How to get a free education in Real Estate
by James Miller
Buy Real Estate Investing information on E-bay.
I know what you are thinking, buying something doesn’t sound “free”.
It does however becomes free after you read or listen to the information and sell it back on eBay. As far as I know there is nothing illegal with this as long as I don’t make a copy of it. In some instances I have actually been able to get a higher price for the information when I sold it back. Tip of the hat to Tony Robbins for being so popular.
This is the most obvious as you are clearing searching it already.
Blogs are a great interactive sources of eduction as well as many of the sites that give away free information such as Dan Auito’s. Dan has several quality free E-books on Real Estate investing and as of this writing 651 articles on Real Estate investing. Dan also doesn’t require you to give up an e-mail address to get his information.
There are many free webinars and phone in’s that I get invited to via e-mail on a very regular basis.
Ron LeGrand seems to have a perpetual team of people offering these freebies in order to get you as a customer. Keep in mind that most of these freebies are intended to get you to pay for something they have to offer eventually. This means that you will have to sit through spurts of sales pitches and resist the temptation to pull out your credit card.
I am a big fan of Ron LeGrand. Even though people like John T. Reed feel he charges a premium for the information he provides. I feel I have gotten more than my monies worth for the events I have went to.
Once you are on their mailing list, Guru’s like Ron offer free, or very low cost two to three day seminars on Real Estate Investing. Just like the webinars and phone in’s they really want to get you as a customer for one of their boot camps, or other higher ticket items.
If you can sit through a few sales pitches and resist their irresistable offers, there is a lot of good information to be gained at these events. For me, the biggest value was that it opened my mind to investing ideas I would have otherwise never thought of or known about.
…As the Chuck Langenberger 27th law states “You don’t know what you don’t know.” Although I am sure he isn’t the original author of that… If anyone knows the true origin of that phrase, please let me know.
Find a Mentor
Call Real Estate Agents, Attorneys and Title companies. Tell them that you are getting started in Real Estate Investing and trying to find someone who has been around the block a few times. Tell them that you are looking for someone who has done a few deals or is otherwise active in the local Real Estate community.
Once you get a name, call this person and ask if they wouldn’t mind taking a few minutes to talk with you over lunch. You will, of course, be paying for their lunch.
You will want to do at least 90% of the listening during this lunch. The 10% talking that you do do, should be to thank them and ask pertinent questions like:
“How did you get started in Real Estate?”
“What would you recommend that I do to get started?”
“What do you find are your most successful investing strategies?”
You also need to be very respectful of their time.
This small effort on your part can open up a doors that you don’t even know exist. These people are also be likely to be well read in Real Estate investing, have a good library of investing information, and a network of knowledgeable friends and associates that you may be able to tap into.
Real Estate Investing clubs often let you attend the first meeting or two for free. Meetings after that usually require you to become a member which is often only a nominal fee.
In the unlikely event that there is no investing club in your area, you should create one. We learn at no faster rate than when we are trying to help educate others.
Creating a REI club can be as easy as posting a note on convenience store bulletin boards saying “Looking for like minded people to start a Real Estate investing group.” This will take some work, but will have the added benefit of opening up networking possibilities through the individuals you meet.
Baptizim by fire
Do a deal.
Yes, there will be many things you screw up as you stumble around, but this education of hard knocks can be taught no other way. I know I learn best by doing. It is where the rubber hits the road. You will have to do your first deal eventually, so you might as well get started now.
Don’t let the fear win. Just start taking steps to make it happen.
In my experience 90% of the things I am afraid of never come up anyway. The stuff that does jump up to bite you won’t even be on your radar until you are in right the middle of it.
The public Library.
The first Real Estate investing book I ever read was William Nickerson’s “How I turned $1000 into 3 million in my spare time in Real Estate.” I was 18 and I got it from the public library. It was novel to me at the time, but I didn’t know then that twenty years later I would be buying the book for my own personal investing library.
I still enjoy the library as a great place to find information and a quiet place to sit and read.