Posted by Jack E on February 21, 2007 at 18:09:21:
Sheets course is a good beginner’s course. But it is not perfect and may not be for everybody. Looking back a fairly long ways, if I were to start in today’s investing climate, I would recommend reading everything on this outstanding site at least twice to get a feel of all the possibilities out there, which are many and immediately join a not for profit Real Estate Investor’s Association (REIA), not one FOR profit like Wealthbilders whose object is to sell you something for their own benefit. Make sure it is a not for profit REIA! You can learn more there from one on one interaction than any where I know.
What I would learn from both of these would help me understand the Sheets course or any other course or book and determine where I would really like to start and then concentrate there. Don’t get missled by the TV Gurus and those with astronomical course prices and for that matter the so called relators with all the great deals for you. You DON’T need them. They only need your money, which would be much better spent purchasing property.
Whether it be wholesale flipping, rehab and retail flipping or buy and hold, it does not make a whole lot of difference although the amount of cash you have to work with msy influence it a lot. The most important thing is to use the knowledge you have gained and GO OUT AND DO IT! Don’t get the so called “paralysis of analysis”. I have atually met people at seminars and conferences who say they have been going to these and reading for five years, but have not done their first deal! Most Gurus who are honest, which may oxymoron, will tell you over 90% of people who take their courses never buy even one piece of property How sad and in fact idiotic!
Start easy and get a few smaller deals where your risk is acceptable. Don’t jump into million dollar properties until you gain your confidence and maybe not then. Then move on to bigger and better ways when you gain your confidence, Never forget what you have learned and just repeat the ones that are successful and stay away from the ones which were not.
Don’t give up if things don’t go your way immediately. Regroup and figure out what you have learned and don’t make the same mistake twice. If you do all of this, you should be successful and THATS THE TRUTH! If you disagree or have something to add, please do so.
Posted by Bill King on February 11, 2007 at 18:28:29:
To whom it may concern,
I purchased the no down payment course 5 years ago at a bad time and through it in the closet and forgot about it.Now I am really interested in real estate investing.I am not happy in my job but am unsure how to get started.Is studying that course the right start?Any suggestions?
I would be happy to here from some experience.
Thanks Bill
Posted by Frederick on February 12, 2007 at 05:57:40:
Bill, for what it’s worth, I suggest you look into options and lease options as a way of starting out in real estate. They are relatively risk free, and easy enough to understand and learn. Good luck.
I purchased the course back in '97 and I think it’s a great course for the beginner. I still look back through it from time to time. In fact, I am currently listening to the CDs again and I am still picking up tidbits of info that I didn’t let sink in before. Use this course to give yourself a solid understanding of the business and then continue to read other items that are recommended by people you respect. This site is GREAT, so read all that you can.
I think that Lonnie Scruggs’ material is the best for mobile home investing, Bill Bronchick’s books are great for flipers and Ray Alcorn’s material are super for commercial investing. There are others out there that are top-notch from what I hear.
Posted by chuck strum on February 11, 2007 at 18:49:14:
Join a reputable real estate investing club that will conduct proper due diligence and present quality investments to you.And by all means do not think real estate is “get rich quick”.It takes patience and experience.And time.
Posted by Bill King on February 11, 2007 at 19:08:21:
Thank you for your response,
I agree it is not a get rich quick sceem.But I do want to learn.I would like to make extra money doing flips to help pay down my curant homes so maybee I wont have to work until I am 70 years old.An earlier retirement with something I can do make things even out I would be happy with.
Hi Yaseen, Carleton Sheets is a man who has made a very good living investing in Real Estate. He now does infomercials on TV, and sells his course to others, so that they can learn the business the way he did. His courses are very expensive, so unless you have several thousand dollars to buy the important part of his course, (not the first one he advertises for $9.95 to start, but the one he sells you after that) you will need to do a lot to research on sites such as this one. It gives a lot of info, but you DO have to work hard. It is not a get rich quick business. Good luck!