Finding a Real Estate Investment Guide – A Step Most Overlooked by Newbies

When you peruse the average written real estate investment guide you will undoubtedly find a lot of good and useful advice on how to make money in real estate. Generally speaking, the advice given usually runs along five basic steps:1. At the onset you must choose the kind of investment property you want to go after. You have the pick between commercial properties, multi family rentals, single family rentals, and also combinations of the various kinds of properties. Choosing one kind over another enables you to focus your attention.2. Next you will pursue the search for suitable properties. While ideally you will find something in your neck of the woods, the odds are good that this is an exception rather than the rule and by and large you will need to set your sights on other cities or even states in your search for the best and most profitable real estate markets.3. Once the market is honed in on, a team will be assembled that will help you to realize your vision. You will need a mortgage broker to handle the money aspect, a scout who will find the properties that meet all of your criteria, a realtor who will undergo the transaction on your behalf, and lastly also a manager who will take over the care of tenants and any other items that need tending to.4. Next is the need to have a firm network of willing investors ready to go and put up the money you need to see the transaction through. This may involve an investment club, private investors who may have responded to an ad on the Internet, or any combination thereof.5. Last but not least, you will go through with the transaction and finish it. This is incidentally a much overlooked step. Beginning real estate investors may follow their real estate investment guide to the letter up this point, when success is so close, and yet instead of focusing on finishing up all lose ends, the investor may turn to the next property, allowing problems to unravel the deal currently in the works. What is missing from most courses and advice books is the need for a real life real estate investment guide: a flesh and blood individual who has been there, knows the pitfalls of the transactions intimately, and also knows how to make it through a transaction without falling into the traps that so easy ensnare the unwary beginner.A real estate investment coach, mentor, or teacher who will help the newbie to the business see a transaction through from beginning to end is the most valuable asset a beginning investor can find.Consider the fact that the individual can answer your questions and provide guidance in real time rather than having to rely on the written word in a manual, and you will quickly understand how important this asset is to you! Even so, this is a step most overlooked by newbies who are chomping at the bit to get out and make money. Do not fall into the same trap but instead make the wise choice of using a mentor to guide you.