I always look at the different types of real estate courses that are offered in the market. I noticed one that claimed to teach you everything over a weekends retreat. That is just 3 days to learn how to do basically do everything......
I've done over 500+ homes for myself and investors, so I think I can speak as an expert on this matter. Their are so many facets in this business that have everything to do with if your going to make money in real estate in this market.
I'm going to give you a few examples that I've run into. I had an inspector in one of the cities that we rehab homes, that did not like investors. In fact he informed me it would be a very rough inspection. He wasn't kidding either..... We did get the home done on budget and time. The most important thing in this matter was we knew the city building codes and that was very important in this case. We dealt with the inspector in a very professional matter, but let him understand we know the codes. If we didn't it may have cost thousands of dollars more.
How much should it cost to ground an electrical panel? Sounds expensive doesn't it? We also had to get a Permit from the city on that. That meant we had to be licenced and bonded with the city. Prices vary, but knowing what it cost will help you not to be taken advantage of.
Another important issue is knowing whet type of property are you looking at. Rental, Flip, Lease option. Land contract property? What are the differences that you need to know to make an informative decision. What type of paperwork is needed to get the rental, Lease option, Land Contract done. Who does that? Who Picks up the your checks if you need that? What are the evictions laws? What are some things to look for in a potential tenant-buyer?
These are just a few things you will need to know to be successful in the real estate business. Seasoned investors know how to handle all aspects of these types of problems and paperwork.
So be very weary of learning everything over a weekend retreat. I'm not saying that is not a great place to start, but be careful. Look at the charges. Getting with the right company that knows what their doing should not cost you an unreasonable amount of money. Remember you can buy your own investment property for what some of these companies charge.
One last thing look at how much is it going to cost you to get a property. Most courses do not offer actually buying a investment property. That is why I set up Rooftopinvestment. We help you buy investment homes that make sense at very reasonable fees. Brett Young Rooftopinvestment.com
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