What type of degree do I need to pursue to become a real estate investor?
-
I want to become a real estate investor and need to know what kind of schooling I need.
-
Answer:
Since you are self employed you really do not need any at all, you just need capital to invest. It would help a lot if you understood finance though.
tj at Yahoo! Answers Visit the source
Other answers
need; none should have; biz degree, with focus in finance available to guide further, free
kemperk
i don't know of a specific degree for that, i too plan on pursuing real estate investments. I am currently a business finance major with an emphasis in real estate, however i know that what I learn at this university will not be exactly what i'm looking for, it will give me a better background with the markets and how some of the business aspects work, but thats about it. To find information and education on the concepts and principles that are more focused on what you want to do, you will find this in books and special seminars/classes, not in any university or college. My favorite author is Robert Kiyosaki, his financial education is worth more than anything i will learn here in college. My father has seen much success from following the concepts he teaches and i am confident that i will do the same! if you are fairly new to the subject i would start by reading a book called "Rich Dad, Poor Dad" its a real eye opener.
Some of the answers were very good. No degree is required.Read all you can & go to any free seminars that are offered in your area. Some universities offer MBA programs with emphasis on real estate while others have certificate programs.If you are in NYC- check out Baruch & NYU. Also, make sure you have good & reputable professionals on your "team" such as attorneys( who work with investors), accountants, finance people, mortgage people, home inspection person(certified), contractor, appraiser and other successful investors to get guidance and advice should investment opportunities present themselves. Never get emotional about an investment. If the numbers do not make sense- walk away.......there will be other opportunities.
You have gotten some great answers above. I read Rich Dad/Poor Dad and am taking the education from Tigrent who is teaching for the Rich Dad/Poor Dad company. Definitely get in touch with a local real estate investment group ( REIA ). Do an internet search to find your local one. What is nice is that there are many ways to get into real estate. Find the one that fits you the best. I am focusing on Whole sales an Lease options since we don't have any capital to buy property ourselves. AND contact a local real estate attorney to make sure you have all the correct legal documents you need. Find a realtor that understands what you are trying to do, and then talk to local banks to see if they work with investors and what they require. Best of Luck to you!
Heidi
No degree required to learn real estate investment. In fact most people involved in real estate investment barely graduated high school, some haven't graduated high school. As J.Paul Getty said in his biography "The Million Dollar Mind", you don't need to attend college to read a book. All you need to do is get some real estate sales agent books at the book store and read them. Pay attention to the parts that pertain specifically to the laws of your state. There are general procedures that apply in most states, and there are variations of procedures that apply just to your state. Once you read the material, you can test and become an agent and go to work for a Broker, where you will get inside information on good deals, or you can just use the knowlege to make investments on your own.
ranger_co_1_75
There are many avenues that you might take to make a lot of money. The one way I have found to make a lot of money is helping people. The more I helped the more I made. I selected real estate investing as my method of helping people. In helping people the deal must benefit all concerned and not one sided against another. There are several things you need to know when investing in real estate or buying foreclosures, probates and other distressed properties for flipping. Real estate investing can mean a hands on investor, where you actually find and do the work or hire someone to do the work for you. There is also the passive investor. In this you put up the necessary funds for the hands on investor and the both of you share the profits. You , however do none of the actual work. Look in your local telephone book for real estate investment clubs or groups. Find out the requirements to join. Once you are there for awhile you should find a person is doing the most things you are attempting to do in real estate investing. This person might agree to mentor you thus helping you with your investing business giving advise and fielding any questions you might have. First of all you should go to the nearest book store, purchase several books on buying, fixing and flipping foreclosed, short sales and other distressed properties and real estate investing. There are several that you might be interested in. The real estate business change from time to time, so you would need to attend any legitimate real estate seminars that would be in your area or you can attend to keep up with the current trends. Business as usual can easily put you behind the eight ball. You will also want to find out if your state is a non-judicial or judicial foreclosure state. This will assist you in making offers as well time frames in which you have to work within when purchasing a foreclosed property. Once, or, while you are doing this you should buy one of the TV guru's distressed property programs. These programs will give you some legal forms you might use when writing an offer to purchase a property. You will also find several scripts to use in talking to your potential clients. The also give you tips and a formula on how to figure if you have a property that you can make money from before buying. If you are without funds to accomplish this business, you will have to find some investors that will assist you. You will have to make a deal with them about a certain percentage of the profits made from the sale of the property. You will have to advertise in your local newspaper for these type individuals to assist you in buying and flipping. Another method to use when you are without funds to assist you in buying investment property is to get the deal under contract in your name after which you wholesale the deal to another investor and let them do the fix up and repairs. You can collect anywhere between $5,000.00 to $10,000.00. In high cost property states you might even get more for wholesaling properties. Normally this is 50/50 however it could be more or less depending on how your relationship is with the investor. Now to purchase a foreclosed or distressed property depends on what phase the foreclosure is in. #1 Pre-foreclose- the owner is still in the home, he has been notified that he is in foreclosure. Now he has to come current or the foreclosure will continue. You can make an offer to the owner at this point, give him something in his hand to purchase his equity. Now you will also want to see if there is any repairs that need to be done on the property. If there is you need to know the cost of this repair. You will need to know how many months he is behind in his mortgage payments as well as any fees that the lender has incurred in trying to collect the mortgage payment. Now add these together to include what you had to give the homeowner. Also you must include how much you will need to hold the property, I mean making the mortgage, paying the insurance and taxes while you repair the house for sale. Now find out the balance of the mortgage add this to the above figure. Now you need a method of finding out the current value of the property. All this information will tell you if you have a deal or not. #2 The other way to purchase a foreclosure is when the property goes to sale. At this point you must have all cash and you must be able to prove that you have whatever the minimum bid is in cash, cashier’s check or money orders. If you have no proof you will not be allowed to bid. #3 One last way is after the sale. If no one bid and get the property at the foreclosure sale, you may find out what bank owns the property, write an offer as well as a check as a deposit not to be cashed until the offer has been accepted. You might also inform them as to how and when you plan to come up with the remainder of the sales price. I have know some lenders to accept offers this way before the
loanmasterone
Go for a business degree with a direction in finance. No matter what path you take, you can't go wrong with a degree in business.
Cheryl G
You don't need any schooling to be an investor. You just need $$$$. To be an agent: Still none. No formal degree is required. You need to take a state approved course and pass the state test.
Wildcat
Related Q & A:
- How can I become a real estate appraiser?Best solution by Yahoo! Answers
- What do I need to do to become a doctor?Best solution by Yahoo! Answers
- How do I become a real estate paralegal?Best solution by collegemouse.com
- What type of degree do I need?Best solution by whatdegreedoineed.com
- What type of equipment do I need for a recording studio?Best solution by Yahoo! Answers
Just Added Q & A:
- How many active mobile subscribers are there in China?Best solution by Quora
- How to find the right vacation?Best solution by bookit.com
- How To Make Your Own Primer?Best solution by thekrazycouponlady.com
- How do you get the domain & range?Best solution by ChaCha
- How do you open pop up blockers?Best solution by Yahoo! Answers
For every problem there is a solution! Proved by Solucija.
-
Got an issue and looking for advice?
-
Ask Solucija to search every corner of the Web for help.
-
Get workable solutions and helpful tips in a moment.
Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.