Hi guys. I'll thank you ahead of time for tolerating another newbie question.

Im looking to learn about real estate investing, and more in particular, what I need to avoid in the beginning. I really don't know the first thing about real estate, and would like to get a few books on the subject. To be honest, Im scared to death to do it, simply because of the state laws etc. (Im in delaware btw) Im not a lawyer, and can't really stand to lose all my hard earned money. Basically, I'd like to find a decent fixer-upper, only after I know exactly what Im getting myself into.

If anyone can help me out, it would be great.

Go to the barnes and noble or your local bookstore and look in the real estate section there are hundreds of books to read on investing.I don't buy them i just read them there for free unless it is a really awesome book i want for my collection.

good luck

My current favorite intro book to this subject is:

The ABCs of Real Estate Investing by Ken McElroy

This is a book from the publishers of the rich dad poor dad books and the author is someone who has actually been there and done it. Lots of practical info.

R

You already sound a lot smarter than most would be or wanna be real estate "investors".

It is critically important to do all your due dilligence BEFORE you commit to buying a property to make sure you know exactly what you're buying.

My suggestion would be to look around in your area for a real estate investors club of some sort. I'll bet almost no matter where you live there's one somewhere.

I drove 320 miles round trip yesterday to attend a real estate investment club meeting in another state because they were having a panel discussion on landlording with several successful landlords.

You'll learn a lot more (as well as being constantly inspired) by hanging around people like these who are actually doing it every day in the real world, than by reading all the books ever written about the subject.

There's always an element of fear when you're making that committment to buy a property; just take a deep breath and go ahead after you've done your research.

You'll also discover that most investors are very helpful to newcomers and readily answer questions and/or offer helpful advice.

You'll also have a great learning experience from buying your first property.

Thanks for your post Jim. Very helpful. I've always been very careful, especially with my money. Some say too careful. I think this is a situation where that will pay off though.

Is there anything that really sticks out in your mind about your first deal? Maybe something that wasn't expected, or very much was expected?

As Jim said, Investment Clubs are great places to start. From there, I'd recommend reading up at some of the investing forums (like ours) including this one, and read articles at the various investing sites as well. There is such a vast amount of info to pick up, and it is all free. The other benefit is that once you have questions, there are always people to help out. You need to pick and choose what books you buy - some are good - many aren't. The same goes for courses. Once you feel a bit more comfortable, and you've done your DD, then it is time to start.

It is never too early to start looking at properties, though.

The feeling. I remember thinking; "Wow, now I own two houses."

It's a good feeling; do it.

Hey Tony are you an agent of just someone who wants to invest?

If you are an agent you will be limited as too some of the strategies some of these investment clubs use.

In our area an investment club costs about 500 a year.Most of the time it's nothing more than a guest speaker pushing there sales and systems for hundreds to thousands of dollars.

Partner up with a successful investor that you can learn from.

No, Im not an agent. Im just a 26 year old guy who would like to learn the trade. I have a fair amount of cash and great credit, so I figure that will get me somewhere as far as money goes. Now I just need the knowledge.

Delaware seems to be bit thin on the investment club side. I found one, but the number is disconnected and none of the emails work, so Im guessing its out of commission.

Thanks for the idea about finding an investor. Im not sure where to look, but Ill see if I cant find one.

If an investor from delaware reads this, email/pm me. Im in rehoboth beach.

Try anything by Tom Lundstedt. Here is his site.
http://www.tomlundstedt.com/

My first investment property was not even in my state. Bought a place in Hawaii.

SCARED THE LIVING CRAP OUT OF ME to realize I now had two properties to worry about.

Then I was amazed at how easy it was and wondered why that fear was ever there at all.

Once you get past any of the butterflies regarding the first one, your not going to be able to stop yourself!

R

Such as? As long as you disclose, their is just about no stragtegy you can not legally use.

Check out these ones:

http://flippingtraining.com/

http://realestate-investinginfo.com/

Good Luck!

I figured I was just tack onto my original post, since its about books. Anyone here own this? I was thinking about getting just the birddog ebook. Apparently, hes sold 250,000 of these.

http://www.investmentre.com/birddogging.htm

Have a look at this ebook it can be downloaded right now if you're impatient.

This guy does many talks here in Canada and the rules are for North America so you will get accurate information.

You can actually call him for advice- I did

http://todaybooks.com/product_info.php?products_id=127