You probably have seen the infomercials. An enthusiastic host promotes the financial benefits of investing in real estate. From collecting a steady stream of rental income to enjoying property appreciation returns approaching 100 percent, it seems like there is a veritable pot of gold at the end of the real estate rainbow.
Not so fast.
According to the real estate experts at Utopia Property Management, real estate is not something that you dabble in, and it certainly should be to be treated like a seat at a blackjack table. Real estate investing requires a combination of experience and knowledge to make it a successful venture. You know experience is a function of time, but what about knowledge?
The answer is if you want to invest in real estate, you have to know how to educate yourself.
Let’s look at nine sources of trusted information that can help you start a career investing in real estate.
One of the primary reasons you no longer see real estate investing infomercials on television is most of the highly-reputable experts have moved their presentations to YouTube. Although the revenue-generating model differs on YouTube, the principle of delivering helpful content has not changed. Use the effective search engine to find a list of videos that present real estate investing topics. Before you choose a video or two, make sure the presenter has verifiable experience investing in real estate.
Everyone has a unique way of learning. Some of us prefer watching videos, while others learn more by attending interactive seminars in person. The best seminars that educate attendees about real estate investing do not include sales pitches or get-rich-quick schemes. You want to sign up for a seminar led by a licensed and certified real estate investor who has a proven record of making money by investing in real estate. Read reviews of each event and speaker to determine record and reputation.
Unlike live seminars, many webinars are free and demand less of a time commitment. The online seminars often cover a wide range of topics during presentations that last between 60 and 90 minutes. A live webinar allows you to ask questions and receive answers in real-time. However, a taped webinar still provides you with the bulk of the information delivered by the presenter. Once again, avoid webinars that are obvious sales pitches.
The problem with a live seminar or a downloaded video is that it can be easy to miss some of the important points given in a presentation. Real estate investor novices that prefer a slower approach to learning should consider buying one or more books that educate readers about real estate investing topics. A book allows you to access information virtually anywhere you go, whenever you are ready to learn.
The best education is a hands-on education, which is exactly what learning from a mentor does to help you become skilled at making profitable real estate investment decisions. Ideally, you want to work with a mentor that you know to establish instant trust. Nonetheless, you can introduce yourself to a successful local real estate investor who is willing to spend time showing you the ropes. Your mentor should live in the area where you plan to invest your hard-earned money into rental, residential, and/or commercial properties.
There are plenty of websites devoted to sharing real estate investment advice, but in many cases, you have to tolerate sales pitches integrated into articles and blog posts. Two websites stand out for offering novice real estate investors the opportunity to learn from pros that present nothing but helpful information. There are dozens of real estate articles written by licensed professionals on LinkedIn. Medium is another site that features articles highlighting the expertise of successful real estate investors.
If 2020 has taught us anything about the “new normal,” it is the emergence of the remote workplace. Working remotely has also contributed to an explosion in the number of podcasts, especially on topics that teach viewers how to earn money. The live or taped online broadcasting format is perfect for licensed real estate investors to build credibility by teaching everything they know.
Real Estate Investing Courses Online
From understanding the basics of a real estate investment deal to becoming a pro at flipping houses, there is an online real estate investing class that is tailored made for your learning goals. Some of the courses require an enrollment fee, while a majority of the classes are offered free.
Here are a few tips to help you enroll in the right online real estate investing class:
- Decide exactly what you want to learn
- Learn a little bit about real estate investing beforehand through a podcast and/or a webinar
- Take a class that directs you to other credible online resources
- The more specific the topic, the more you can expect to learn
- The course should present the pros and cons of real estate investing
Real estate investing is not a hobby, nor is it a profession that is well-suited for the faint of heart. You have to make a long-term commitment, and that starts when you educate yourself about real estate investing.