Best Education for a wanna be Real Estate Investor?

Question

I'm currently going to my first year in a business college and I'd like to know what route would be best for investing in real estate. I want to maybe start a firm where I buy, fix and sell houses (much like most of those TV shows like "Flip this house"). I'm currently leaning towards a degree in accounting but I really don't know much about the finance aspect that would be involved with investing. I understand that marketing would be involved, but I'm really good with numbers, so I'm thinking I'll delegate the marketing and advertising aspect to someone else. Any advice on he best background to have for investing?

Answer 1

Yes, go and find a mentor. There is a lot to learn about real estate and you will need to find your niche. Otherwise, you are looking at a very costly education. Find a professional in your area and see if he/she is taking on apprentices. Try searching for your states "real estate investment association." Join this club and attend the meetings. You will start to pick up some of the terms and get a feel for whom you need to speak/affiliate with.

Best of luck

Answer 2

There are many variables you need to know in order to get into this business. First a foremost is that you need to know market values in your area; this will help you become aware of a great buy and avoid overpaying for a property. Also, you need to have good contractors that will deliver quality at a good price, financing (which loan is right for the project), financial analysis, zoning laws, good legal representative, have a good source for undervalued properties. I am a general appraiser and I feel that knowing values of all types of properties is very useful and the work that I do exposes me to all ends of the business. I have learned a little about everything from construction costs, zoning, environmental issues, legal issues, land development, architecture etc. If real estate is your passion you should try and get a degree in real estate or business administration degree won't hurt either however, most of this business learned by experience. I have by bachelor's degree in Business and it has helped me out in my career.

Answer 3

You won't need a college education for this business. The best education you can get is to learn from someone who's done it in your market. Shadow them, ask them lots of questions, and learn from it. How do you find such a person? Real estate investment clubs, newspaper ads, call the "we buy houses" signs, many other ways.