Real Estate Education

Learning about Real Estate also requires dispelling the many myths. When you train with a responsible and competent mentor or coach these myths and others will disappear. Here are a few common myths that will help you during your learning curve:

Real estate investing is for the wealthy
This is perhaps the biggest myth out there. There are a wide range of deals to negotiate, from $0 down to thousands of dollars down, which means there are deals all sizes available. What you need to do is research and plan carefully.

Understand that many deals are done by people who work 9-5 jobs everyday. They may not take as great of a risk as someone wealthy, but there are still enough deals to spread around. Success in real estate investing is in your due diligence.

You need experience
You may be envious of the people you see on those infomercials making a fortune in the real estate market, and you probably think it could never happen to you. They must have years of experience. But the truth is that while those people may have been lucky, odds are they’re just savvy investors. If you learn as much as you can about investing in real estate and plan your next move carefully, you could easily join their ranks. Your mentor or coach will also help you with your comfort level on making your first steps.

You need good credit
Good credit helps, but you don’t need it to make money in real estate. There are so many creative ways to invest in real estate without ever looking at your credit. Again, you must learn your options and do your research

One tip though, work on repairing your credit because it allows you even more options and more power when investing in real estate.

There is too much competition
There are more than enough deals to make everyone wealthy. At any given time there are hundreds of properties for sale in your market for each investor looking for them. Be aware, a majority of people who say they are investors are just sitting on the sidelines waiting for the right deal to fall in their lap. Real investors go out and make deals happen.

It will not work in your area
It works in EVERY area. True, it may work differently in some markets than in others, but there are investors making money in every city, every day of the week. You have to learn your market: the rents, the trends, the local customs, the bankers, the title companies, etc.

It is in your best interest to learn the techniques and adapt them for your market.

There are many myths that keep very capable people from venturing in the world of real estate investing. Myths can actually cost you thousands of dollars if you do not know the truth. Get help from an experienced mentor or coach and learn the real truth as you begin your journey to successful real estate investing.

Peter Vekselman has been successfully investing in real estate since 1996. He has completed over 1000 real estate deals, owned a construction company, been a private lender, and owned a property management company. Peter currently works with clients all over the US .

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