How do I get started with Real Estate Investing?
Joe S asked:
Also, are there any myths and misconceptions about Real Estate Investment that I should know about?
Vancouver WA Realtor
Also, are there any myths and misconceptions about Real Estate Investment that I should know about?
Vancouver WA Realtor
Posted in Renting & Real Estate | 7 Comments
July 31st, 2010 at 6:38 am
Hermosa Beach Dentist#BREAK#
Read “Home Buying for Dummies.”
August 1st, 2010 at 4:48 pm
Hermosa Beach Dentist#BREAK#
If you want to get started, then you better start from the beginning and START reading.
if you’re thinking of making a quick buck, then look for something else. Don’t be drawn in from all those commercial; it’s hard work. If you heard of Robert T Kiyosaki who wrote “Rich Dad Poor Dad” and want to follow his path, then good luck to you.
Right now, the real estate market is a buyer market. It can bounce back from it down turn. However, in my opinion, I don’t think we’ve seen the worse. And believe me, it can get really ugly.
August 4th, 2010 at 5:02 am
Baltimore Maryland Real Estate
Myths and misconceptions aside, not everyone is cut out to be a real estate mogul! The first question you need to ask yourself is,” can I put up with those crazy *** tenants another day”? If it’s commercial property it can be a bit easier than residential. Naturally, it will be quite a bit more expensive to get into, but that’s where the $$$ is! You need to have a thick hide when you’re the landlord, because every tenant is different. Some are great, pay on time, don’t ask for the extraordinary and such. Others, are a pain in the ***! It’s that simple!
August 7th, 2010 at 7:10 am
Flathead Lake Real Estate
Lots of misconceptions including that it’s easy money, the market only goes up, you can’t lose, you can buy lots of houses for pennies on the dollar, etc. This is one of the most scam-filled areas of all to try to make a living in.
When you want to start, makes sense to decide WHAT you want to do in RE.
Do you want to be a landlord? Single homes or units in something larger?
Do you want to flip houses?
Do you want to be a developer?
Do you want to do COMMERCIAL RE instead of residential?
ALL of that takes a lot of know-how, skills, and money no matter what liars claim about being able to do it for free.
You can invest more simply by reviewing info and purchasing REITs on the stock market–can get a decent return IF you do your homework which includes understanding how the market works.
You could, if you have a LOT of money, invest in a development company.
You could, if you have skills and some friends with skills AND MONEY, form a small business and do something in RE.
You’ve got lots of of options, but it always starts with homework AND money you will NOT need for a good long-time AND a back up plan on how to get as much as you’re putting in based on an educated summary of costs in addition. In other words, people who just start out probably underestimate costs by half. Even experienced people get caught with expenses at times, but novices seem to just believe the BS others have told them about “pennies on the dollar” buys.
Read how a tax lien REALLY works–nothing like the infomercials claim.
Read about REAL foreclosure procedures.
Learn what “as is” REALLY means.
Find out what requires permits, how zoning works, how to speak “contractor time” and more.
Fail to do that and you are in serious trouble. It’s not 2005 anymore when a chimp could walk in and lay down money and walk away with big bucks.
August 7th, 2010 at 8:25 pm
Flathead Lake Mt Real Estate
With extensive education and possibly a mentor.
August 9th, 2010 at 10:52 pm
Palos Verdes Dentist#BREAK#
Read “The Millionaire Real Estate Investor” by Gary Keller
August 12th, 2010 at 5:12 pm
Mar vista real estate
A great way to start out in Real Estate Investing is through wholesaling properties.
Wholesaling provides you with opportunities to gain income which you can use to purchase properties for yourself. The great thing about it is that it is relatively risk free and does not invovle much capital to start.
You can read my blog at or visit my website at to browse through many listings posted by memebers. There are plenty of properties out there worth looking into.
Good luck!