Taking Real Estate Course - Posted by Ray

Real Estate Investing Real Estate Gurus
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Posted by Scott (AK) on February 21, 2000 at 10:08:48:

John,

I noticed in your post you mentioned your need for “business education”. Like you, many of us have before, or still do, punch timeclocks. Never having to deal with the overall business end of things.

What are some of the things you are doing to gain your business education. I ask because my belief is, in order to be really successful, it may be best to do this as a business. Not some hobby. Oh yeah, the hobbiest will make money and do okay but I’ve watched you and you don’t seem very inclined to settle for “OKAY”. I know I am not.

I’ve been working on business plans and things of that sort. Mostly self education, sometimes seeming the HARD way to go. But, I think it’s important to understand that when you are starting from scratch you won’t have an MBA tommorrow.

Sorry to ramble John, just wanted to ask what others are doing to gain education on running a business.

Scott (AK)

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Taking Real Estate Course - Posted by Ray

Posted by Ray on February 20, 2000 at 18:08:52:

Hi everyone!

I was hoping to get some suggestions from the more experienced members of this board.

I am very much interested in learning more about REI and RE in general. Exposure to this board has got me interested and very excited.

My only background in RE is being a homeowner.

Although I saw the numerous good RE Investing course selections for Sale in this board,I am considering taking one of those Real Estate Salesperson Licensing course given in our community college first, in order to give me a thorough basic understanding of Real Estate terminology, laws, etc. in my state; for people who want to take the test & be brokers someday.

Then, follow-it up with choosing a specialize REI course offered in this board ( whether LeGrand’s, Kaiser’s, etc.)

I just think that taking an RE broker course will help me find the right specialization in REI that I would like before spending money on the courses here. Choosing between L/O, Foreclosure, mobile homes,Flipping, Tax certificates, etc. is kind of tough to decide since I am not familiar with RE in general.

Although I have no plans to be an RE Salesperson, I think the course will help me be more comfortable,confident, and will lessen my learning curve in an Inveting course were I will spend probably at least $500.
Any comments or advice would surely help.
Thanks in advance.
Ray

P.S. If I eventually buy the 3 part Ron LeGrand course, have you found it to be sufficient to start making deals or do I still have to attend those EXPENSIVE seminars?

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Re: Taking Real Estate Course - Posted by Bert G

Posted by Bert G on February 21, 2000 at 10:41:21:

If you like, take the class for the education, but DON’T TAKE THE TEST. you might pass, then you’re stuck with a licence and will have to disclose you’re a professional whether you are or not.

OR, you could get just as good a basic RE education from the book “Modern Real Estate Practice”, available from Amazon for about $35. The college here uses that as the textbook.

BG

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Re: Taking Real Estate Course - Posted by Steve-Atl

Posted by Steve-Atl on February 21, 2000 at 09:40:05:

Ray:

I too, would skip the licensing. I am not a realtor, but have dealt with many. They are trained to think inside the box,…exactly the opposite of what you need to do as a REI.

You are much better off pursing your education on this site and listening to guru’s such as LeGrand, Kaiser, etc. I did buy LeGrands 3 part course and found it sufficient to start making deals.

Good luck!

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Re: Taking Real Estate Course - Posted by Rick W.

Posted by Rick W. on February 21, 2000 at 06:17:25:

Ray:

As a licensed Real Estate Broker in Florida for over 12 years, I can honestly tell you that if you are primarily interested in RE Investing - skip the licensing part of the business. I gave up my license a year ago, and have never looked back.

The only redeeming value the license gives to an investor is the ability to utilize the MLS. You can find numerous Realtors to do that for you. The training you receive is concentrated on : How to fill out a contract; Your fiduciary relationship with the customer; Real Estate Law pertaining to escrow accounts, binder deposits, etc.; and other issues that won’t help you one twit toward your goal of becoming a successful INVESTOR. That’s not to mention the floor duty, caravans, office meetings you subject yourself to once you become licensed.

Spend the same amount of time/money on learning the Investing part of the business, and you’ll end up making the money an Investor can make, not just what the typical agent makes.

I am biased about the value of Bootcamps and other advanced training (I teach for Ron LeGrand at his), but I know the results our students have are TREMENDOUS. It accelerates your learning curve and gets you out there making deals in days instead of weeks or months.

Good luck in your endeavors and with your decision. Contact me if I can help.

Rick W.

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Re: Taking Real Estate Course - Posted by AnnS

Posted by AnnS on February 20, 2000 at 22:22:53:

Before you spend several hundred dollars on a course check out a book store for ARCO’s “Real Estate Licensing Supercourse.” If you can study by yourself this will give you a good background. Just like going to school–it even has tests!

Good Luck–AnnS

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Re: Taking Real Estate Course - Posted by Laure

Posted by Laure on February 20, 2000 at 21:57:30:

I have taken the real estate course at our local college, passed the test…etc. I wouldn’t do it again. The biggest thing I learned is how to read a legal description. I was going to use it to save money on commissions, but let my license lapse. I felt I had to disclose, and disclose, and disclose as a realtor, but as Joe investor, my hands aren’t as tied by laws and the government. Just my thoughts.

I personally would start with info right here from this site. I have never purchased anything here that wasn’t incredible !

My favorite is Bill Bronchick. I use and refer to his literature absolutely ALL THE TIME.

Good luck, and stick around here. You’ll learn a lot.

Laure :slight_smile:

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Re: Taking Real Estate Course - Posted by JohnB_NJ

Posted by JohnB_NJ on February 20, 2000 at 19:48:09:

Ray,

I did exactly what you did. I had the standard Carleton Sheets course to start off with. Then I took the state RE Saleperson course. I then purchased several courses at last years CREOnline Convention. I spent this past year reading the courses and doing deals. I learn quite a bit from actually doing deals. There are just so many times one can read the same course. Heck, I am even going to sell some of my courses on EBay just to make room on my shelf for more advanced courses.
I would spend the money for a boot camp if I thought I needed “hand holding”. But I don’t think I would spend my cash for a “boot camp”. I would spend some profits instead. To be honest, I need business skills. I’ve got the RE knowledge but my business skills need some strenghtening. I used to “punch a time clock” so I never had to worry about actually running a business.
Anyway, I didn’t mean to ramble on. Are you attending the CREOnline Convention next week? You can get some great knowledge there, do some serious networking and pick up some courses at a discount.
But if again,if your budget is tight, check EBay every now and then you will see a Joe Kaiser, Bill Bronchick or Ron LeGrand course available for sale.
Take care and good investing!!

-John

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Re: Taking Real Estate Course - Posted by CHERYL

Posted by CHERYL on February 21, 2000 at 21:11:40:

Hello, I too was licensed, but now I want do something else with that knowledge. I have the C.S program and I am looking for other materials. Could you suggest any material so I could start sooner, I would like to have done a few deals (L/O) by August.

I thank you in advance for all of your help!