I'm a member of the major real estate investing clubs in Houston and I've spent plenty of money on my license and education for my business, not to mention seminars. I have plenty of positive things to say about that. However, I would caution my clients and all would-be clients that while education is important, if you're spending $10's of thousands on it you need to reassess your path. That's money you are throwing away that you could actually be using towards a house. I don't claim to be the end-all-be-all guru but I do buy property with my wife and we are successful landlords and I do love and am passionate about real estate as an asset class due to the tax benefits and control that it offers over other types of investments. If we're working together, you're not spending money on education. I have often offered to give whatever information I have for free based on my years of experience. That's what a trusted adviser is supposed to do in my opinion and in my mind, it's my job to 1) try to keep you out of trouble in this business and 2) save you money.

The biggest secret of our business is the riddle: "How do you make $10k easily in real estate?" The answer is "When you find out, let me know". Think carefully on that before you sink your next $10k into a seminar. If you're wholesaling or flipping, those are jobs unto themselves. If you are landlording, wait until you go through your first major eviction and then tell me what you think about "easy risk-free profits". The reality is that there is work and required knowledge involved with this business and there are also absolutely big profits that go with it. For me, it is worth it to be my own boss and steer my own ship and leave corporate America and not have other people dictate my destiny to me. Many people don't want to hear that, they want to hear that this is easy and risk free and you'll make a million from your couch on your laptop. If you do that, let me know. I'm sure you will be able to sell a seminar on it. I love real estate while keeping an eye on profits versus risk, not hype.

The article below was sent to me by a colleague; I hope you gain value from it:

http://www.moneysense.ca/property/income/how-to-ma...

Yours truly,

Tim LaBorde

I'm active on Facebook and LinkedIn and I would love to network with you and share ideas!

https://www.facebook.com/tim.j.laborde

https://www.linkedin.com/profile/view?id=AAIAAAIVW...

1 Vote