I've considered flipping, no-money down courses, or just working at a real estate office to get in the industry. Is there a "best" way?
2006-12-16 15:15:24 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
NO NO NO NO!!!! STOP! Don't listen to anybody who say "become a realtor" they are either lying to you or are stupid. You will not learn about investing, or cashflow, or cash-on-cash returns, our depriciation or government housing programs our how to get rich as a realtor. You will learn how to never, ever stop working for other people, and never have another Sunday off ever again and never go on a summer vacation again, and spend lots of your own money doing it. I was a REALTOR for one and a half years, until I was lucky enough to have an epiphany one day and ask m self why I was working for people who were making tons of money and I was paying to split my tiny fraction on a commision 4 ways!
Here is what you do: Buy a book by a guy named Dolf de Roos titled "real estate riches" pour a glass of wine, turn off the tv and don't get up until you have finished it (the glass of wine that is) then sit back down and read the rest of this very short and very striaght forward book. Then, if you have any more questions, email me and I will do my best to help. I am now a full time real estate investor, my wife is my partner, and we love our jobs because we help people.
P.S. While you are at Amazon or the bookstore, go ahead and pick up "Rich dad, Poor Dad" too. Seriously, don't become a REALTOR, I will help you, just email me: alqprop@gmail.com
2006-12-16 15:57:07 · answer #1 · answered by turbiville 1 · 0⤊ 0⤋
The best way is to get a job with a Realtor. You will have to take classes on real estate, pass them, and then pass the state licensing exam. That will get you into the industry.
Most of those classes for flipping & no-money down are scams that don't contain enough information to get you started. The only one making money at that is the person who came up with the course. And he gets his money from selling the courses, not the real estate.
You need money to invest in real estate.
2006-12-16 15:26:23 · answer #2 · answered by Lola 6 · 0⤊ 0⤋
A select handful of realtors make millions...the majority do not. They often have to work second jobs to support market downturns. This is not a good position for you. I suggest going through a regular job, create a basis for capital, and invest that capital into other real estate ventures like tax liens/tax deeds/foreclosures/real estate investment groups, etc.
Oh and one more thing -- avoid $3,000 real estate seminars. Go buy a book that can help you with a straightforward answer. One of the best books on real estate I've read below.
2006-12-16 18:03:03 · answer #3 · answered by John Rosa 3 · 0⤊ 0⤋
Several of my friends just took a real estate course at the local community college. They didn't major in real estate and they haven't gotten their BA yet, but now that they've passed that one course, all they have to do is take the state license exam. Once they pass that, they're certified and legally in the real estate industry.
But it IS a lot of work if you do find a course like that, so be prepared.
2006-12-16 15:28:12 · answer #4 · answered by ethersflame 4 · 0⤊ 0⤋
What is your interest in Real Estate?
If you want to be a realtor, it is easy to get a license (2 months), but very hard to make a living in your first 2-3 years.
If you want to be an investor, start by bird dogging for other veteran investors. This way you will learn what is a good deal. In investing you MAKE ALL YOUR MONEY ON THE PURCHASE.
If you want to start in new construction, be an assistant to a builder, (even if you have to work for free for 2-3 months) The best education you will get. ( I lost 60k on my first house, I would have worked for another builder for a year!)
I have built over 25 homes and the experience and money has gotten me into development.
Feel free to ask me any other questions.
SG
2006-12-16 15:25:13 · answer #5 · answered by Sutej G 1 · 0⤊ 1⤋
What are you trying to do. If you want to just make money for yourself by buying and selling real estate for you, then you do not need a license. If you want to help other people buy and sell real estate you will need a license.
2006-12-17 04:54:49 · answer #6 · answered by deletmor 1 · 0⤊ 0⤋
Don't click on "man" site. It's a virus.
Get a Real Estate License and work as an Agent for as while. Get your feet wet there.
2006-12-16 15:18:39 · answer #7 · answered by Anonymous · 1⤊ 0⤋