There are a lot of opportunities to make money in the real estate industry, and just as well there are a lot of ways to lose your shirt by getting started in real estate. The best way to benefit from investing and learning about the industry is to become a bird dog or property finder, A bird dog is someone that gets instructions or criteria for a specific type of property and brings that information back to an investor prescreened and ready for research.
The bird dog has the opportunity to see what deals are good and which deals are not by paying close attention to what deals go to close and the ones that don’t. Once you become fluent at bringing deals you will start to see a trend of what makes good deals. In order to make the most out of your opportunities, it would be best to keep a journal so you can take notes of all of your findings. With a journal you can always look back at the road that you paved and you will start to notice the clues needed to be successful in real estate investing.
Most of the successful investors throughout history were bird dogs for other investors and took that opportunity to build their empire from the groundwork their mentor laid out for them. You can read all of the books you want but you won’t really understand the concepts unless you see some else do what you are trying to do or you have failed a number of times that can cost you your shirt. Just think about it, would you buy an airplane ticket if you knew the pilot only read books on flying a plane or would you feel more secure knowing that the pilot learned by watching successful pilot take the plan off then land it?
In order to know the opportunities that exist in a real estate deal you must become an intern of the business so you can come up with your own blueprint for success. If you try to go at it alone you will only lose time and money through the process which is costly from both sides.