Newbie from NW Iowa, Question about education

[Richard Rowe]

Hi all, 

I'm kinda new to the real estate game. I'm a 50 year old Industrial Mechanic, so I can fix just about anything, and my wife is a Industrial Electrician who has went on to get her engineering degree. We own 4 total properties, two of which are rented out. We found these and paid a total of $12,000 for both properties. The bad thing is one is rented out to our daughter, so rent is hit and miss, and the other is rented to a friend's mom who is retired, both are rented out at about 200-300 below market value. We are still positive on cash flow, about $400 a month combined. 

Most of the posts that I read sound like you should be a real estate agent to find the deals. My question would be what can I do to educate myself on the business so I can grow. Is there certain classes (accounting, finance, etc...) that I could take that would help me? Should I try and get my real estate licenses? Right now I could not afford the pay cut. I quit school in tenth grade and have never been to college, and did I mention i'm 50? I really think I could make this work, just the money stuff is what frightens me. 

Thanks for any replies and advice

 Richard Rowe

[Spencer Stensrude]

Hi Richard. Welcome to BP! This forum will be a great resource to learn more about investing. I have also found that joining a local or fairly local real estate investors association (REIA) is a great way to learn localized operating information. There are a couple down in Des Moines and one in Mason City. I am not sure if there is anything in Fort Dodge right now. It sounds like you are off to a great start, so I would recommend you keep doing the deals that make so much sense you can’t say no!