New to the business. Attending a workshop to educate myself

[Cynthia K. Anderson]

Hello local investors. I am attending a real estate investing workshop hosted by Fortune Builder"s Than Merrill, and I must say the information is valuable and useful. The speed at which the information is delivered insures you'll want to know more.  So now they are offering classes and more education for 50,000. Do I really need to invest that kind of money to be a successful entrepreneur and investor? If not, what do I do next?

[Josh Braun]

@Cynthia K. Anderson - here is the route I took and it has paid off:

1. Buy and read Jay Scott's book on flipping houses and book on estimating rehab costs.  Read it front to back twice and take notes.
2. Analyze 100 deals (on and off the MLS); you have an opportunity right now to gain hands on experience on the analysis side and that will equip you in creating awareness of what a deal is, what it looks like, smells like and what is not a deal. FYI - in Nashville, 98% of deals are off market, not on the MLS.
3. Join and start attending the local REIN group here in Nashville
4. Connect with 10 people at REIN who have done a deal or are doing a deal
5. Find a deal or find money; once you have one of those, one of those 10 people you connected with will help you with the rest.

The difference between students (those who attend seminars) and Entrepreneurs are those who take ACTION.  The 5 items referenced above are items you can do right now and for less than a few hundred dollars (books and REIN membership).

I agree with @Devan Mcclish on the yellow letters. That's the best return on your investment. I've also found a targeted approach to identifying deals is to drive around your farm area (where you want to invest) and look for properties that are distressed (empty, signs in the yard, tall grass, broken windows, no cars in drive, papers on door, etc.).  Become intimately familiar with your area and you will be able to spot a deal that much easier.