will help you in this business.
- Financing Information – Money is crucially important in real estate investing and you should get the right information about financing from your book; ideally, the book should cover multiple financial plans, interest rates, best deals, tips and tricks, programs and financial products that can get you started.
- Additional Resources – As soon as you completed a book, you must immediately have a replacement for it or some type of tool that can bring additional information; these include blogs, seminars, workshops or lectures; also, some books come in multiple editions or series – pay attention to new releases.
The internet is a massive resource for real estate investing and perhaps one of the most used now by new investors. There are tens of thousands of websites, blogs, forums, video tutorials or podcasts to choose from. Also, there are multiple online books, on-demand resources, and private webinars. The online world is virtually an endless environment where you can learn a lot about any real estate investment plan.
Pros of using the internet to learn about real estate investing:
- Different mediums – Written text, graphics, videos and audio recordings that can help you.
- Most resources are free of charge or very cheap.
- There’s a huge variety of instructors, teachers, subjects, and strategies; new ones are popping up every day.
- You have the ability to interact with other new investors or teachers.
The cons of learning real estate investing from online resources:
- The free resources have certain limitations or distracting ads.
- Too many choices and you can become overwhelmed.
- Your questions can take a long time to get answered or they can be ignored altogether.
Seminars are usually offered in person, either one-on-one or in small groups, depending on the program you have chosen. These can last anything from several hours to more than five days. Usually, they cover basic strategies, but sometimes they can be entire courses that will take you through every important step of real estate investing. The main disadvantage of seminars is their cost. Expect to pay $5,000 and more for good seminars. Keep in mind that excellent seminars, by real estate gurus, with just a few students, can cost much more than that.
Pros of real estate investing seminars:
- They are high intensity – you will get a ton of information and the right real estate investment plan in a short time span.
- You’ll get the unique opportunity to meet successful investors and people who are already learning about this topic.
- The learning is completed in real-time – you can ask questions, interact and exchange ideas with like-minded individuals.
The cons of learning from seminars:
- They can be expensive, particularly if hosted by famous real estate investors who have many students.
- There is a high risk of scamming and upselling – pay attention to who the guru is; in some cases, they can be scammers who are only looking for a quick buck.
- You may get flooded with information and it won’t be effective.
Learning from mentors is probably the best way to learn about real estate investing. It gets you the experience of learning one to one from your teacher. You’ll get the right guidance, you will be able to interact and ask questions and get the answers from an experienced investor. You will also get access to his or her strategies, types of contracts, tips, tricks, and other valuable resources: contractors, sale leads and the best real estate investor marketing plan. Although finding a good mentor can be tough, especially if you are a beginner investor, you should try to find someone who can teach you the basics. Ideally, this person should teach you how the market works and how you can make money.