New REI trying to learn on my own!

[Jason Caputo]

Hello Everyone!

There are many things I would like to say to "new investors" that I have learned on my own. First off, don't waste your time on all the so-called "gurus" what they are selling is motivational talk and then they give you nothing once you are in. These people were not good enough to continue investing in real estate so they had to "re-brand" their desperation to take "other people's money. I will get off that soap box. 

I am still in the learning stage and have not done my first deal because of still being in the learning phase. What I have done is read a lot and not off the Internet entirely. I actually did go to the old fashioned library and started reading any Real Estate Book I could get my hands on. I even bought a real estate broker book and read that. I think as new investors we see the dollar signs and walk a dangerous path that could put us in legal trouble when following the so-called real estate gurus. It may take more time; but the best advice I can say is invest that time and money in yourself. When you feel as if you have enough knowledge in your bag, consider a mentor. Someone in your area who can and will give you sound advice. I have a gentleman who is a real estate investor in my area and has agreed to "show me the ropes." Network with people as much as you can in person!

The biggest question you have to ask of those gurus is if they made so much money in real estate? Why are they "selling" you a course on how to invest in real estate? They should be out there investing in real estate. What many new investors do not realize is that real estate investments do require money.  I would love to get to know some of the experienced investors here! Would also be great to hear how you got started? I look forward to meeting people in my local area!

Regards,

Jay

[Todd Dexheimer]

@Jason Caputo did you go to college? Many on here went to college and spent $40k+ on school and now are doing real estate investing full time or dreaming of REI. They went to school to learn about a career path, then quit (or want to quit) that career to go into REI. Why is it ok to spend $40k on school, only to stop using what you learned years later, but it's not OK to spend money on REI courses to become successful? For some reason the REI teacher gets a bad name, but the University is the holy grail.

I am self taught, but the road was long and bumpy. Had I taken a guru course or 2 there is a good chance it would have saved me time and likely made me money. Where the guru's get a bad name is they over promise to get you in the course. People go in thinking they will make a ton of money with no effort. They then find out it takes a lot of effort, eventually quit and cuss about the guru, then go out and take another guru course on a different strategy of REI and rinse and repeat. It's the shiny object!

I know BP is not pro guru and I am not trying to sell anyone to take a guru course, but you need to decide what is right for you. I shutter when I hear someone dropped $30k+ on a guru course and hasn't done a deal yet, but then again that person may end up doing hundreds of deals and making the most of it. I think the most important part is know yourself and know what you like about real estate and focus on that.