Despite what you may think, real estate investing is not a “get rich fast scheme.” It takes knowledge and experience for you to make a viable income off investment properties.
But that’s not to say that it can’t be done.
In fact, if you take advantage of the resources available to you, you can become a highly successful real estate investor in a short amount of time.
The key is to start by educating yourself.
To help you get started, we’re going to share with you what to look for in a real estate investing course, so you can reach your goals as a real estate investor.
But first, let’s check out why investing in your education first is a good idea.
Why Take a Real Estate Investing Course?
You might be asking yourself why you need to take a real estate investing course to succeed. Especially in Minnesota, where the demand for rental housing is high.
Not to mention, there are plenty of people out there with zero experience that don’t take classes and find success on their own.
Well the truth is, educating yourself puts you ahead of the competition before you’ve even started.
Here’s a quick look at some of the benefits of taking a real estate investing course:
- Understand why investing in real estate is a good financial move
- Learn the skills needed to start investing right away
- Identify mistakes (that others before you have committed) before they happen to you
- Find out the different ways you can invest in real estate, with or without a lot of money
- Develop an individual plan of action that will help you reach your goals
- Gain access to helpful tools that make being an investor easier
- Find out what to look for when investing in property so you get the best deal for your money
- Learn the different ways to approach sellers so you can close more deals and make more money
- Find out what to do after you’ve closed a deal, so you can become a successful landlord
As you can see, there’s a lot that goes into being a successful real estate investor. And while you can learn on the job from your own mistakes, it’s best not to.
If you’re ready to start your journey as a real estate investor, read on to find out what to look for in a real estate investing course.
What to Look for in a Real Estate Investing Course
There’s no shortage of real estate investing courses available in the market. Some are free, and some are thousands of dollars.
Finding the right course can be overwhelming since there are so many to pick from.
Luckily, we have some of the key concepts you should look for in any real estate investing course, regardless of how much you pay for it.
1. Having the Right Mindset
“Whether you think you can, or you think you can’t – you’re right.”
No one knew better than Henry Ford the impact your attitude can have on your overall success.
And what he says is one hundred percent true. If you let people tell you that you’ll never make it in the real estate industry, you’ll prove them right.
Sure, having money, other properties, and great credit might help you break into the real estate industry quicker than others. But that certainly doesn’t guarantee your success.
It’s important when educating yourself about how to be a successful real estate investor that you also learn about having the right mindset.
And it just so happens that our “My First Deal Done in 60 Days” Training Program focuses on how to develop a success mindset from the beginning:
- Learn how to take responsibility for your own life, no matter what other people say
- Create short and long-term goals that you’d like to achieve
- Discover what’s holding you back and how to overcome it
- Find out how to deal with both positive and negative people in all areas of your life
Creating a plan that will lead you to success is the first step in becoming a good real estate investor.
2. Real Estate Investing Basics
If you Google “real estate investing basics” you'll find millions of search results. But that’s not going to do you much good if you want to become a real estate investor anytime this century.
No one has time to read everything about becoming a successful real estate investor.
Plus, if you’re new to real estate investing, how are you to know which sources are credible and which aren’t?
To make things easier on you, and ensure you learn the basics of investing in property, find a course that covers the following:
- Learn what the income outlook is for you in when investing in MN real estate. Also, learn the different ways you can finance your first property. This is especially important if you don’t have a lot of cash on hand or your credit is less than stellar.
- The real estate industry is like its own little world with its own unique language. If you’re going to make it, you’re going to need to know all the terminology so you don’t make a big mistake.
- Property Types. You can invest in a whole host of different property types as a real estate investor. For example, you can buy single-family homes, multi-family homes, condos, apartments, and even commercial properties. Find out which type of investment property best suits your goals before you start looking.
- How to Spot Deals (and Close Them). One reason some real estate investors are so successful is they know how to spot a good deal and convince the seller they want to sell to them. Find a course that discusses finding available properties, estimating repair costs, and knowing how to gauge potential rent rates. Knowing how to do this prevents you from investing in a bad deal.
Of course, there’s more to the basics than this. And your real estate investing course should cover those basics. This just gives you a good idea of what to look for.
3. Lead Generation
You may not realize this, but as a real estate investor you need to know how to source leads if you want to find the best deals.
And unfortunately, a lot of real estate investing courses fail to teach their students this vital skill. Then, when it comes time for you to seek out potential investment deals, you have no idea what to do.
There are several ways to generate leads on a property beyond direct mail, following “For Sale” signs, and checking out newspaper ads.
Your real estate investing course should go into detail about sourcing leads from places such as:
- Current industry professionals
- Magnetic and bandit signs
- Multiple Listing Service (MLS)
- The internet (and how to market yourself)
- Meetup groups, conferences, and conventions
- Mass media
- And more
The course you take should tell you how you nurture any leads that come your way. Plus, it should explain how to approach investment, partnership, or mentoring opportunities.
Becoming a real estate investor is more than just buying a property and leasing it for money. You must learn how to network within the industry and find properties that help you reach your goals.
Only then will you become a successful real estate investor.
Final Thoughts
Getting into the real estate industry as an investor is not that hard to do. The challenge lies in becoming a success and making enough money for it to be worth it.
That said, reaching financial freedom through real estate investing can be done. All you need to do is educate yourself so you know what you're doing.
If you’re thinking about breaking into the MN real estate industry and need an affordable, effective, and proven real estate industry course to get you started, check out our “My First Deal Done in 60 Days” Training Program.
With this online program, you’ll learn how to have the right mindset so you go in with a positive attitude and set yourself up for success. You’ll also learn all the basics behind real estate investing, how to find and nurture leads, and what it takes to finance your first piece of real estate.
So, take control of your life and make a change. Invest in yourself and your future as a real estate investor. And start aiming for the financial freedom so many people tell you is out of reach.
Because you know what? It’s not out of reach.
You can have a fulfilling life as a real estate investor.