Becoming a real estate investment pro isn't easy. But that doesn't mean it's expensive. There are affordable ways to become a real estate investment pro without having to invest thousands of dollars.
Let's go over those affordable ways below.
If you want to get real world experience, the first thing you should do is find the smartest investors near you. Look for investors who are actually doing deals. You'll to find these people at meetup groups or online through websites like biggerpockets.com. You can also find some of my articles with tips for investors while you're there.
And what you're going to look for is somebody that's allowing you to bring money into a deal without having to be a huge stakeholder in any individual project.
This will give you an opportunity to work with more experienced investors on reviewing contracts, vetting deals and looking at tax and legal structures. If you're putting money into a deal with other investors, they have an interest in educating you on why this is a deal that you should put money into.
Not only are you getting a free education, you also have a chance to make money in the process. And sure, you could pay a "guru" to look over a deal with you. Just remember, a guru won't care about educating you as much as someone else who has money on the line.
So even if you're not making money in those first few deals, think of this as the cost of education and real world experience. But let's say you're not ready to invest or work right away. Don't worry, you've got another option.
If you can't work or invest you should look to attend real estate investment seminars. For example, here in Austin Texas we have the Austin Board of Realtors and other education-based seminars for individuals wanting to learn more about real estate investing.
Seminars are great resources. They're certainly much cheaper in comparison to the thousands of dollars you might have to pay to a "guru" to teach you something. Then there's also the benefits you reap from networking within your local community.
The people you meet at these groups and seminars are real professionals from your community. This is your opportunity to meet with other investors and professionals you can use for other business dealings you're doing.
And the seminars themselves, they're not professional CLD courses. So they're not gonna be over your head in terms of too many buzzwords. The people at these seminars are interested in communicating with you. They won't try to sell you something, like a book or a program. It's just pure information.
For the price of real world experience, a valuable education and the chance to network within your community, you're looking at spending about $100. That might seem like a lot, but compared to your return on investment it's nothing.
I hope the above information was useful to you and I wish you good luck on your quest to becoming a real estate investment pro! If you have any questions feel free to ask me in the comments. And don't forget to share this blog with your friends and family on social media.
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Scott Royal Smith is an asset protection attorney and long-time real estate investor. He's on a mission to help fellow investors free their time, protect their assets, and create lasting wealth.
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