Real Estate Investing Skill Acquisition

Real estate investing is not in any list of high school electives. You can’t get an accredited degree in real estate investing. You won’t find a high school or college guidance counselor who recommends a career in real estate investing (if the guidance counselor understood real estate investing, he or she probably wouldn’t be a guidance counselor!)

The public school system and educational curriculum in the U.S. is only a feeble attempt to prepare students to just “get a job.” Unfortunately there is no class in “Making Money 101.” You don’t have the opportunity to take a class in “How to Become Financially Independent.” No teacher ever taught a class in “How to Succeed When Everyone Else is Failing.” I never learned anything about succeeding as an entrepreneur or becoming wealthy during my 10 years in the university classroom. I only became a multi-millionaire when I learned the skills of real estate investing, and I paid the price out-of-pocket and out-of-the-classroom for that education. I learned these skills in the ole University of Hard Knocks through trial-and-error.

Never disparage the cost of education. There ain’t no free lunch. You’ve gotta get this know-how outside of a classroom, and learning how to make money is gonna cost you. But if you think the cost of education is expensive, you should calculate the cost of ignorance!

However, learning real estate investing doesn’t have to cost you an arm and a leg. Yes, I know, the real estate investing TV infomercials and the real estate investing seminars held around the country charge big bucks for those 3-day seminars and week-long Boot Camps. But that’s pocket change compared to the fees they want to collect from you later. Catch this fact: all the real estate investing infomercials and seminars target you as a candidate for “real estate investing coaching.” That’s where they charge you up to $25,000 and over $50,000 per year for “coaching.” And often you are assigned to some kid “still wet behind the ears” to call you each week or month to hold your hand and whisper in your ear what common sense and a persistent drive should already tell you! I’m not exaggerating the real estate investing educational system, because I know it inside and out. I personally know many of the so-called “gurus.” I’ve been close to it for 25 years. My opinion is that the fees charged are exorbitant because the promoters have found deep pockets in the marketplace.

When I started my real estate investing career 25 years ago, real estate investing TV infomercials were unknown and real estate investing seminars were extremely rare. Back then, Mark Haroldsen followed an emerging trend started by Al Lowry and Nick Nickerson by holding occasional real estate investing seminars across the country. Later Robert Allen expanded the industry. Robert Allen promoted real estate investing conventions in the major cities across the U.S. He found a market for costly real estate investing packages of information with cassette tapes and note books. TV infomercials, expensive seminars, and outlandish coaching fees followed in subsequent years. Would-be real estate investing aspirants today who want more than an inadequate salary from a job in Dullsville often conclude that they have to “pay through the nose” for real estate investing know-how.

However, through diligent searching, these want to-bees often find that this education in real estate investing is more readily obtained from other sources than they previously imagined.

Real estate investing is probably one of the most easily learned skills never taught in school. Real estate investing is probably one of the most prolific careers available on Planet Earth. Because families now live in houses instead of caves, houses available for fix up are everywhere. And probably nothing contributes to upgrading the deplorable housing conditions across America comparable to real estate investing in fix up properties.

The entrepreneur-minded aspirant who discovers the real estate investing industry often catches a vision of life-beyond-a-job. Books and online courses offer an alternative to expensive seminars and coaching.

7 Top Real Estate Investing Jobs

Real Estate investing has long been proven to make tons of
CA$H for the active investor and many of the real estate
investing methods and techniques used to make some of
the biggest (and quickest) CA$H only require a little time
and a bit of knowledge (i.e., NO MONEY and NO CREDIT!) to
rapidly bring home a really big check!

That is the appeal of Real Estate investing courses to most
people ¨C to do deals that require little/no money or credit
yet pay back huge rewards for the time and knowledge you
get from following their systems.

Yet, the “investing” gets a bit lost in most of the world of
“Real Estate Investing” – there is no “investing” other than
a bit of time – there is no ROI (Return On Investment) other
than the time-for-money factor.

That is why I call these activities Real Estate Investing Jobs –
they stop bringing income as soon as you stop working
them.

Real Estate Investing through these jobs, while they make
you CA$H, will never give you financial freedom as they only
generate quick money and not long-term, passive income.

This article will look at some of the more popular methods of
Real Estate Investing jobs.

One of the biggest challenges to overcome is the fact that,
when discussing the money made through Real Estate
Investing, the numbers of dollars are much more than your
common corporate job, and many people simply are not
ready to handle such discussions.

You see, when you were very young, you were
programmed to think that $X was a large amount and often
this amount was only a few hundred, or perhaps, a few
thousand, dollars.

Yet, when discussing Real estate investing deals, there are
often multiple thousands of dollars at stake.

Most people simply are not used to discussing such
numbers, and wind up not making the money they could.
They simply have not learned the language of Real Estate
Investing.

One of the first lessons I teach my students is how to get
past the fear of discussing hundreds of thousands of dollars
and changing the programming you were given as a child to
form open ideas about money and investing to make even
more money.

One quick step you can do to begin this journey is to look
deep inside yourself and ask yourself how you feel about
money. Can you comfortably discuss figures in the hundreds
of thousands of dollars?

Most people learn quite quickly – with just a little bit of
practice.

With that in mind, it is time to look at these Real Estate
Investing Jobs more closely.

These ‘jobs’ bring you various levels of income, depending
on your area, so instead of discussing them in dollar values,
we will look at them from a percentage standpoint.

Of course, with these examples, the amount of work, time
and knowledge you put into it will certainly pay off more (or
less);

1. Property Profiling (birddogging) – this popular way to get
started in real estate investing provides a real estate
investing job with a decent income – something along the
lines of what a factory worker would make in the area.

2. Lease Purchase – this powerful tool can be utilized to buy
and sell property with no money out of your pocket (a Real
Estate Investing sandwich), while keeping a nice pocketful
of money for your time (can you tell this is one of my
favorites?) An active person can make about 1.5 – 3 times
more than the Property Profiler, on average.

3. Subject To – with a bit of training, you can make this
method of real estate investing really pay off big. Once you
know how to negotiate these deals, your real estate
investing income will reach that of corporate executives –
with much less of a time requirement.

4. Foreclosures – while highly lucrative and one of the top
income producing methods of real estate investing, the time
and knowledge required to actively pursue such deals is
becoming more difficult all the time.

The payoff to those that can perform these deals is huge –
about 10 times that of the Property Profilers, however,
finding deals is much more difficult due to the number of
people looking for them.

5. Tax Lien certificates – this is a true form of Real Estate
Investing – actually putting your money into something that
produces a return – one of the safest investments around
with returns that beat any other form of passive investing.
If you have money to invest, this is a great area to get into
with 15%+ return with almost no down side.

This is still a real estate investing ‘job’ as tax lien
certificates are short term, quick turn profit generators, not
sustained over time, plus they take skill and talent to make
the maximum profits.

6. Short Sales – this form of Real Estate Investing is another
job, as your knowledge level and timing are extremely
important. A lot of money can be made with this type of
Real Estate Investing job – as much or more than any other
form – once you know how.

7. Secondary notes/Purchasing Equity positions – a ‘higher
level’ of real estate investing, where more knowledge is
needed to limit the risk, however, the returns on equity
position purchases can be extremely high – from 6%-10%
for fully passive results and ‘sky’s the limit’ for purchasing
equity positions.

Yes, once you get past the internal false programming – the
LIES you have been taught all your life about money, you
can begin a successful career in Real Estate Investing –
through a variety of Real Estate Investing Jobs and then
onto true, full, watch-your-money-grow Real Estate
Investing.

Real Estate Investing – Books,TV Infomercials, and Seminars

Real estate investing has become popularized today because of real estate investing TV infomercials and traveling seminar circuits. But real estate investing has not always been so popular.

In the 1960s, William Nickerson wrote, “How I Turned $1000 into Three Million in Real Estate” and “How to Make a Fortune Today Starting from Scratch.” It was one of the first real estate investing books to get national attention. A little later, Al Lowry authored “How You Can Become Financially Independent by Investing in Real Estate.” Al Lowry might be called “the father of the modern-day real estate seminars,” because he was the first to hold seminars as a result of his book sales.

But it was Mark Haroldsen who carried the real estate investing book/seminar thrust to the next level. Haroldsen wrote, “How to Wake Up the Financial Genius Inside You.” If you were tuned in to real estate investing at that time, you remember the newspaper and magazine advertising showing a picture of suave and bald-headed Mark leaning against the front hood of his Mercedes. The picture appeared everywhere in full page ads of major publications. And as Mark began selling his books, he began holding real estate investing seminars. I have had lunch with Mark and Al Lowry as they swapped stories of the advertising blitzes that vaulted them into national prominence for their real estate investing prowess. Mark later wrote “The Courage To Be Rich” and “Tax Free.”

But it was Robert Allen who capitalized on the previous groundwork by Lowry and Haroldsen. Robert Allen was reportedly paid $1 million advance royalties for his best-selling book, “Nothing Down,” a compilation of 50 techniques for buying property with no money. Robert had learned these techniques from several years experience with a commercial real estate firm. He later wrote “Creating Wealth” and “Getting Started in Real Estate Investing.” The Robert Allen Real Estate Investing Seminars became a phenomenal marketing bonanza. Conventions were held in the major cities across the country, like Orlando, LA, Dallas, Chicago and Atlanta. The authors of various real estate investing techniques spoke at these seminars, but their spiel focused on selling packages of real estate investing materials that they offered for sale. Millions of dollars of real estate investing materials were sold at these 3 day conventions. The convention frenzy ushered in what has since become known as “The Nothing Down Real Estate Movement” of the early to mid-1980s.

I keep all of these books in my personal library, and you can probably still find them in your public library and book stores. There’s a lot of great information in these books that can make you very knowledgeable, even though some of the ideas are out-dated.

We are now presented a variety of ways for making money in real estate investing in TV infomercials, books and seminars. Which is best? Who can say? Real estate investing is learned through trial and error. Real estate investing skills and techniques are acquired by practice. I don’t think anyone can dogmatically recommend a technique best for another person. Every real estate investor has unique needs and is in a unique situation. Objectives of real estate investing differs.

However, if you are limited with real estate investing educational dollars and need to generate quick return on investment, I think fixing up cheap houses is an ideal beginning point. Real estate investing in makeover properties generates quick, profitable dollars with low risk.

Real Estate Investing LIES Unveiled

Let’s get REAL about something – and quelch the LIES you have been told about Real Estate Investing!­

What I am going to reveal to you are some basic
truths about Real Estate investing – truths that may
totally affect the Real Estate investments you have
now – and certainly I intend to modify the way you
do Real Estate investing in the future.

Let’s get right to it – and into the heart of the real
estate investing issue.

You have been programmed all your life to become
what you are today – from school, friends, relatives
and, yes, your parents.

Recent studies show that you are who you are now,
more from what you learned prior to age 8 than in
anything else you have learned since.

Now, that may surprise you, but it is true that what
you learned at the earliest ages affects the way you
make Real Estate investments today, and the type
of Real Estate investing success you will have going
forward!

Yes, that’s a bit shocking.

You see, if you grew up in an environment where
you heard things like

“We can’t afford it”, “Be sure
you have saved enough and have the cash to buy it”
(i.e., never use credit), or numerous other phrases
that you now hear yourself saying (you know what
I’m talking about – those times you catch yourself
“becoming your parents”), it is because of your
early programming (from 0-8 years) and what you
were told about money, success, and life in general.

That is controlling your current income – and your
success – or lack of it…

The things you were told at that early, most
influential age, are now creeping out and affecting
how successful you are in business, in life and yes,
in your Real Estate investing.

THERE IS GOOD NEWS

The greatest thing about this fact – as horrible as it
seems – is that you can change the ‘programming’ –
you have the power to do it!

You can reprogram yourself in any way you want –
have anything you want – do anything you want.

All it takes is simply to ‘reinstall’ the right kind of
thinking.

And, it is easier than you might think!

One of the best ways to do that is to get a CD audio
set from someone you like to listen to – someone
that thinks positively and speaks of the life you want
to live. Many home study courses are available (yes,
including mine) that are designed to inspire and
motivate you, while they teach you the methods and
secrets of real estate investing.

Purchase one – listen to it, over and over – until you
hear yourself speaking that way, too.

You see, we are all simply creatures of habit and
environment – if we allow junk to get into our heads,
all we will ever say is junk coming out.

If all you listen to is the bad stuff in life (like the TV
news, most ‘talk radio’ shows, those TV ‘real life’
shows that end up in fights – you know the ones.,
and even violent movies where the language is
nothing you’d ever expect to hear from your own
lips.), that is exactly what you will wind up sounding
like!

It is true – ‘you are what you eat’ – and that counts
just as much for what you put in your ears as it does
for what you put in your mouth!

If you spend your time around ‘bar people’, you’ll
speak and act like them. Not that there’s anything
wrong with that, as long as you made a conscious
thought that it is what you want, but I think you’d
be much more successful at Real Estate investing if
you were listening to a successful person teaching
you about Real Estate Investing!

Now, let’s get right to the point about the various
methods and concepts you have learned about Real
Estate Investing.

You may call yourself a ‘real estate investing expert’,
but if you have to get up every morning and wonder
where your next check is coming from, you aren’t
making real estate investments, you are being
employed in a Real Estate Investing JOB!

Yes, that’s a hard-hitting statement.

You see, I want you to ‘get real’ with yourself and
simply admit it – Real Estate investing is when you
put money into a Real Estate investment and then
get some money out – ‘real estate investing’
defined.

Yet, it seems that most people I meet want to
attend my real estate training or purchase my real
estate courses that have to do with ‘No Money
Down’ (NMD) real estate investing.

Now, that kind of talk just proves the point – you can
reprogram yourself to speak a different language –
even if it doesn’t make sense!

A bunch of ‘gurus’ have told you over and over again
that ‘No Money Down’ is real estate investing – even
though you learned at an early age that ‘invest’
means to put money into something and get money
out (see http://dictionary.reference.com/search?q=invest for other definitions – none of them say ‘No
Money Down’…)

Now, it’s not that ‘NMD Real Estate investing’ is all
bad – heck, my students and I make several
thousand dollars from these types of ‘Real Estate
investing’ transactions every year, too.

Just don’t lie to yourself and say they are ‘real
estate investments’, we know very clearly that these
are simply ‘earned income’ from one portion of your
real estate investing business – the real estate ‘job’
portion – earned while in transition from your
‘corporate job’ to your ‘real estate investing job’ and
on the road to true Real Estate Investing.

In other real estate investing articles, I cover some
of the methods and techniques you, too, can explore
while moving from your ‘corporate job’ to your ‘real
estate investing job’ and you’ll learn some insider
secrets for taking that leap quickly.