Yesterday I had the privilege of speaking with a 42 year real estate broker. I spoke with him about tax lien certificates and tax deeds and how this is where I thought I would start.
He sat back and smiled and asked me how much capital I had. When I told him I didn't have any capital his smile got bigger and he said that is a very good thing. The competition is stiff and a novice does not stand a chance. He would hate to see me throw my money away. Also he said TLC"s do not hardly exist anymore and you will have a hard time finding them. (I live in California) Tax deeds will go to organizations backed with a butt load of capital. Anything left over, such as over the counter properties are not for novices. If you don't have a contractor and crew and knowledge of what you are doing, it could ruin you financially.
Here is his advice. First and foremost, you need a license. Don't listen to anyone who tells you you don't need one. Not having a license is foolish. How does one go about getting this license when they don't have the money these people advertise courses for on the internet? You go to your local Coldwell Banker and tell them your story. They will take you on and basically you spend the next two years being a sponge. Absorbing all the knowledge you need to be successful. You won't make squat as far as income goes but within two years you will have hands on experience and education you can't beat.
Now you are ready to move on and strike out on your own. Well prepared and ready for battle.
I can't argue with 42 years experience . Some of you can and I am sure there will be differences of opinion. But that just makes for good conversation. Also I don't know if Coldwell Banker is nationwide but I believe so. If not, look for a similar company in your neck of the woods.
