Real estate investing 101: Are real estate investing gurus your friends or fiends?
As there are so many real estate investing gurus, it is hard to determine whether they are real or if they are just looking to take your money. Before we get into that, let us take a look at what types of real estate gurus there are and what can you learn from them.
What are the types of real estate investing gurus?
The best part about real estate is that it provides a variety of options even when it comes to learning about the business. One of these options is learning from real estate investing gurus. However, real estate gurus come in all different types and forms and that is what we are going to talk about here:
#1. Real estate websites:
Turning to real estate websites is one of the best options that you could go for in your learning experience. There are actually so many websites that offer all kinds of real estate services including online courses. You can find the best real estate blogs that are written by real estate professionals. You can also find all kinds of experiences that investors have shared online.
If you wish to know more about the best real estate websites on real estate investing, check out our blog “The Top Real Estate Websites That Will Make Every Investor Succeed“.
#2. Real estate books:
Real estate books are one of the best resources that you could use as real estate investing gurus. Moreover, real estate books usually are a reflection of successful real estate investors‘ experiences. They tend to share their success stories and, most importantly, the areas where they have failed. However, before deciding to read any books, make sure you read about the author. Get to know the author and their level of success to make sure that when you purchase that book you are actually making a wise investment. To cut it short for you, check out Mashvisor’s list of real estate books that will improve your life as a beginner real estate investor. Our list consists of all the essential books that provide guidance in real estate investing for beginners.
#3. A real estate investment network:
Whether you create your own or you join one, there is no way to go without a real estate investment network in this business. The reason we recommend it is simply the base of connections you get to acquire. Real estate investment networks have all kinds of real estate investors, agents, brokers, bookkeepers, as well as real estate attorneys. Therefore, getting into it will have great benefits for you, especially, if you are looking to get into a real estate partnership. It is a great place to start looking for a business partner with experience and commitment to work.
Related: How to Build and Maintain a Real Estate Investment Network?
#4. A real estate mentor:
Getting a real estate mentor is another way of acquiring real estate knowledge. A mentor could be an experienced real estate investor or even a real estate agent. A real estate mentor is a great source to learn all the practical matters of the business. Therefore, you will be able to obtain experience in no time from the best property gurus.
What do you learn from real estate investing gurus?
Real estate gurus are experts in the field. In fact, they have so many things that you could learn from them. Whether it is facts or even real life experiences, you will always acquire a piece of information that will add value to your real estate knowledge. Here is what you will learn:
- How to invest in real estate: First and foremost, as a beginner real estate investor, you need to know how to start investing. Gurus could be a great source to understand the fundamentals of real estate in order for you to step into the business.
- How to make money in real estate: Well, your goal is making money in real estate. Therefore, following real estate investing gurus will be of great help to understand how you can generate money in real estate. You will be able to learn about the rental income as well as the expenses associated with the business and how to end up with a positive cash flow out of an investment.
- How to buy an investment property: A huge part of real estate investing is buying investment properties. Therefore, connecting with property gurus and learning from them is the best thing that you could do to learn this. In addition to the process of buying investment properties, you will learn all about the best places to invest in real estate. Moreover, you will understand better the factors that make for the best investments in real estate.
Related: How Do You Buy the Best Investment Properties With the Use of a Rental Property Calculator?
Are real estate investing gurus friends or fiends?
In many cases, beginner real estate investors have fallen into the traps of frauds. Many argue that real estate investing gurus are only aiming for your money. They get you excited by telling you all the right things you want to hear in order to take your money. However, you can never guarantee a source unless you make sure that it is official. In other words, when looking for real estate gurus, make sure you run a background check on them. This includes checking their own profile as well as asking people around. For example, as we have said before if you decide to read books on real estate investing, read about the author first.
Another piece of advice we have when it comes to real estate investing gurus: do not get fooled by the titles. In other words, many gurus use titles only to attract clients. It could be anything from promising you to make millions in a year all the way to buying an investment property without money at all (which we know does not make sense at all!).
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