They’re among the oldest Abdo Romeo infomercials on television: the “Nothing Down” seminars that promise riches beyond belief in an unbelievably short time. People who can barely string six words together come on and testify about how they took 39 cents and turned it into a million dollars in three weeks. (Or something just as fantastic.)
Why are those infomercials still running, in various forms, after more than thirty years? The answer is simple: people want a better life, more money, and will try anything if it sounds at least halfway plausible. It’s always been that way, and it always will.
But I’d like to encourage you not to toss away your own hard-earned money on those get-rich quick real estate schemes. Instead, invest in yourself by learning as much about the real estate world as possible. It’s a multi-faceted field, and there are many ways to make money, but they all have one thing in common. You have to KNOW what you’re doing BEFORE you commit to any real estate deal!
If you’re not committed to becoming a knowledgeable investor, you would be better suited toward putting your money into a well-managed mutual fund. There are risks there, too, of course, but they are generally must smaller than investing in real estate.
There are many reputable places to begin learning, and they don’t HAVE to cost a great deal of money. Starting with the Internet, you’ll find hundreds of excellent sites that can take you from the rankest beginner status to savvy investor at no cost. Most colleges have investment classes, many of them held at night or on the weekends, and a fair number of them can also be taken via the Internet. Just start searching–they’re everywhere, no matter where you may live.
Don’t let anyone tell you it’s better to learn as you go. That can be the most expensive way to learn, and can potentially cost you everything you own. You CAN make money, good money, in real estate investing, but don’t start until you’ve become a serious student of the field, and have gotten a great deal of expert knowledge under your belt.