Education is important, but damn if it isn’t getting a little sleazy feeling in the Real Estate space. My inbox and social media feeds are slammed with “gurus” selling the next get rich quick real estate strategy.
Think it’s time we get back to reality for a minute.
Does Real Estate provide more ways to build wealth than any other investment?
Has real estate built wealth for more people than any other investment?
Does Real Estate gives us a low-risk way to use leverage to our investment advantage?
The answers to these questions are: YES, YES and YES.
Are you going to get rich with Real Estate in one year? – NO!
Real Estate Builds Real Wealth Over Time
What people tend to forget is real estate is the most reliable way to build wealth over time. And time passes alot faster than you think! I wish I’d of started in real estate a decade sooner, but I was too busy trying to become a millionaire in 1 year by day trading stocks.
It’s a great lesson, but not one I can really take advantage of unless I get myself a DeLorian and find Doc with some plutonium.
The sooner you get started the better though. Then the power of principal paydown, cash flow and maybe even some appreciation can go to work.
Time flies, before you know it you look up and think – holy crap I have enough money coming in to retire comfortably before all my friends can.
However, you still need to do it right. This is where some education does help.
Education does make and save you money
With all that said, education still has value and will make (and save) you money in the long run. I say this from experience.
I read several real estate investing books, listened to podcasts and spent a little money on informational products.
What I didn’t do is sign up for a $10,000 “guru” mentorship program from some realty tv celebrity.
I’m sorry, I’m sure they teach you some things, but $10k is down payment money on a property to get hands on experience.
“Experience is the best teacher”
If you read the scaredycat blog or have seen me speak at a real estate investor association (REIA) then you have heard me utter the above quote.
And it holds so true!
I educated myself, but eventually had to pull the trigger and do a deal to get the experience needed to make money in real estate.
Because no matter how many books you read you will always learns something new that is particular to you and your experience.
Know the basics and how not to get owned.
If you are just getting started or maybe have one deal under your belt then you are prime to benefit from some education.
Education should not cost you down payment money, unless that educator is in the business of getting rich off you!
If you need to learn all the basics and what to expect when buying and closing on a how, along with how to get it rent ready, screen tenants and collect rent – then spend $97 dollars (not thousands) and watch the ScaredyCatGuide to Investing in Rental Properties Video Series.
That right there is all the sales pitch you will ever get out of me. I’m here to help people and make just a little something for my time. I’ll buy my Lambo with my rental income, not with your money!
Plus, if you invest in your education now I will carve out some time for a free one on one consulting call where we can discuss your real estate investing questions and roadblocks. (okay, that sounded a bit “salesy’)
Either way – I AM NOT YOUR GURU! Please don’t pay someone else a ton of money to be one.