No prerequisite experience needed?

[Account Closed]

I know one of the big things with Real Estate Investing is that people always say you can get into it with no cash, no credit and no experience. While I believe this is true, to a point, I think the no experience thing is the hardest for me to stomach. I got into Real Estate 17 years ago and I entered the field by becoming a Realtor.

I did not have a clear entry point into investing and decided that becoming a Realtor may open some doors. It gave me the added bonus of being able to actually make a living while I learned the ropes. I was a twenty something kid only a few years out of college and had ambitions. I only remained a Realtor for about 4 few years because I quickly learned it was not the profession for me. During that short period of time I learned a ton though.

I became comfortable with the Real Estate “process”. I learned to read and understand contracts. I knew what a retail buyer looked for in a house they wanted to purchase. I gained intimate knowledge into the mortgage process and qualifications. I studied my local market. I became acquainted with property management and tenant rights. I made connections and built friendships with other professionals in the industry. All of this was done while making more money than I ever had before (granted it wasn’t that much) and building the confidence to have a clearer picture of my path ahead.

I think I would have survived if I had chosen a different path, but I look back on those days fondly and still references the experiences I had. Do you think people need some level of experience to enter the Real Estate Investing world? What do you think that experience should be? Or what do you think the best experience would be?