Real Estate Investing for Newbies
Lesson One: Avoid the hype
Thinking about investing in real estate? If you’ve got the cash or exceptionally good credit now is the right time. Even for beginners. But aside from money there is one other very critical factor to real estate investing. That is education. The more you learn, the less chance you’ll be swindled. The less chance you’ll avoid other mistakes that could cause a huge financial loss.
The internet can be overwhelming for real estate beginners. So my suggestion is that you start out by going to your local library. Go to the reference section and tell the librarian you’re looking for the most current resources for learning how to invest in real estate. The librarian will likely access the library’s online database and point you to a list of magazines, newspapers, and of course books. But be on the look out for DVDs, audio books, and pod casts. Also ask if the library hosts any real estate buying classes, many do.
Another option is attending real estate investment seminars. I’ve gotten offers to attend these in the mail. My advice: choose carefully. Stay away from those that charge. Also go with a firm plan not to buy anything. This way you’ll be able to avoid sales pitches without feeling uncomfortable. By all means be prepared to take notes. If you bring a tape recorder you’ll be able to capture everything from the speaker, as well as questions from the audience.
Know someone in real estate? Invite them to discuss investing tools and tips with you over coffee. Make sure they know that at this time you’re only interested in gathering information, that way you get solid information instead of a sales pitch.
* Repost from Invest-Mint