What is a good resource for beginning real estate investors?

Question

I'm a beginning real estate investor, and would like to know of resources (i.e. books/people/internet) where i can get info on buying houses for resale and for rentals. But just want to gather information that will keep me from making costly mistakes and avoid pitfalls.

Answer 1

Unfortunately you missed the boat on this business by about 5 years. I would check out other business's, for this will be a sleeper for a few years. Unless, of course, you have money that can sit for the long term with no real gains.

Answer 2

A beginning real estate investor should have as a good resource a trusted friend to talk him out of it.

If the beginner is not to be convinced of the poor chances of an individual investor (not backed by a firm, real estate investment group, or other money), then that beginner needs to spend hours and hours reading every piece of information out there. Ignore the folks on T.V. because they are salesmen making money from videos and books off of saps.

Read investor blogs.

Go on over to Ben Jones' blog and read the critics. www.thehousingbubbleblog.com

Stop by housebubble.com because he's got a huge list of links, categorized by type. You can read about financing, the market, and more.

Read the below analysis:

Answer 3

I really dont think its that simple. I am relatively getting started in a similair field and there are lots of things that need to be covered. You need to find real estate people. You need lots of capitol or investors if you dont have them. Unless you want to run a lot of credit. You need to have a good eye and know what you want and what is gona make you money. I would be going to open houses on weekends and constantly checking the mls. I would also be following the valuers of houses in certain areas and see how much apartments are for rent so you know what you can expect. I would also recomend not skimping on inspectors because unexpected problems can turn an investment into a loss. Good luck.

Answer 4

What none of these jokers are going to tell you is, its all about cash. If you don't have, say 50% of the value of a 4 unit building in the area where you want to invest, you can't make a living investing in real estate.

Otherwise you'll have to have a job that pays your personal expenses for every month while you build up equity in your real estate investments that you have a 10% down on.

To really learn, get a real estate licences and get a job with a commercial real estate broker.

Answer 5

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If you've been around the real estate business for a while, you've probably heard of at least one investor who shockingly found him or herself suddenly staring into an abyss. Maybe contractor errors forced him to deplete his working capital before a rehab was finished or maybe she crossed into the danger zone with a rental property due to unexpected vacancy or delinquent tenants. Catastrophes are, unfortunately, common occurrences with investors and often result in severe consequences such as liquidating a property under renovation for a loss, foreclosure, loss of good credit or even personal property. Whatever the particular brand of pain for these investors, it's highly likely they didn't have a business plan in place. That’s where their downfall began.

The Real Estate Business Plan can help you avoid such disastrous results. No one wants to go through hard times and there are some steps you can take to increase your chances of avoiding difficulties and running your business with greater ease. This easy and affordable product is designed for everyone and can help you avoid those icebergs.


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Are you skeptical about the need for a business plan? Have you ever thought, “I'm doing fine with my business and don’t need one,” or “I like to ride by the seat of my pants.” Maybe you’ve never given it any thought. Regardless of your answer, planning in any business is essential to maximizing success.

Even if disaster isn't about to rear its ugly head, you may wish to grow your business or change the direction it’s going. A business plan helps you do that. Are you spending too much time away from your family or friends? Do you sometimes feel you’re spinning your wheels? Well, maybe you are. Planning can help you avoid disasters and ensure that you’re not wasting resources, including time.


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Answer 6

Go for Minneapolis, some place near downtown there should be a forest between suburbs close enough to downtown, apropiate to buildings 30 stories high, every one costing 80000, and providing you 25000 dollars net. In the city hall and real estate federal agencies you will be able to find and argue different prices. Think of the environment and the smells, sure will come up with a good project, discuss it with your parents and reject the idea of mass income on buyers, they smell it and hold on the buy. Attempt to be charming without being distressed, you will learn it from the start if remain unfocused. You know your shitt.

Answer 7

It is never too late. The best way to start is by (1) analysing a location you are familiar with: a state, city, or even just a street you have been knowing for a while. (2) Assess the market trend of prices throughout a period of time. Finally, (3) ask, ask, and ask around people you know what they think about the market in the area in scope.

Answer 8

The best information on Real Estate Investment I've seen is the Carlton Sheets corse on CDs. I bought it and can tell you it covers everything. It even covers creative financing methods that don't require any money out of your pocket. It's all done with other people's money. It also helps to have a good credit rating to start with.

Answer 9

I am interested in getting into this too. I have read Rich Dad's guide for investments and Buy Rent and Sell of the tips and traps series. Both were extremely informative for books. I think the key is finding someone who does investing to show you the ropes. Easier said than done, right? Good luck to the both of us. :)

Answer 10

this is not the best time to start real eestate investing take my advice especially if it is in really former hot market like South Florida, Phoneix, Greater LA area. all the home buidling stocks are doing horrible, and the sales are really down. My friends in that industry are at risk of loosing their jobs.
anyway if you are still interested take more intereset in the construction and renovating and buy and fix run down houses with through the roof potential.