Residential Real Estate Training
Learn to invest in residential real estate
If you are considering investing in real estate, you’ve likely done a little digging on the internet to determine if now is a good time to buy. Looking at those online articles from time to time, we’ve noticed that the answer is always “Yes”—and always “No.” The people who say “Yes” tout the idea that the real estate market always rises. The people who say “No” suggest that real estate moves in cycles and that the real estate “boom” is over, leaving the market in a correction that is likely to last for some time.
So which is it?
While it is true that real estate moves in cycles, it is also true that real estate rarely loses value. So, even during the worst of the real estate crash, smart real estate investors were able to find great deals and make a profit. Though some advisers are still suggesting that real estate is “down,” actual numbers show that real estate investments are rising. In fact, the average profit from flipping a house is now $60,000 nationally, with some cities reporting flipping averages over $100,000. With averages like this, the answer appears to be a resounding “YES!”
How do you get started?
You can just get started
Some people jump in feet first, buy a property, and begin renovations, figuring they’ll learn as they go. The problem with this method is that your learning process will often cost you a lot of money as you lose potential. Easily made mistakes that turn a good deal into a losing deal plague new investors who don’t have enough knowledge or experience.
This is a great way to start to understand real estate investing. You can get some great tips from those who have been there and done that. Once you’ve read a book, you can then buy your first property and see how it goes. The problem with this method is that although you will have a good beginner’s understanding, a book can only go so far. You are still likely to encounter things the book never mentioned and find yourself knee-deep in problems that cost you profits.
One on one training
This is the best method for learning how to flip homes because hands-on learning gets you involved in the process with someone who knows what he or she is doing. If you have the chance to learn about home flipping in this manner, you are much more likely to see good returns on your investment.
Why you need a mentor
As a new real estate investor, you may wonder where to start. Should you be looking at neighborhoods? Should you be finding funding? Should you be learning about renovations? The answer is that although you need to start focusing on all of these things, the best way to do that is to surround yourself with the right people who have the answers to your questions.