We’ve all seen advertisements about real estate “gurus” and “seminars” that promise to teach us a system to make thousands of dollars investing in real estate, often without spending any of our own money. The seminar is free, until we attend and finally learn the catch – nothing in life is really free.
Do you really need to pay someone to learn how to investing in real estate?
With the amount of free real estate investing resources available today, there’s absolutely no reason to pay someone to teach you how to invest in real estate.
So, here are our suggestions on the most effective free methods of learning how to invest in real estate.
#1 Find a Mentor
The importance of working with a real estate investment mentor cannot be stressed enough. While a classroom education is great, it’s even better to have a teacher who is successfully engaged in real estate investing.
A good mentor will not only be a great source of education, but also push you to think about your ideas in a whole different way. Your mentor will also suggest areas where you can improve as a real estate investor, and point out potential mistakes.
To find a real estate investing mentor, join different groups and organizations in the real estate industry. You will meet potential mentors, while also learning a lot from the experienced property investors in the group. Plus, networking with the people in the group will prove to be invaluable as you start buying investment properties.
#2 Become an Intern
Many mentors have interns who learn the real estate investing business by performing various functions, learning how to find, purchase, rehab, lease, and manage investment property.
Bird dogging is one of the popular ways interns get started. This task involves finding investment properties that a real estate investor can purchase. Typically, bird doggers get a set fee, or a percentage of the deal, which allows them to generate an income while also learning how to invest in real estate.
#3 Use Online Sources
There is a wealth on free online resources about real estate investing. Here are some of the best online resources to learn how to invest in real estate.
- eBooks: Though there are eBooks for sale, there are many free eBooks with lots of great information. BiggerPockets is one of the best resources for eBooks.
- Articles: Real estate investing articles, like we share on our website, give you access to detailed information on a variety of topics related to investing in real estate. You can learn how and where to invest in real estate, and learn how to avoid mistakes. If you have a question about real estate investing, someone has probably done the research and written an article about it.
- Podcasts: Podcasts about investing in real estate are gaining in popularity, and make it easy to learn while doing tasks such as driving.
- Videos: Videos about real estate investing have been popular for some time, and now live streamed video is on the rise.
- Technical information: Real estate investors deal with a lot of technical information and terminology. Here is a list of the best websites for real estate investing terms and formulas.
#4 Learn from Experience – Buy Your First Investment Property
At some point, you will be ready to buy your first investment property, and this is when your education will move to the next level.
You will learn more than ever when putting your own money on the line to find, buy, rehab, flip the property, or lease the property to tenants.
Your successes and mistakes will teach you more than reading, listening, watching, or talking to other investors. Until you experience investing in real estate, you cannot truly grow to be an expert in the field.
Related: How to Invest in Real Estate
Graystone Investment Group
Graystone Investment Group is an experienced real estate wholesaler in metro Tampa Bay, teaching clients how to invest in real estate while generating passive income.
Unlike other investment groups, we find properties that we resell to investors at discount prices, while also connecting them with private financing. We also coordinate with rehab and management companies we’ve worked with for years, at no extra charge.