Investing takes some up-front education, and patience. But what it requires most is time and money. I stumbled upon an excellent resource for real estate investment advice today. John T. Reed has a website that evaluates virtually every single investment guru/real estate investment seminar that's ever existed. He throws several famous "gurus" under the bus, and explains in detail why their methods are shady or to be avoided.
If you have been toying with the idea of real estate investment, let me offer you 2 absolute truths:
1.) Start small. A $150,000 single family residence rental can teach you more than half of everything you'll need to know. Don't lose your life savings going big, or you won't be able to go home.
2.) Ask yourself if the advice you are hearing seems plausible. If you have to "reach" for a reason to buy into an idea, you are setting yourself up for failure. Many MILLIONS of people have been duped by these infomercial nimrods promising that their brand-new methods will make you a millionaire in just a year or two.
Reed's exhaustive list of the scumbags who've bilked Americans out of millions is frighteningly long, and sometimes contested by those same guru's. They claim Reed just wants to sell his own ideas. Regardless of who is right or wrong, if you are serious about investing, head over to that list of dirtballs, and see if he has a take on one of them. He seems to have a great deal of insight, not to mention, clout.
