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Updated over 10 years ago on . Most recent reply
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What do new investors what to learn?
This question is for the new investors out there and people who havent really started investing yet. What do you want to learn? What do you think it will take to get you through your first deal? What scares you about real estate investing? Why are you interested in real estate investing? Any feedback is greatly appreciated.
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Originally posted by @Josh Caldwell:
It looks like wholesaling is a good intro for new people. Its easy to understand, and pretty much anyone can do it with little training, and a handful of legal docs.
Do you really believe that? If so, I'm guessing that either you don't wholesale very much or you've been doing it so long that you're out of touch with the reality of the business. Wholesaling requires the knowledge associated with lots of different real estate areas, including flipping (calculating rehab costs, determining ARV, analyzing flip deals, etc), buy-and-hold (determining market rent, analyzing buy-and-hold deals, determining minimum rehab scope for a rental, etc), marketing for deals, marketing for buyers, etc.
Building a successful wholesale business is probably the hardest thing for a new investor to do, not the easiest. I know many more failed wholesalers than failed flippers or landlords.
To elaborate on my point from earlier, it sounds to me like you're thinking more about how you can make some money from all this coaching than what's in the best interest of your students. If you cared about the success of your students, the content of your teaching would be obvious -- you'd either give them what they're asking for, or if they can't tell you, you'd focus on whatever real estate strategy(s) are most likely to be successful in YOUR PARTICULAR MARKET.
If it's not obvious what you should be teaching new investors in your own market, I'd suggest holding off charging people money for education...
Just my $.02...