Rich Dad Education – Real Estate Blog

Dedicated to Elevating the Financial Well-Being of People from All Walks of Life

Real Estate Success: The Basics

Rich Dad Education holds elite trainings covering numerous real estate strategies and investment areas. Trainings incorporate topics such as commercial real estate, international and domestic land development, and mobile home parks, to name just a few. Students learn strategies that help them profit from foreclosures, lease options, tax liens, managing properties, and probate. Upon leaving these elite trainings, Rich Dad Education students are equipped with the knowledge and power to succeed in their real estate investing career.

With so many topics to choose from, many Rich Dad Education students take multiple elite trainings in order to become well versed in numerous real estate investing strategies. There is good reason for this too. By developing expertise in numerous real estate investing strategies, a real estate investor is better equipped to take advantage of real estate deals that are presented as well as current market conditions. One day a real estate investor might stumble across a deal that allows them to put their knowledge of rehabbing to use. Another day, a lease option might be the perfect strategy that works for both parties. Yet another day, the real estate investor might find an investment where they can take advantage of their wholesaling knowledge.

Real Estate Investing

A real estate investor with a myriad of knowledge at their disposal can truly succeed in any market condition. However, a new real estate investor does not develop this level of expertise overnight. Unfortunately, some new real estate investors, in their desire to become master real estate investors, never truly develop expertise in any one topic. They have a cursory knowledge of numerous topics but not a full understanding of any.

Factors Involved in Student Success – Taking One Step at a Time

This Rich Dad Education investing series is examining some of the factors involved in determining why some students obtain success at the highest levels and others do not. One does not become a master investor overnight. For new real estate investors, there is a learning process that must be undertaken in order to get from point A to point B. For some students, there is such a strong desire to get from point A to point B that in their exuberance, they never truly become adept, let alone master any of the strategies. More importantly, sometimes they never even take the time to truly understand the basics of real estate investing.

As you start out as a new real estate investor, you need to take the time to first learn the basics. By obtaining a proper training you can start applying this foundational knowledge as you make offers on properties. This is the beautiful thing about real estate investing, it is not simply an academic exercise! You do not need to have a perfect knowledge of all real estate investing strategies to make a profit on your first deal. You should however, have a solid understanding of the basics of real estate investing to help maximize your chances of success on that first deal.

After you learn the basics, you should decide what area(s) of real estate investing you want to focus on. Once you have developed expertise in your chosen investment area, then you can move on to the next investment area. During this process you are simply taking it one step at a time and reinforcing what you are learning by applying that knowledge in real world real estate investing scenarios.  To recap:

  1. First, take the time to learn the basics of real estate investing
  2. Next, start applying these basics in real world real estate investing
  3. Then, focus on a specific real estate technique or strategy you would like to master
  4. Next, start incorporating your new technique or strategy in your day-to-day real estate dealings
  5. Finally, keep repeating this process

By just showing a little patience and taking it one step at a time, you greatly increase your chances of success.  You actually can become a Master of all Trades, but it is not going to happen overnight. By systematically attacking each real estate strategy and then gaining invaluable experience by applying it in real world situations, you can develop true expertise.

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12 responses to “Real Estate Success: The Basics

  1. Jalisa Ray November 6, 2013 at 10:00 am

    What other resources would you suggest for someone who wants to start a program for single parents to have safe, sufficient, and affordable/section-8 housing in underprivileged areas like Baltimore and DC by rehabbing abandoned homes? This falls under real estate investing correct? In this situation would obtaining a real estate license make it easier for the investor?

    • Rich Dad Education November 6, 2013 at 11:05 am

      The first thing that you should do is go in and talk to section 8 in your local area and ask them what the criteria for a home is, how they purchase them, and how could you participate in helping them to find more housing. Share your idea with them. Finally, you need to find out if they even have a budget to purchase new properties.

  2. Jalisa Ray November 6, 2013 at 10:01 am

    Btw I am just getting into real estate investing. I haven’t gotten future than this idea.

  3. Mohammed November 13, 2013 at 6:11 am

    Need to read more from you.

  4. monty241070 November 18, 2013 at 9:40 am

    In my opinion, the 5 steps listed take some time for each person to complete; the gray matter has to ripen. Going too fast through the steps can bring misfortune.
    What is your opinion of what a realistic duration is to go through all five steps for the first and second time?

    • Rich Dad Education November 18, 2013 at 1:37 pm

      Every person will go at a different speed. The key to being successful is to implement. Some people can do a deal their first week in the business while other people take a few months. There are so many factors. The length of time is not as important as being persistent. This is a great business. Take the time to learn what you need to implement, but make sure that you do actually implement what you have learned.

  5. dev November 21, 2013 at 1:19 am

    can i from india take your course in real estate and apply it in this country where the rules, policies r different

  6. azeez Obafemi June 2, 2014 at 7:22 pm

    I have been investing in real estate on cash flow level with personal cash.but as much as I wld like to use leverage learnt like OPM to speed things up. I get turn down by bank on d ground of track record or better still high intrest rate
    how can I go about achieving this?

    • Rich Dad Education June 12, 2014 at 9:38 am

      The best way to invest in real estate is with partners or private lenders. Partners can provide the money while you provide all of the time, effort, and knowledge. Start reaching out to the people that you know to see if anyone is interested in getting a better return on their money. Private lenders are more interested in the property than they are in you. You can even ask the sellers to finance their property for you. You can find private lenders at local REIA meetings and through networking.

  7. chanaka March 4, 2015 at 5:47 am

    I’m from Sri lanka. Here we can get commercial loans upto max. 10 yrs. then difficult to make +ve cash flow with property prices. what is your opining regarding this situation. How can I make +ve cash flow with bank loans?

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