Rehab & Wholesale Property Listings by America's Largest Investor Network

Here it is…straight talk about what it takes to become an actual real estate investor…the kind that actually CAN QUITE THEIR JOB. The kind that actually can MAKE A LIVING at it. A HARD look at GURU Pitchmen and their claims.

 

 

BS! Lets take the emotional ‘You Can Make a Million Next Week’ out of their sales pitch and use some common sense. How are you going to find the hidden gems? Is advertising free nowadays? How are you going to go look at a property? Your bike? Do you really think the next buyer is going to overlook the repair issues that almost every house has that is considered a ‘deal’? Is somebody from your church going to buy it from you after you own it?

 

Let me tell you first hand, signs and post cards cost money. You have to generate leads of potential properties via marketing. Then you will look at 15 houses before you find one ‘deal’. That takes a car and gas. You have to put down earnest money to buy it, even if it is $100. In order to sell it, you have to repair any problems with the house (there is a huge learning curve here). To find a buyer you have to advertise it. You can hire a Realtor which costs you no money upfront, but that can end up costing you 5 or 6% not to mention all of the rehab issues you will have to fix so you can close because the buyer’s agent represents the buyer, not you.

 

You get the point. It’s not realistic to believe you can get into investing with absolutely no money out of your pocket. This is a business just like anything else and it costs money. Most guru pitchmen want you to believe that because they need you to buy their latest book or CD set. Do you ever wonder why somebody with such a great secret sells it all over TV to anybody that will buy it? Don’t most ‘real’ companies do everything in their power to keep their secret from their competitors? Buyer Beware!

 

This is the Learning Curve Effect. Is it possible. Sure. Is it realistic. NO WAY! Listen very carefully on this point. It is going to cost you one way or another to learn how to make money. Consider it a training program or college…except we had real estate in college and learned nothing about how to actually make money in the industry.

 

If you go it alone on your first few deal…we promise you…you are going to make mistakes that cost you money! Know that going into the process. You will buy a house that has a major repair issue you didn’t know about or it will have 3 years of back taxes owed and you purchased via a Quick Claim Deed. You’ll have no idea how to market it and will hold it for 6 months as the interest and tax bill ads up. You’ll over spend on the rehab on areas that will never pay you back.

 

If you partner with somebody, they are going to take a majority of the profit if you are using their money.

 

If you hire a mentor, you are going to pay them to learn what they know.

 

The sooner you realize this fact the faster you will be on track to becoming a ‘real’ investor. By the way, plan on a learning curve of about 12-18 months with a partner or mentor and 3-4 years if you go it alone. That is a realistic view. That doesn’t mean you won’t start making money sooner.

 

We have firsthand knowledge of what goes on behind the curtains. You fill out a form on the internet asking for more info on this ‘brand new strategy’ that nobody else knows about. Next thing you know you are bombarded by a hundred different organizations who are trying to sell you on their program. You know why? They make money selling your name! They swap databases and then resell you something else. It is a huge business. They make their money pitching new investors, not from buying and selling real estate. Again to the college analogy. Did you learn how to do your current job from a book in college? LISTEN UP. YOU ARE NOT GOING TO LEARN HOW TO BECOME A REAL ESTATE INVESTOR BY BUYING A LATE NIGHT INFORMERCIAL CD SET FOR $19.99!

 

 

There are some good ones (harmless plug of course). If you are going the route of hiring a mentor use some common sense again. Is the cost ridiculous considering the amount of time they will spend with you? Do their techniques sound too good to be true? How do they make their money? Do you have somebody’s cell phone number to make sure you have direct access when you need it or are they charging $10,000 for a 3 day power session and giving you their call center’s recorded message line for follow up advice?

 

You get the point. If you are paying $500-$1000 expect to learn what they are doing and that’s it. If you are paying $10,000 you better be a guest at their summer cottage or have somebody’s direct cell phone number at all times. $10,000 buys you 6 months of unlimited access in our book anyway. Make sure your getting it.