Learning How to Invest In Foreclosure Real Estate

The market today is ripe for investors to "get in' the Hemet Real Estate market, as there are may foreclosure homes that can be obtained for a price that will generate an immediate positive cash flow.

Many wanna-be investors are just unsure about how to go about making the move into the Hemet real estate market as an investor. First off, many of these people are already successful in their own chosen industries and to start off as a novice investor can sometimes make a future investor a little uneasy.

So, many real estate investors interested in the Hemet real estate market will attend seminars, retreats and boot camps in an effort to learn everything they can. Still others will visit the local bookstore and read as many different books as they can on the topic of real estate investing.

Both methods are good - as a matter of fact both methods will basically give you the same information. They will teach the basic theory of real estate investing as well as the mechanics. These are universal truths that do not change. Yes, there are nuances from municipality to municipality - but trust me, neither the books or the Guru's will ever put themselves into your market and claim to know all of the local traditions and policies.

What will set each guru or author apart is their approach to the process.

Each will have some sort of unique tip or trick that they have developed that will separate themselves from the competition. Some of these ‘tricks' are just easy shortcuts and others are borderline devious. Be careful and only use what you are comfortable with.

Different training will focus on different aspects of the foreclosure real estate boom. Some will teach about pre-foreclosure and short sales while others will focus on either the REO (Real Estate Owned) or the auction market and others still will teach about buying notes from either the bank or private parties.

Unlike books, some of the guru's will continue to offer a hand-holding service after the close of the classroom session. This can be by group tele-conference on a scheduled basis or perhaps a number you can call in and ask questions of. Others will assign you a mentor who will stay in touch and follow-up with you on a regular basis. There are some programs out there that will actually teach you to be a "bird dog", where you find the deals and bring them to the guru and his organization and they will finance the properties, paying you a percentage of the profits, once the deal is done. It really depends on what you require and are looking for, to determine which investing seminar is best for you, if you choose this route.

Which is Best?

There are of course pro's and con's to both methods. The decision process will have a lot to do with your available funds and time. You'll also need to follow your own instinct - do you learn best when you have someone telling you what is going on, or do you find this method boring and would rather study the books to learn?

There is an Alternative...

The alternative to becoming a seminar junky or a books and tape fiend is to find a good mentor in your local market. The most under-rated resource is the one that does not cost you a dime in advance. The reason it is under-rated is because there is no huge marketing campaign building up the services of a local mentor. By definition, a mentor is someone who wants to help someone else learn and achieve based on his or her own personal knowledge and skill. A mentor cannot typically be found in a phone book or on a billboard. A mentor will choose you, not you choosing the mentor.

Perhaps the best source of a professional knowledgeable real estate mentor is to find a local REALTOR® who is emerged in the foreclosure business. This individual is motivated to sell you property for a personal profit...or a commission. However, by working with a successful REALTOR® and showing a genuine thirst for knowledge, it is more than likely that the local REALTOR® will open up and share the intimate knowledge of this industry...perhaps you can even get on his list of those he contacts before hw publishes his new listings...and then you know you have scored and have put yourself in the drivers seat of your real estate investing career.

No matter what method of study you choose - if you apply yourself and absorb as much education as you can and consistently apply your knowledge to the market with drive and determination there is no doubt that the small amount of time and or money that you have invested in your real estate investing education will pay off millions of times over the course of your lifetime.

Now Have a Blessed Day,

John Occhi, REALTOR®
Century 21 Crest - CrestREO
CrestREO.Com
Hemet - San Jacinto Valley
951-927-9473

Author of "What You Need to Know...About Foreclosure and How You Can Stop It!" - If you are a Hemet or San Jacinto Homeowner.

This blog and the contents written here is the intellectual property of John Occhi, Hemet California REALTOR®. The views and opinions expressed are just that - views and opinions of John Occhi and those who comment. Please note that I am not an attorney or a tax professional and any time I discuss either topic, I suggest you consult with the proper professional for relevant assistance.

This blog is part of the ActiveRain Real Estate Network, which is a social network highlighting the best of Web 2.0. Information is provided with the intent of educating and assisting home owners, home sellers, home buyers and real estate investors with information the can be used to make better real estate decisions.

I am proud to be a full time REALTOR® with Century 21 Crest and the CrestREO Division who is proud to be a contributing member of the ActiveRain community.