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Updated about 4 years ago on . Most recent reply
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I want to start investing in Real estate. How do I start?
I am looking to be my own boss and start in investing in real estate etc. I figured I would keep my 9 to 5 until I could get it started. My questions are how do I start, I was thinking of getting my real estate license is that a good start? Also my credit terrible. I need some real guidance / mentors.
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- Realtor, General Contractor, and Developer
- Redding, CA & Bend OR
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There's hundreds of threads on here asking that question and getting a multitude of answers. The truth is, everyone is different and has different circumstances. You'll want to start getting your credit straightened out first. As to a real estate license, unless you want to sell real estate to others, or your state requires it on your own deals, it's not necessary. A Real estate principles class, business law, finance, etc. can all help build a foundation so that you understand contracts, money, etc.
Where do you start? You LEARN the business. Learn about financing. Get to KNOW your local market. Check out ads, go to open houses, so that you understand values. Learn to compare homes, size of house, age, lot size, finishes, neighborhoods, etc. Why are homes priced how they are? Are there a lot of homes on the market or a tight market for sales? What about rentals? Are there a lot of rentals or few with high prices? It all impacts the market. See if there's a meetup in your area for real estate investors. Educate yoursel, get into Networking with others. Listen.
- Karen Margrave