Knock It Out of the Park!
Real Estate Investors -Beware that Supposed Real Estate Opportunity...
It is amazing how the winds of change can occur on a dime -and as predicted, the talking heads of the media started to espouse the benefits of real estate investing towards the end of 2011. The real estate investors and speculators have been out in volume not seen since the downdraft of 2007-08. Lets be perfectly clear, I truly believe this is an ideal time to invest in real estate; however, for the first time since 2007 -one can hear me say “I’m seeing dumb-money chasing real estate”.
With that said the crux of my post today is on two bents: Making smart investments in both real estate (itself) and that of a real estate education. Along with unwise real estate purchases (my opinion of coarse), I am seeing the revitalization of Real Estate Educational Seminars and Boot-Camps that cost from 10k, 15k, and on up to an easy $25K. Heck -I bought homes for that price!!!
Do you realize that only 1% (if that) actually take the information taught and apply it with success? Do you think you are that 1%!?!
You haven’t been until this point (after-all your having to pay big-bucks to figure out how to make a living) –SO WHAT HAS CHANGED? If you have not made the change from dreaming and wishing to “Just Doing It” no matter what…. save your money.
And…., if your at a real estate bootcamp where they teach you how to raise your Credit Card Limit to afford this class -THEN YOU BETTER RUN….
I will probably get alot of heat for stating what I did; however, I truly believe it. Even knowing that one-day, I may actually have a coarse and bootcamp available too. There’s a difference -I operate with morals and integrity with a saying. “Leave your Greed & Ego at home when off to work while tucking your Gratitude in your pocket on the way out the door.” Said it in the “go-go days” and still say it today…
The other big real estate investment push is taking “out of state real estate investors” to the extreme. This is were Wholesalers push “ULTRA-CHEAP” Houses (typically with no real prospect other than being a rental) to people whom want cheap and will buy anywhere -whether that means an hour or ten hours away. The big push used to be in run-down metropolitan areas -know I’m seeing the big push in small rural communities. Heck -most property there is cheap in those rural area’s (and most likely will be for a long time). Want to get opinions -visit us at AskTheLandlord.com where there are discussions quite often about buying a house for 10-15k that needs 10K of experienced owner-operator rehab and will be a good cash-flow’er.
Problem is??? You are not experienced in rehabbing where that house exists, do not know experienced reliable and affordable contractors nor have a remote idea of how (or whom is best suited) to manage that property.
OH WAIT…, you say! This Real Estate Guru Wholesaler who proclaims to “making you rich” says ‘I’m going to Lease-to-Own or Owner Finance it to a ready, willing, and able home buyer who’ll pay steadily and never be a problem other then when they call to pay me in full.’ Do you really believe the story of sitting in your underwear in front of your computer making millions (heck just shoot for $50k) buying and selling unseen real-estate? YEAH RIGHT -only one getting rich is the wholesaler and yes -bridges are still for sale. -Let’s revisit this story in 3-5 years and see.
Now -I do not mean to be such a downer -just talking truth. If your chasing dreams -stop it. Join a local real estate investor association, read cheap books, network with active investors, and follow them through transactions. Seek guidance and you’ll have the opportunity to make a real -real estate investment (and it may even be a real estate boot camp too). I am seeing alot of real estate investors have success with all realms of business and investment operations in the World of Real Estate these days. Wholesalers, landlords, rehab-to-retailers, all of these operations are having success.
You can to! It just won’t come easy nor overnight. It will take work and you will have to work it hard.
I’ve personally been involved in quite a few different real estate transactions as of late. From hard money lending, rehab-to-retail, splitting off lots to sell, and I even bought a rental this past week. Is it as easy as the ‘go-go days’ -certainly not; however, what is your definition of easy?
I encourage you to jump in -just be cautious and stay out of the shark infested waters.
