Real estate investing is a great career, and I recommend that everybody become involved in real estate investing in some capacity because of the excellent returns it can provide. There are a lot of ways you can be involved: Lending money, buying and selling properties, owning rentals, and more. The key is to be honest with yourself, especially with regard to how much time you’re able to dedicate to the business and what makes you feel excited and motivated. You also need to have a firm idea of how much money you’re willing and able to invest.
After considering your options, if you decide you want to get involved in real estate investing, there are three paths I consider great ways to get started:
- Above all, I recommend finding a mentor. I learned from experienced, successful real estate professionals including Carl Schiavone (head of the East Coast REA), with whom I trained for almost four years before setting out to complete my first deal. As a direct result of what I’ve learned from him, I’ve completed over 400 sales in the last five years. Mentorship will greatly increase the speed at which you learn the intricacies of real estate investing and help you achieve your goals more quickly. Your mentors are also an excellent resource to turn to when you encounter unexpected obstacles; they can help you navigate your way through whatever problems you run into.
- Don’t rule out going to college to get your real estate investing education. There are universities that have exceptional programs, with highly experienced professors who have a history of success in the industry. Personally, I have a master’s degree from NYU in Real Estate Development. It was a two-year program, and during my time there I met some of the greatest minds in the world of real estate, which hugely accelerated my real estate investing career.
- Finally, don’t be afraid to do things in a more independent fashion build up your knowledge base using the free (or inexpensive) tools which are available to you. Books which you can likely find in your local public library are invaluable sources of information which can help you get a grasp on real estate investing from wholesaling to the management of rental properties. Similarly, there are content creators on YouTube that provide great information on topics ranging from house flipping to marketing and prospecting. You’ll want to do some due diligence and see if there is consensus among these information sources on a given topic to make sure the guidance you take is trustworthy.
These are all excellent ways to learn about real estate investing and set yourself up to take your first steps into an exciting, rewarding career. You may wish to begin with free or inexpensive sources of information, as part of the process of educating yourself is to perform some self-evaluation and be sure that you’re ready to take the leap before you commit serious time and money.