How Can I better educate myself about real-estate investing?

Treat your real-estate education as you would any other formal education, and surround yourself with the best experts in your area. When we applied to college, we sought out the best and the brightest faculty for our intended professions. Do the same now. Enroll in reputable seminars, as you would college classes, having considered the course’s material, requirements, and intention. Invest in course books and choose subject matter in line with your level of comprehension. Reading an advance finance journal instead of a beginner’s manual is a waste of time if you don’t understand it. You learn as you go.

There is no national real-estate market, so researching national trends or statistics is not necessary. Instead, become an expert in your area of interest. Become intimately acquainted with your target neighborhoods. Contact the local chamber of commerce or town library and ask for the latest demographic census. Who lives in the area? Are there families, college graduates, transients? What is the median income? How are the schools? Are merchants moving in or out of the area? When formulating your business plan and deciding what needs you can fulfill, this information will help you stay focused.

The internet is an excellent resource for learning about the housing prices in your area. The Realtor Multiple Listing Service at www.mls.com provides links to every state in the country, with information about area schools, neighborhood housing sales, and informative articles. Your team Realtor will have additional resources, including the number of days a property has been on the market and the difference between the asking price and the selling price. Partner your enthusiasm and energy with a Realtor’s professional insight and you can further increase your knowledge base.

Most cities have real estate investing clubs, organized professionals who meet to share strategies, ideas and experiences. A good place to start is the National Real Estate Investors Association at http://www.national reia.com. Often groups will invite you to attend one meeting without charge, giving you the chance to get a feel for the club’s dynamic. Are you interested in an organization that emphasizes rehabbing homes, landlord strategies, or multiunit properties? Do you want a group facilitated by a long-time, take charge veteran, or do you prefer a lighter exchange among all experience levels? Connecting with a group you feel comfortable with is much better than choosing a club in which you feel intimidated. Take your time deciding which organization best suits your needs, then commit yourself in networking with your area’s professionals. Approaching your real-estate career as a student looking to achieve a valuable education is an excellent tactic and one that will help you achieve success.