Should I hoof it, or wait it out?

[investinAK]

Ok got a question for y'all! I have been getting the impression that maybe I should not be a real estate investor until I have attended a largely expensive course or bootcamp. I agree with the importance of training, but disagree with putting my investing career on hold until this training is obtained. I am wanting all of your opinions, should I hoof it out and make deals that may or may not be what I would do AFTER training, or should I hang it up for awhile and take a second job and spend thousands of dollars on training and THEN decide to invest in real estate? Now keep in mind, no matter what anyone says I will opt to HOOF it out! My stepdad is a millionaire real estate investor, and he didn't get there by waiting until he had proper training-he is a land surveyor by trade. I believe I have the guts and determination and probably more knowledge than a LOT of investors out there and believe that I can be successful BEFORE training. On the other hand, as soon as I have a few deals made I will by all means employ the services of one more experienced than myself, and get proper training so that I become more successful than even I could imagine! I am very seriously considering John Micheal's Mentoring program, as soon as I have a few deals under my belt and can afford it. Please give me your input, as to what YOU would do! thanks

[Aldo]

Like many others, I started out barely knowing how to spell the word 'mortgage' which puts a you far ahead of my starting point. I started long before Al Gore invented the internet and knew virtually no-one with any knowledge of R.E. investment. My area didn't even have a landlords' association to join. That was almost 29 years ago and I'm provably a highly regarded national mentor. This is not to boast, but to show what someone can do if they are serious, work hard, and love what they do.

Continuing education is absolutely essential. I attend conventions, etc. at every opportunity, but I'd don't do the boot camp thing. I'm convinced that I learn more at the multiple free or inexpensive seminars and conventions that I attend than I would at any boot camp available today. I have never, not once, attended a 'session' at which I didn't learn something of value.

Okay, like most, you probably hate long, boring posts, so I'll get off of my soapbox with the suggestion that go jump in when you feel your are ready and never, ever stop learning.

[investinAK]

Thanks Aldo, that is the kind of response I hoped I would get! I am a person who can put my mind towards anything and make it happen (I moved to Oregon, from Alaska, the day I turned 18 with about $100 to my name). I, like you, believe that there is too much information out there to EVER know everything, and LOVE to learn, and I look forward to attending MANY bootcamps, seminars, taking courses, reading books, etc....I even seem to find more information each time I pick up one of my books I have read zillions of times!

[REIaddicted]

ryan,

If you can't afford a course right now, then finance one from your first deal. I wouldn't do a short sale until I had taken a course as it is a more complicated deal. ( IMHO)
but certainly you can place a house under contract and then get a buyer, do a double closing so you are not out the $. experience is a great teacher, but education is very important, as you have stated.

Would your step dad agree to let you work with him so you could learn more? Perhaps he would be willing to finance a deal for you. Just my 2 cents

Lisa

[investinAK]

Hey Lisa, thanks for your input! :) That is exactly what I plan to do, is finance one with my first deal(s)! :) I definitely won't be taking on any short sales at the moment...eventually though! It is possible to have him help finance some deals, but according to my mom he is kind of cash strapped at the moment with an investment in more land for another subdivision. Also, my stepdad is the kind of person who will just wait around, and won't take action. I am still buttering up to him though! :) thanks again! What courses do people recommend? Which teachers?

[Dan Auito]

Hey Ryan, I would have to be crazy not to recommend John Michael here as he has already proven that you can reach him every single day. I'll back this up with this! If you use John and aren't happy with what he teaches you for the price, then I will refund the price you paid for his course. Now don't go spending five grand because I may have to reconsider that offer, but within reason I've got you covered!

See if pops will just be a partner and co-sign while you cover the real costs! Remember when you find exceptional deals and can design a sound plan to capitalize on them, the money often will find you!

Maybe even on this board? You find a screamin deal and somebody here just may be interested in getting in on that action?

[investinAK]

Thanks Dan! I have already thought it over and discussed it with my wife, that with the first $20k-$30k that I make (hopefully soon) I will invest in more education through John Micheal! I have been reading up on his mentorship program and think that it would be absolutely WONDERFUL for me, as I prefer to have a teacher there, as opposed to just a book to read from! Also, it would be tax-deductible right? :) If I find a screamin' deal I will definitely post it on this board and see what happens from there! I am hoping to find some deals that will total under $100k costs with rehab, as my stepdad has a $100k HELOC at the local credit union, that he says he can pull money from whenever he needs it! What a perfect use for that money right!?

[investinAK]

Dan, I almost forgot...I also got two emails today from investors in Anchorage who want to buy some rehabs!