Real Estate Investing Education (How & Where to Learn)
In this guide I’m going to give you 5 ways you can learn about real estate investing and give yourself an education so you feel confident trying to do more deals this year.
Typically, beginners hold themselves back due to mental objections like this one in this video.
And one major objection you may be thinking is “I don’t know enough about real estate investing yet to get started” which is okay, but..
There is a line between learning everything there is to know about real estate investing and actually getting started.
If you spend too much time analyzing and learning, you’ll never take action and get started.
Method #1: Research & Self Development
It’s important to spend time online searching the internet for knowledge that other people have posted. You’ll be able to learn a lot from people who have already done what you are trying to do.
They’ll show you their successes for motivation and failures to help you avoid similar pains and set backs.
This is why continuing to build your real estate education over time is vital to your success as you grow your business.
Along with the free internet world of information, you can also purchase books, watch videos on YouTube, and download podcasts of real estate investor shows.
Here are some recommendations on what to learn and who to learn from.
- Books – Investing, Market Analysis, Deal Analysis, Negotiating, Strategies
- Video Lessons – on YouTube, Udemy, Paid Courses (like my courses)
- Audio Podcast Shows – BiggerPockets, My Podcast (Under 30 Wealth), and others
- Online Articles, Blogs, Websites
Method #2: Networking Events & Mentors
Attend your local real estate investing meet up club events.
You’ll find other investors, beginners, wholesalers, real estate agents, lenders, etc. at these events trying to network and grow their business.
Find a mentor to work with and talk to.
Method #3: Work as an Assistant to a Real Estate Broker
A great way to get experience in the real estate industry is to work for a real estate broker as an administrative assistant.
This doesn’t require you to get your license, so you simply apply to be an assistant and get hired.
I did this for a RE/MAX brokerage firm during my college days in Columbus, Ohio while going to school at Ohio State University.
I learned a lot about contracts, the closing process, and the MLS (multiple listing service) during my time on the job as well as many other things from the questions and conversations with agents in the office.
Below is a list of activities you can do as an assistant to grow your experience and knowledge of real estate.
Permissible Activities of an Unlicensed Personal Assistant
- Answer the phone and forward calls
- Fill out and submit listings and changes to any multiple listing service
- Follow up on loan commitments after a contract has been negotiated and generally secure the status reports on the loan progress
- Assemble documents for closing
- Secure documents (public information) from courthouse, utility district, et cetera
- Have keys made for company listings, order surveys, termite inspections, home inspections, and home warranties with the licensed employer’s approval
- Write ads for approval of the licensee and the supervising broker, and place advertising (newspaper ads, update websites, etc.); prepare flyers and promotional information for approval by licensee and the supervising broker
- Receive, record, and deposit earnest money, security deposits, and advance rents
- Only type the contract forms for approval by licensee and supervising broker
- Monitor licenses and personnel files
- Compute commission checks
- Place signs on property
- Order items of repair as directed by licensee
- Prepare flyers and promotional information for approval by licensee and supervising broker
- Act as a courier service to deliver documents, pick up keys
- Place routine telephone calls on late rent payments
- Schedule appointments for licensee to show a listed property
- Be at an open house for security purposes and to hand out materials (brochures)
- Answer questions concerning a listing from which the answer must be obtained from the licensed employer-approved printed information and is objective in nature (not subjective comments)
- Gather information for a comparative market analysis
- Gather information for an appraisal
- Hand out objective, written information on a listing or rental
Method #4: Grab a Part Time Career in Real Estate
In a previous article (11 Real Estate Careers to Earn While You Learn), we discussed the numerous career paths someone could take in real estate to earn a living.
Consider trying out one of the careers from the article linked to above simply for the experience and not necessarily the money.
The money is an added bonus that will allow you to acquire more property in a shorter period of time or support your existing investments with upgrades you’ve been wanting to do and/or emergency reserve funds.
Method #5: Find a Real Estate Investor to Mentor Under
This is probably the best route to your success. Why?
Because working with someone who is already investing in real estate is a great way to get first hand experience without taking on risk since you are assisting someone else’s business.
You’ll want to find a mentor who is in the same niche as you.
For example, if you want to flip single family houses, find someone who is flipping single family houses in your area.
Ask to work with them for free (the value your provide them) in exchange for lessons and mentor-ship (the value they provide you in return).
Overall, apply these 5 methods to your education process and you’ll grow a lot as an investor. I’d love to hear which real estate investing books you’ve read that you found value in! Comment below.
- How to Create a Real Estate Website for Your Business
- Should You Set Up a Legal Entity for Your Real Estate Business
- How to Create a Business Plan for Real Estate Investing
- How Do You Make Money Investing in Real Estate?
- Selecting Your Real Estate Investing Strategy
- Real Estate Investment Analysis Rules of Thumb to Know
- 20 Reasons You Should Own Real Estate
- Can You Invest in Real Estate with a Full Time Job?
- The Ultimate Guide to Finding Investment Property to Purchase
- How to Quit Your Job With Real Estate Investing
- The Ultimate Guide to Financing Real Estate Investments
- The Ultimate Beginner’s Course to Real Estate Investing
What to Do Next?
- Sign up for our FREE 10 day email course on real estate investing
- Grab our cheat sheet of 10 marketing strategies to get more property leads
- Check out our YouTube channel for more helpful tips and lessons on real estate investing.
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