2006-12-11 09:22:52 · 10 answers · asked by May 2 in Business & Finance ➔ Renting & Real Estate
Absolutely not! many of the investors who are very successful in this business did not finish college.
It would be wise to do a great deal of reading and get an education in the field before you make any commitments.
Don't rely on those late nite get rich quick schemes most of those schemes worked in the 80's when the guys that are still selling books and cd's used them.
Start out by learning the market in your area. If you want to own rental property make contact with property managers, they can tell you what the rent should be. Realtors make money at the point of sale. If you do not buy they don't get paid. The whole thing is really a scam.
Don't believe anything anyone tells you, investigate it your self. The seller will lie to get the sale, your agent will lie to get you to buy, and the buyers agent will lie to get you to buy. Trust no-one!
If you plan to rehab and flip, find contractors you can trust. ask for references and check with the BBB. Most likely unless you can do some of the work yourself you will not make money hiring contractors.
Probably one of the best things would be to look for a duplex or fourplex you can buy and live in. get your feet wet before you jump in.
The fact that you are asking questions is a good start.
The really scary thing is the number of scams and rip-offs out there. The links I provide will get you started on your quest. the first is a link to investment 101 on my site. the second is a link about mortgage fraud and investment scams.
feel free to ask me anytime I can help
www.turnkeyproperties.org
2006-12-11 10:22:50 · answer #1 · answered by oldfatcowboy 3 · 0⤊ 0⤋
Some of the answers were very good. No degree is required.Read all you can & go to any free seminars that are offered in your area. Some universities offer MBA programs with emphasis on real estate while others have certificate programs.If you are in NYC- check out Baruch & NYU. Also, make sure you have good & reputable professionals on your "team" such as attorneys( who work with investors), accountants, finance people, mortgage people, home inspection person(certified), contractor, appraiser and other successful investors to get guidance and advice should investment opportunities present themselves. Never get emotional about an investment. If the numbers do not make sense- walk away.......there will be other opportunities.
2016-05-23 06:39:09 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Not at all. An investor is just a person that purchases and sells property for a profit. Just like any other kind of investor you just need knowledge of the field you are investing in.
2006-12-11 09:27:33 · answer #3 · answered by alysiallen 2 · 0⤊ 0⤋
No but before you start out if your still in school finish your schooling unless you have extra money to throw around.
In learning to Buy and Sell Real Estate you need part schooling and part Street smarts to see and understand markets and people and property... It all intermingles together.
2006-12-11 09:28:54 · answer #4 · answered by Scott 6 · 0⤊ 0⤋
Definitely not. A 6th grader (with necessary capital) can invest in real-estate.
2006-12-11 09:26:41 · answer #5 · answered by Michael D 1 · 0⤊ 0⤋
Nope...just lots of money! I believe that you should always know where exactly your money is going, so read up on the basics and you should be fine. If you are ever unsure about anything, go with your gut!
2006-12-11 09:27:32 · answer #6 · answered by everfair 3 · 0⤊ 0⤋
no just money, buy some land, then sell it, maybe improve it in some way, retail, residential, whatever. it helps to have an idea of what your doing i suppose.
2006-12-11 09:27:15 · answer #7 · answered by Anonymous · 0⤊ 0⤋
No... but you will need a pot of money (hence the word 'invest')
2006-12-11 09:27:15 · answer #8 · answered by ca_surveyor 7 · 0⤊ 0⤋
No, you only need money.
2006-12-11 09:30:33 · answer #9 · answered by Clown Knows 7 · 0⤊ 0⤋
No. Anyone can do it.
2006-12-11 09:25:56 · answer #10 · answered by Anonymous · 0⤊ 0⤋