Victoria Real Estate Agency Home Sale Listings

How To Realistically Get Started As A Real Estate Investor

When it comes to real estate investing, most beginners find themselves with plenty of desire, a little bit of knowledge (from books, seminars, online message boards or something like that) and in most cases they have little or no money to get started with. Does this sound like you? If so you are not alone. Not by a long shot.

If you've spent any time online researching this topic you will have undoubtedly found a countless number of articles, books, CD sets and boot camps out there that all promote some super duper "investing secret or technique" that will teach you everything you need to know to be successful.. even if you have no money or experience in the business. Call me a "kill joy", but in my experience, these types of things are not very realistic.

I'm NOT saying that these super secret secrets can't produce success. I'm saying for most normal and sincerely interested people (like my 65 year old single Mother), the sophisticated & sometimes pushy techniques that are often touted by the "gurus" are simply not a viable option for them.

The good news is that there are realistic and practical ways to get started as a real estate investor regardless of your experience level or the amount of cash you have on hand. In my humble opinion the best option is a process called "Scouting". Scouting is probably one of the most realistic and practical ways to get started available for beginning investors.

What Is Real Estate Investment Scouting

In the medical profession every doctor must complete an internship or residency before they are permitted to become a licensed practicing physician. In some cases that internship can take many years to complete. Now, if you think about real estate investment as a business and not as a "hobby" or a little "side project" a smart question to ask is..."Does an internship for the real estate investment business make as much sense as it does in other fields?" I think the answer is yes, but take some time and think about it for yourself.

I believe that success in this business or any other business requires that you must first learn the basics and develop a firm knowledge of the rules of the game. There are plenty of methods you could use to learn the basics but I believe that the best way to acquire these much-needed essentials is out there in the real world, getting your hands dirty by actually studying the market and evaluating investment results first hand. And more importantly, doing so without risking your own money.

This can be accomplished by becoming a "Real Estate Investment Scout". Scouting or "Bird Dogging" as some like to call it, is an activity that anyone can do regardless of their age, experience, income or credit history and without having to spend large sums of money. Scouting opportunities for other investors; is a safe way to gather the knowledge that will ensure your success. As well as limit the risk of exposing your own personal money while you're still trying to get your bearings in this business.

A real estate investment "Scout" is much like a consultant or research analyst, you find potential investment opportunities, do the research and analysis of the deal and then sell the information to other more senior investors for a fee. The fee structure can take many forms. In some cases it can be a flat fee and in other cases it can be a percentage of the purchase price. There are plenty f benefits to scouting which include:

1. It's completely risk free. Since you are not purchasing the property you have no need for financing or credit. Therefore you have no financial risk.

2. Requires no prior experience. You will undoubtedly find some stink bomb deals in the beginning that you're going to think are the greatest thing since central air conditioning. Don't worry about that. It's part of the learning process. The professional investors will tell you why the opportunities are no good. (Hint: This is how you learn.)

3. As you learn, you will be able to transfer deals to other investors for cash. If you save the money you earn from scouting, you will eventually be able to finance your own deals.

4. As you go about your merry way as a scout, you will develop relationships with investors, brokers and other real estate professionals. This will help you in the long run when you become a full fledged investor yourself.

Whether your goal is to eventually renovate properties for profit or purchase rental properties for cash flow, getting started as a scout is in this guys' opinion, the smartest, most realistic and lowest risk get started approach out there.

To your success!

Rik Foote

Rik Foote is the President & CEO of The Dorian Group, Inc. Dorian is a software company that develops affordable software applications designed to help beginners get off to a realistic and practical start as real estate investors. To learn more about Dorian's products and services visit http://www.reiscouts.com

MORE ARTICLES:

Lake Oswego Oregon Real Estate Agents / Lake Oswego OR Homes for Sale
Looking for a new place to live in the Portland, Oregon area? If so, youre not alone. In recent years, the popularity of Northwestern cities such as Portland has skyrocketed: people are beginning to realize that the Northwest offers tremendous culture, stellar job opportunities, and amazing scenery  in an area that is not yet overcrowded.

For Sale by Owner (FSBO) - How to Sell a House without an Agent
For Sale by Owner is money saving alternative to selling a house with an agent, and it is not so intimidating and difficult as it looks to many.

How to Sell Your Home Without a Real Estate Agent
Considering the rapid rise in home prices over the past several years, home sellers are taking a hard look at the commission they have to pay to a real estate brokerage to market and sell their home. Real estate commissions vary across the country; they average in the four to seven percent range.

Real Estate Loan Agents, Real Estate Loan Agents,Investment Properties, Investment Properties in USA
While America and the world hold their breath, waiting for the Presidential and Legislative Branches of the United States Government to take action, that will hold off and help correct the mistakes of the sub-prime meltdown, there are some progressive Real Estate Loan Agents providing mortgages from exclusive leads from the opportunities provided in their counties from the daily marketing efforts by the team at Myhomesearches.com. These loan agents, providers of mortgages during the boom days are making deals today because of their membership.

Learn Seven Things You Must Know Before Choosing the Right Waterfront Real Estate Agent
You?ve made the decision to buy a waterfront home Now, it?s time to choose a real estate agent to help you find your perfect home

Why it is Important to Hire Just One Real Estate Agent to Buy a Home
In our fast paced and frantic real estate market, buying a home takes quick action and strong representation. Some buyers decide to involve several agents in their search for a home, assuming that there is strength in numbers.

Real Estate Agents Turning to Surface Restoration Company to Help Speed Home Sales
Real Estate agents are turning to Miracle Method, a national surface restoration company, to update bathrooms and kitchens to get a higher price for homes and speed sales.

The Real World Advantages & Disadvantages of Using a Real Estate Agent to Sell Your Home
Are you a real estate pro If you are planning to sell your property and don't really consider yourself an expert in real estate selling then you may want to consider seeking out a reputable real estate agent to sell your property

Home Buying Institute Now Offers Free Real Estate Articles to Agents
Real estate publisher and home buying expert Brandon Cornett has created a new website that allows real estate agents to republish a variety of real estate articles for free.

Real Estate MLS Relisting Practices Make Real Estate Agents More Crucial
GuideToRealty.com, a comprehensive guide to the home buying process, cautions buyers against a new deceptive practice: changing "days on market" information. GuideToRealty.com covers the ethical debates among real estate agents about relisting practices and recommends home buyers use real estate agents to interpret the subtleties of real estate multiple listing services.

Indianapolis Real Estate Agent Offers Tips for Selling a Home in a Down Market
Indianapolis real estate agent Matt Borushko offers six tips that home owners should know when thinking about selling their home.

Real-estate-agent-lists.com Celebrates One Year Helping Real Estate Agents Prosper in Slow Market Using Realtor Lists to Work Smarter, not Harder
Zichron Internet Marketing (ZIM) LLC is celebrating the one year anniversary of its launch of list of 1.5 million realtors with full contact information including 1.1 million agent email addresses has made it easier and less expensive for agents to communicate with other agents to drive more business.

Design Firm Creates Flash-Driven Real Estate Listing Map for use by Real Estate Agents
This map is scalable, sizable and can zoom from an aerial view all the way down to the street level.

Real Estate: Buyers Agent, Sellers Agent & Dual Agent (defined and explained)
There is a relatively new and not always well understood practice in Real Estate sales; it is called Buyer Agency or Buyer's Agent. Until recently Realtors and agents usually represented the seller, in opposition to the buyer, during the real estate transaction.

The All Important Real Estate Agent - Selling Your Home in a Buyer's Market
You've decided to sell your home In the current real estate market where there is a veritable glut of listings in many regions of the country, there are some simple things that you, as a seller, can do to enhance the chances your home will sell within a reasonable period of time