Evaluating Real Estate Tools: What Does Your Business Need?
Education may be the most important tool we all have in achieving more of what we desire. There is no question that education and training can make all the difference in the success and failure of a real estate investor. However, with so many options and paths to take, aspiring property investors ought to take a moment to consider whether they are taking the right one for their individual goals.
Let’s take a look at a few of the real estate education choices investors have:
Online Real Estate Forums
The internet serves up endless information. Much of it is free. There is probably enough to spend several lifetimes sifting through without ever getting through a comprehensive map of the real estate investment process. Free is great. Data on demand in the palm of your hand is convenient. However, many hopeful investors have allowed themselves to be pulled into using some of this as their only source of information. Specifically, some have turned to online real estate forums as their only main source of real estate investing training and education. This can mean very fragmented learning, with little evidence to back up ‘advice,’ and even some very terrible amateur information. While some of this may be extremely valuable, without a proven system, an end-to-end program, or a reputable source, new investors can find they are continually stalling and making seriously expensive mistakes.
Real Estate Licensing Courses
Licensing courses, which prepare individuals for the state real estate sales person license exam, can be very organized and compact. They can also deliver volumes of important legal information, which can have great value in staying out of trouble in the course of business. At the same time, these courses traditionally haven’t delivered much practical information or training about how to actually buy and sell real estate. These courses may be a necessary pre-requisite for becoming a Realtor, but not a real estate investor. In fact, while there is no harm in taking the course, becoming licensed and signing on as an actual Realtor has been seen as limiting by some.
For those that do choose to become Realtors and embrace its benefits in investing, there are many more training courses served up on a seemingly endless buffet. Many can be great knowledge and skill building courses. Some will help investors stand out by specializing in certain niches. However, those that fall into the trap of never ending learning without any action, or who are simply chasing yet another set of letters to put after their names on, can find it becomes an excuse to never get started. Make sure to find balance between ongoing education and self-improvement, along with actually investing.
Old books in general can be packed with timeless wisdom. In fact, some of the most crucial investment advice is repeated by respected billionaire investors. However, while many principles may never grow old, out of date strategies and tactics could be seriously perilous when it comes to investing in real estate. This isn’t necessarily about markets or marketing changing, it is about regulations and laws. What was legal 10 or 20 years ago may now land investors in jail for decades, even if they didn’t know they were breaking the law. Is that a risk you really want to take?
Real Estate College Degrees
Before you starting freaking out; we agree that almost all education is valuable. Despite the fact that student loans may not always pay for themselves and that many billionaires have been made without college degrees, there are advantages of going to college. You can very easily build a network, learn, and get a degree. However, that is a completely different argument than going back to college specifically to gain a real estate related degree before actively investing. Can you really afford to wait four years to start investing? How about starting investing now and using some of your profits to invest in further education?
In summary; while all of the above have value, they may not be the speediest, highest ROI, or most efficient for those that just want to get going in real estate. For these individuals, consider an organized, up to date, reputable real estate investment education course and system that can be rapidly digested.