Real estate, like almost anything in real life, is something you can be successful at without studying it in school. It’s not like becoming a lawyer or an engineer; your success depends on your own mettle. Knowledge can be gained through experience and expanded through good old-fashioned common sense. Many people have been very successful in real estate investing on their own, without any help or advice. You may be able to do that too. However, one thing that is inevitable if you jump right in: you will make mistakes. Some of these mistakes will be quite costly in terms of time and money. Most likely, many people have already made these mistakes. Wouldn’t you rather learn from other people’s costly mistakes than have to make them yourself?
The first type of knowledge you need to acquire is a working knowledge of the basics of the real estate business. You should be aware of the various approaches to real estate investment strategy and decide which approach and type of real estate investment strategy best suits you, yourself and your resources. For example, if you were to choose to invest by purchasing foreclosed properties, you would need to learn how foreclosure works, learn about real estate law, learn about zoning, learn about the market for the type of properties you want to purchase, and more. .
Much of this can be learned from books, public documents, and the Internet. However, one disadvantage of learning in this way is that it is not very selective. How will you know what you will need and won’t need to know until you truly succeed as a real estate investor? It’s kind of a catch 22: you won’t know something is useless until you learn it and don’t use it. This is one of the advantages of learning through training: you work directly with successful real estate investors who have experience in the local area you want to invest in and the type of investment you want to make. They have already researched what you do and they don’t need to know about it well in advance for you.
Training with real people has many advantages over books, the Internet, or home learning courses. Real human beings can give you feedback on the go.
They can apply their knowledge and experience directly to your own situation, and best of all, they can provide you with objective and expert feedback. If he chooses to go ‘all the way’ with his real estate training and hire a coach or mentor, they can help him in many unique ways. For example, they can help you not only set clear and achievable goals, but they can also keep you honest about working toward them. When you’re working with a real estate coach, there’s no leeway to pass the buck or make excuses. They can also help you plan your business for the future and give you the benefit of their knowledge and experience to work towards your dreams.
