How is the big money made in real estate investing?

[Nolan Selby]

I am very new to real estate investing and have a big questions. How do people make the big money in real estate? Like Grant Cardone, or Manny Koshbin.

[Scott Mac]

So I'm going to add on to this post---and answer the question I think you should have asked.

"How Can I Get Started"

[1] Knowledge of what you want to do, and what you don't want to do.

For instance I want to make money by housing people in clean decent housing (for a good profit), but I don't want to be the guy doing it in dangerous areas, or in rent controlled areas. This is my passion.

Not everyone want to house people, some just want to collect the rents, some want to flip, some want to do what they call wholesaling--which to me is more of a self employed situation than actual investing, although I do see the overlap. Some want to Air BnB. Some want to buy a duplex and live in one half and rent the other half.

[2] Once you think you know what you want to do--educate yourself on it 100%.

[3] Get to know locals who are doing what you want to do. Once Covid is over, go to meetups and etc... and make friends. Birds of a Feather flock together.

[4] Begin to get your floor amount of money saved.

[5] Are you a USA Vet (???) If so there are Zero Down Veterans loans you can leverage if you think it is wise to do so.

[6] Maybe you look into this and decide it's not for you, and you'd rather own a 7-11 and spend your time writing checks to the soda delivery company--because despite what anyone tells you--it IS work....(is it the kind of work you want to do to make money???)

Good Luck!