Favorite home study course for a newb?

[crazychile]

Hello Everyone,

My wife and I really want to get into real estate investing so we have begun the education process by getting info from sites like this, but I really want to buy a course to help us get the ball rolling towards our first deal. We dont have any money or credit so I was thinking about courses that explain how to get around this through finding hard money lenders, or other means.

Ive listened to a bunch of different pitches on home study courses via real estate podcasts, but I really can only buy one ($1K or less) until we get a few deals done. Are there any specific courses that you have had personal experience with that were really thorough?

THe one course that sounds intriging to me is Kris Kirscners Auto pilot system. Have any of you used this or know anythiing about it?

Thanks in advance,
crazychile

[Summit]

Best home study course of all time?

Monopoly! 4 green houses one red hotel you will win everytime. Yet if you like to keep your cash on hand and not mortgage anything to get more property you will go broke paying everyone else. And lose your own property because you have to sell it to pay others. Seriously BUY MONOPOLY!

No on a serious note if I had $1,000 dollars and was getting into Real Estate.

I would buy 500 leads of people that are 60-90 days late on there mortgage. There still 90 days away from going into default. So you are 90 days ahead of all other investors. For that its $200.00

Leaving $800.00

Then I would look at this list and say "There is noway I am going to be able to market to all of these people, 500 is a ton of people what am I going to do with this list?" And I would get creative and sell 400 of my leads for 300 Dollars make a hundred dollars profit.


$900 left now.
From there I would market to the 100 people that I kept and get creative I would probably spend
$300on this part

Leaving me $600.00

This should bring in 20-30 deals that I need to start paperwork onSo i would emai the homeowner the Short Sale Packet this is FREE!

Submit the package to the lenders and get the process going.

Get the property 60-70% below market. Resell the property for 100% of the appraised value carrying 20% note myself so if I did 20 deals at 350 a month I would have an income of $7,000per month off my notes.

OH Number one thing that you need is you really should take the wife out to dinner before you get into the industry. It can be stressful and she deserves it!!!

Just my thoughts I would keep going on ideas yet the forums are bouncing and I can't read what I am typing 

[Summit]

By the way this will cost you $500.00.

If you buy to many books you will end up with a great looking book collection and a empty wallet! And still no deals in the pipeline. I have seen people get on sites like this and ask questions for years. Let me tell you something just jump in grab some deals and go for it. You will see that there are people on here that will answer any question after you have a deal in the pipeline. There are a number of us that enjoy helping and watching others success. I hate to be blunt about this to everyone I am going to say it anyway. I generally don't post on the beginner section because I would rather answer questions on deals that are working. You will notice that most of the Mod's and Others on here are in the other areas most of the time helping people work deals. Trust me don't be affraid get some deals going we will help you close them.

Thats just about the most honest I can be..

[MichaelQuarles]

Monopoly money  thats frigging funny..

Summit does offer good advise if youre not needing help

Happy house hunting

Michael

[crazychile]

Thanks for all the advice so far. The reason I asked about courses is that I really dont know anything. I can "see" what the process is for the most part, but mentally I'm stuck on how to get money from other people to finance the deals. , and I thought ONE course might be a way to learn that and fill in some of the blanks.

I see what youre saying about book/course collections and thats good advice. My wife and I really want to do this and she has lots of time right now due to being laid off a few months ago, so I'm really limited to one course anyway.

So whats the process for buying one of these lists with all the leads?

Thanks,
crazychile

[MichaelQuarles]

Hello Crazychile

Dont buy a list yet.... Should not do that until you know what to do with it....

Happy hunting

Michael

[christopher w]

One Of the moderators on this website (John "Cash" Locke) sells a course on subject 2 investing that I have heard good things about. I believe it is $695 and comes with a lot of support to help you get up and running pretty quickly. Hope this helps.


 

[MichaelQuarles]

I'll second that...

[Summit]

Monopoly money  thats frigging funny..

Summit does offer good advise if youre not needing help

Happy house hunting

Michael

WOW That was nice! I offer good advice if your NOT needing help.. Right on Michael! I will remember that! LOL

[MichaelQuarles]

Summit.... I almost fell over laughing after reading what I wrote from your perspective... Sorry man...  Came across wrong...

[Summit]

I just laughed hard last night. I was thinking WOW I thought we got along.

[AJ290]

With no money and no credit, the reality is your options are limited as to what you can do.  I suggest either options or wholesaling as your two choices for getting started.  And please don't drop $600 or a grand on a course.  If your money is tight, that's the last thing you want to do.
For a look at options and lease options, check out The Naked Investor.
Good luck.

[MichaelQuarles]

AJ290

Just a little disagreement...

Options are great as long as you plan on making all of the money and not assigning the property... Wholesaling which most new investors use to describe assigning makes no sense to me..  Why assign a deal rather then making all of the profit?  I do get, as a trainer, its easier to say let me teach you assigning but as  trainer I should say let me teach you how to buy with no money and credit... Second one is harder most certainly however it also comes with a ton more profit...

Happy house hunting

Michael

[Summit]

I totally agree with Michael on this topic. If you spend an extra 3-5 hours on a deal you will make all the dough! Without money or Credit. It all depends on what you are looking for as a end result. Personally if I were new to the business and starting out fresh I would listen to Michael on this topic

Bottom line is..

Michael does offer good advice if your not needing help! LOL Sorry had to....

I would make time to click on MichaelQuarles link and read over his site I personally have.

[ReCoachDennis]

My first course was a $49 course that had everything in it.

It was by an attorney/ REI named DAve Wisnant.

Great course. Good information that you can really use and I took just one of his ideas and started working the system.

It has a great overview of real estate investing from working with realtors, to selecting neighbgorhoods, to specific strategies that can be used.

From there, find someone that you are comfortable with as a coach/mentor and they'll put you ahead of the game.
Remember, you're learning from someone else's mistakes and successes without having to go through the school of hard knocks.

Dennis