The big question when first starting out is, how to get into investment real estate? Firstly, to invest, it does not matter whether your job profession is within the real estate realm or not. Plenty of people who work outside of the real estate industry learned how to get into investment real estate. For example, Joe, a doctor, has a handful of rental properties and flips a house or two every year. Yes it is advantageous when your career coincides with real estate, but it is not necessary. For example, Real Estate Kate has her real estate license so she is able to list her houses and avoid paying an additional realtor commission during the sale.
There is plenty of literature available to help learn how to invest in real estate for beginners. After reading this article, go to Amazon and use the search bar to find books that relate to real estate investing. If you are unsure of what type of investment strategy you want to tackle, try a few different books to get a general idea of each approach. You can read a paperback before bed or listen to an audio book on your way to work. A wise way to learn how to invest in real estate for beginners is to attend local real estate gatherings. REIA is an organization dedicated to help support and promote local real estate investing. People who attend these meet ups are looking for knowledge and advise, to pitch deals, or simply to network. To find a group meeting in your community, check out the REIA website by clicking HERE.
Mentors are a great way for how to learn how to invest in real estate. Their experience and knowledge are immensely valuable to a beginner investor. They can help you avoid pitfalls and help direct you down the right path. Be sure to screen your mentor first though. Make sure they are worthy of the mentorship. There are plenty of people who talk the talk, but don’t walk the walk. Converse with them on a consistent basis, run your ideas by them, watch what type of investment moves they make. Be patient with how to learn how to invest in real estate. It does not happen overnight or in a “single session”. Continue to read articles, study market trends, look at deals, and meet new people. Networking and connections are tremendous help!
Broadly speaking, knowing how to invest in real estate in usa is comparable regardless of where one may live. Out of state or out of country, an investor will look for the same items. An example of this would be the potential profit or cap rate able to be achieved from a deal. The more exposure you have to investment real estate, the more you will learn and be able to teach other new beginners how to invest in real estate in the usa. You will have “whoops moments” along the way, but these will be learning experiences. Alternatively, you will also have small victories, which can continue to be built upon. When first starting out, read literature, attend local meet ups, and find a mentor.