Finding a job to learn more about the industry

[Iris Burrows]

After reading the article, "How to invest in real estate with no money" I started on a search for jobs to get my foot in the door per say. The article suggests that a good first step to start out in investing is to work in the field where you can gain more knowledge about the way the game is played, all the while building contacts and networking to help you make your first deal. So here's a little background on myself.
I've always dreamed of property ownership, since a small child, playing Monopoly with my family wasn't just a game for me, it was serious, and I wanted that success, but in real dollars. I set a goal for myself to buy my first home a year after graduating college--it took me 2 years. Now, 2 years later, I hadn't accomplished the next goal to buy my second home within 2 years--granted from 2011 to now, the year isn't out, but I'm nowhere near as close to buying the 2nd house as I was to buying the first one. So I need help.
I've been working jobs, paying bills, working to pay bills, and I'm ready to take a leap. I continue to do research on real estate, I watch the shows, I buy books, but I know I haven't done all I need to do, ie. go to REI groups, find mentors, network. So here's the question(s):
Should I get a real estate license? Is it worth the time and money if I really have no interest in selling homes (oh yeah, I have no interest in selling homes--just accumulating them and renting them out)? And what jobs other than the ones in the article should I explore to help me obtain more hands on knowledge of the real estate game? Jobs from article include title company rep/escrow officer, appraiser, investor assistant, real estate agent, project manager, construction worker.

Thanks to anyone who takes the time to read and respond.

[Tom Goans]

Hello Iris,

Congratulations on all the huge successes you have in your life. One that caught my attention is setting goals. Your future appears to be bright and full of opportunity.

Have you read the book “Think and Grow Rich”? It is an excellent book that shares lessons learned from other great achievers in history, such as Henry Ford. I found the book fascinating. Most entrepreneurs have read the book.

Another excellent and short read is “Who Moved My Cheese”. This one will take just hours to read, but the story will encourage you to think outside the box. Do not follow the crowd.

Another excellent book is “The Millionaire Next Door”.

These books are not real estate related, but provide excellent insight and lessons.

Another excellent book written by someone in the real estate business is “Winning Through Intimidation” by Robert J Ringer. The value of this book is to learn how to recognize the types of people you will be dealing with for the rest of your life.

I am a third generation real estate investor, developer, property manager, and financier. Even though I grew up in the business and on a family owed development, my father and grandfather were strong believers in education and continuing education. As Warren Buffett stated; Finish each day a little smarter than you began. When I turned 18, my father required I obtain a real estate license. Not because I needed one, but because it would require me to take many hours of classes to book-learn the business and the laws. I did this until the age of 22 when I had accomplished obtaining both a sales license and then a broker license. I continued my education by attending many more law, tax, and other classes required to be well rounded for business and being successful in real estate. I also obtained a security license in the 1980s.

During this time, I continued to work with my grandfather and father to further my education by learning the lessons they learned over the many years. They also introduced me to mentors, people similar to them with long successful histories. All, but one, mentors are very, very successful, liquid, and frugal. The one shows his success a little more. But, considering his wealth, he is not too showy.

Do you know the difference between being rich and wealthy? If you are a basketball fan, LeBron James is rich, the person who signs his paycheck is wealthy. For football fans, think of Jerry Jones vs. the Cowboy players.

To get back on subject, I am a firm believer in education and experience, both from books and from old timers in the business. I highly recommend you put no value in the real estate TV programs. Remember, the rehabbers and remodelers are getting a paycheck from the Network. You have to live off your bank account. The shows I do enjoy are the ones that have been around a long time, such as “This Old House”. I get ideas and tricks from this show.

I fully support your goals and ideas of gaining more experience through learning the lessons from mentors. This will provide you with a long and enduring pattern of success that comes much easier than those who try to shortcut the process and are hustling every day to make a buck and to keep their investment afloat.

One additional excellent experience that made a huge improvement in my life was attending a 5-day long course in Texas called “The Successful Life Course”. It provided suggestions for both business and personal life improvement and success. A favorite wise saying learned from the course is; If you are not early, you are late. Following this one saying sets me far apart from most and makes me more memorable. Website: www.edforeman.com