Real Estate Investing: Where to Start

Have you ever thought about investing in real estate but wondered, "Where do I begin?"

I cannot answer for you, but I know that I have. In fact, I may not be sitting very far from your chair right now.

Let me tell you a little about myself. I am 37 years old. I did not even know how to handle money until I was 34, and I had quite a bit of debt to repay. I didn't even have a positive net worth until I was 36. Really!

I've spent the last year-plus investing into the stock market. Unlike most people, I'm proud to say that I've done really well for myself. I am not mentioning this to brag that I am great, but it begs the question, why am I considering real estate then?

There are benefits to learning how to make money in multiple ways, outside of your regular 9 to 5 job or whatever your real hours are. Plus, as an investor, different money making vehicles present themselves as better opportunities at different times. One investment is not necessarily better than another investment type, but the timing is key. There is room to make money on stocks, still, but their best time was during the first few months of the year. Now is the real estate's time, because you can buy properties for so little money.

Real estate is really imposing, though. I'm still a beginner at this. So I will tell you what I am doing.

1. Go to Investor Clubs

Meet as many people as you can. You will hear some hot topics and buzzwords. Plus, it sets you in motion a little closer toward your goal.

2. Read Books/Listen to CD's/Watch Videos

One of these is not better than the other. There are many resources to teach you general and specific concepts. Just choose a method you are likely to use. For instance, if you have reading, don't get books. Watch videos or listen to CD's. You get the idea.

3. Use the Internet

Similar to the above point, but you can compare more things a lot more quickly.

4. Go to Seminars

Some of these may seem expensive, but like investment clubs, you will meet people. In fact, you will get a chance to do a better job meeting people. Plus, you can learn information that is more focused upon what you want since you are selecting the seminar. The biggest benefit, though, is that you can learn more in a shorter time period.

5. Walk Through Houses

Ideally, you can walk through houses with people who know enough to point out good and bad things about the property. Even if you are alone, you can still notice some things. Plus, don't forget to talk to the neighbors if they are available.

6. Study Prices

Pay attention to prices in your area--both List Prices and Sale Prices. Notice the difference between them. Notice which areas have which price ranges.

7. Ask Questions

This is the easiest, most effective way to learn. However, most people will not do this, because they don't want to feel foolish.

So how do you get started? Do something easy to get moving and keep gathering information.