How do you prepare for being a real-estate investor?

real-estate investor

I started by attending local REIA (Real Estate Investors Assoc.) meetings. They are free in my area and was able to network and learn from people who have been in the business for years! It got my foor in the door to a lot of opportunites. I would see if there are any in your area. It is a great way to learn and network. Good luck!

I would start with your credit profile. Check my blog for helpful info on managing your credit and getting the max out of the scores.

Put some money together and learn the business inside and out. Read everything you can get your hands on, including information on local price levels, finance/financing, real estate and contract law, risk assessment, renovation/maintenance, operations and operating expenses, zoning, and building systems.

The less you know, the more you should be prepared to pay someone who does know.

I agree with the previous poster. You need to know alot about the business. You should have general knowledge of financing, market values, construction, legalities (contracts, zoning, planning etc.). Once you are familar then you should build up your team of experts in these areas. It is impossible to know learn all these areas over night. You should definetely should be learning as much as you can about these areas before you start. The best way to learn is to be in the business and branch off from there.

If you want you can e-mail me at jamescastle11@yahoo.com and I can tell you about everything. It is to much to put on here. I would rather do it in e-mail or over the phone.