The questions most often asked by new or aspiring real estate investors have to do with beginning real estate investing. If you’ve ever thought you might like to try real estate investing, or even just learn more about it, this article is for you.

With all the resources and information available on the internet and elsewhere, there’s no reason to put off beginning real estate investing. You can start immediately on a part-time basis. There will be plenty of time to decide if you like it well enough to pursue a full-time career.

Although there are many different paths to beginning real estate investing, I’m going to suggest a simple, easy to follow, step-by step plan that has worked for many investors, and made lots of people very wealthy.

It All Starts At The End

As you start down the path to beginning real estate investing, remember to begin with the end in mind. That means you need to have a goal. Spend some time thinking about exactly what you want to accomplish, and what you would like your real estate investing activities to provide for you.

Don’t think only in financial terms. Consider what kind of lifestyle you would like to have, how much time you want to put in, and where and how you want to live. Be specific, and write down your goals. When you can see them clearly in your imagination, you’re well on your way to achieving them. Creating a detailed goal plan is half the fun of beginning real estate investing.

Look For A Herd

Next, find a group of local real estate investors to align yourself with. Most areas have such groups, and they typically meet regularly for the purpose of helping people as they are beginning real estate investing, as well as helping experienced investors. One such group goes by the acronym REIA (Real Estate Investors Association) but there are others.

Once you’ve found a group, start right away to attend their meetings, and make sure you introduce yourself. Make a real effort to meet others who are beginning real estate investing, but also look for and introduce yourself to those who have been investing for a while. You’re looking for two or three who are experienced and willing to share their knowledge and expertise with you.

Once you’ve identified a couple of seasoned investors you get along with, ask them to lunch… not together, but separately. Take them out for a nice lunch and set aside that time to pick their brain about how they invest and what kinds of investing they’re involved in. Ask them what it was like for them when they were beginning real estate investing.

Mentor, Mentor, Who’s Got The Mentor?

If you sense you’re getting along well with one or two of them, ask if they would mind helping you by being sort of an informal mentor to you. Don’t worry if they refuse. Just repeat the process. Don’t give up until you’ve found an experienced mentor to help you with your beginning real estate investing.

The best way to ask is to tell them what’s in it for them. In other words, what are the benefits to them if they mentor you? Tell them you’ll do a lot of the legwork they’re too busy to do. Offer to find deals and run around town for them. If they’re as busy as I think they are, they should jump at your offer.

Tell them you’ll be happy to bring them deals as you’re learning, and watch the smile warm up their face. Every investor likes to have others bring them deals. Just be honest and tell them that you’re willing to work hard in exchange for the knowledge they can share about beginning real estate investing.

Now that you’ve found a mentor, soak up their knowledge like a sponge. In addition to doing what they tell you, make a special effort to learn market values in your area. Choose one or two neighborhoods where you think you would like to invest and study the market. Learn it inside and out. Become the market value expert for those neighborhoods. You’ll be positioning yourself for explosive growth after your internship in beginning real estate investing is over.

Look For Future Team Members

Also, during this time, start building your team. In addition to your mentor, you’ll want to get to know Realtors, bankers, and service people, like contractors. Start now to develop the contacts and relationships that will help you. After all, you won’t be just beginning real estate investing forever… someday soon you’ll be past the beginner stage, and each of these people may become a valuable resource for you.

You’ll soon learn, as you are beginning real estate investing, that it’s the people you know who will help you most in whatever kind of investing you decide to pursue. Don’t put too much emphasis on the strategy and tactics at this early stage. Instead, soak everything up like a sponge, and build your relationships and network. These valuable relationships are just like money in the bank- wait and see!

Read, Read, Read

Finally, study and read everything you can get your hands on. There’s so much information available on the internet, and often it’s free or very low cost. I would suggest avoiding any high priced programs or courses for at least the first couple of months- perhaps even longer. As you are just beginning real estate investing, take some time to figure out which kind of investing you’re interested in. There will be time enough to invest in courses, programs, and boot camps after you’ve gotten your feet a little wet.

Make use of the best the internet has to offer. It’s where you’ll be introduced to ideas and tactics you never would be able to learn about otherwise. Just watch out for information overload. Don’t let the abundance of information keep you from moving forward and taking action.

Follow the steps I’ve outlined above, and soon you’ll be among the ranks of those who call themselves Real Estate Investors. You can find a more detailed guide on beginning real estate investing at my website.

Now, go make more offers!