The Value of Continued Education for Real Estate Investors
December 24th, 2012
There are more avenues for real estate investing than you know. In addition to purchasing distressed properties to flip or rent, there are several ways to get into the real estate investment industry. And these avenues are open to beginners and experts in any economic position.
Cash transaction, investing through your retirement account, selling investment real estate (with or without a license), taking over existing mortgage payments from sellers who cannot afford their mortgages, conducting short sales and many more possibilities are available to those who are interested in breaking into this industry.
But where can you learn about real estate investing? Since the Texas economy is so strong, there are real estate investment opportunities everywhere; and along with those many opportunities comes a variety of resources for education.
First and foremost, if you are in the Houston metropolitan area, the Real Estate Investment Club (RICH) of Houston is a great place to start.
The RICH club is a non-profit organization—a group of roughly 1,000 active real estate investors who come together to share ideas, experience, successes and lessons learned. This organization is committed to its members with a single purpose: to assist its members in succeeding in their real estate investment plans by providing continuing education and networking in a positive and mutually supportive environment (according to www.richclub.org).
On the first Saturday of each month, the RICH club hosts a general membership meeting—a conference where a variety of speakers and vendors come together with full and part-time investors to present leading opportunities in the real estate market. It’s a great opportunity to meet other people who are just starting their investment careers as well as seasoned professionals with 25 years experience or more. And it doesn’t end with a once-a-month convention. The RICH club offers a full calendar of workshops and events for continued education and networking. You can find the calendar of events atwww.richclub.com.
So why should you participate in an organization like this? Can’t you simply spot that house on your street that needs work, fix it up and sell it through your local realtor? Sure you can, but our philosophy at Big State Home Buyers is that it’s important to educate yourself first—there are always good deals available, so we encourage our clients to familiarize themselves with the many options for investing before making that first purchase.
Of course the best way to really learn is through experience—education will only take you so far without real life experience. But real estate investing is a step-by-step process that takes time to understand and requires you to have the right, credible contacts who can help you plan a remodel, understand the value of property, advise you on the best insurance options (builder’s risk vs. vacant property insurance, etc.) and other essentials for anyone looking to come into the investment market.
Aside from the RICH club there are many other websites, personal development books and individual real estate firms that can advise you on strategy and help you determine your objectives and exit strategies. However it’s always useful to turn to a non-profit organization like RICH and put your toe in the water with a group who has no other agenda but educating its members.
Check out your local investment club (most major cities have one similar to RICH) and get a taste for your preferred flavor in the real estate market. And then find a reputable organization that can help you locate the right property for your needs.
Big State Home Buyers can assist you in this process. We are an A+ rated member of the Better Business Bureau and have a top reputation for offering discounted properties to our clients in a service-oriented manor. At Big State, we will make sure you have a good plan in place before purchasing one of our properties. Contact us to find good deals, to get referrals for other educational tools or to simply ask a few questions about what real estate investing is all about. You can reach our agents at (713) 263-7466 or by visiting us a www.BigStateHouseDeals.com. We can’t wait to hear from you and to help you start the path to a successful real estate investment career.