For some time now, I have wanted to get involved in some form of real estate.
At the beginning of this year, I came across an advertisement for a workshop on real estate investing. It looked interesting and I had A LOT of free time on my hands (stay tuned for that story – it’s REALLY good 🙂 ) so I signed up for and attended the “free” workshop.
At the “free” workshop, I heard enough about wholesaling to seriously pique my interest, but definitely not enough to even get started. At the end of the workshop, a 3-day seminar was introduced (SURPRISE!! – There is ALWAYS a catch!).
Since the suspense was KILLING me and I am a sucker for money-back guarantees…I paid the $495 fee to register for the 3-day “Academy.”
I attended the first day, which was great-tons of information about wholesaling.
The second day-not so much… Except for that I learned that if I spent another $2500+, I could really learn everything I needed to know to make money wholesaling houses. Plus there was a lot of time spent during the second day on unrelated topics including the promotion of a third-world charity. Now I believe in paying it forward and giving back, but that was not what I was there for and I have a healthy disdain for false advertisement.
But wait-let’s back up just a bit… remember that money-back guarantee that I mentioned earlier? Well, it was a legit money-back guarantee, but in order to take advantage of that guarantee, you had to request it before the end of the first day (Can you say GOTCHA??).
By the conclusion of the second day, just after learning that if I wanted to know EVERYTHING about wholesaling I would have to sign up for yet one more training program, I had enough. I felt duped. Because I felt duped-I chose to cut my losses right then and there and not return for the third day. Not sure if what I missed out on during the third day would have made up for the second day-that I will never know-but I doubt it.
I don’t consider this experience a complete waste of time or even money since you don’t know what you don’t know-and I knew nothing about this particular real estate investment concept before attending the academy. Plus, because I was now aware of the wholesaling concept, I was able to research it a bit more.
When I started researching the wholesaling topic, it quickly became quite overwhelming. Thankfully, every video I came across on the topic warned that it could be overwhelming but not to let it stop you. Well, I kind of did. It didn’t really stop me, but it did stall me a bit, lol. It just seemed like a lot to do alone without having done it before AND being completely new to the world of real estate. I mean, I had handled the purchase of both of my homes, but that’s only one small part of real estate. Signing a contract, that I wrote up myself using a template I got at a real estate academy, to buy a house and then turning around (very quickly) and selling that contract to a rehabber just didn’t seem like something I should or even could do.
I say could because I like to sleep on any kind of decision-even something as simple as which type of creamer I am going to have in my coffee tomorrow. I just couldn’t see myself making decisions on the fly without knowing EVERYTHING there is to know about real estate first.
Sooo long story short-my indecisive nature led me to deciding to finally sign up to get a real estate license.
In California, the Department of Real Estate requires completion of the following coursework to become eligible to take the State’s Real Estate Examination:
Successful completion of three college-level courses is required to quality for a real estate salesperson examination.
- Real Estate Principles and
- Real Estate Practice and
- One course from the following list:
- Real Estate Appraisal
- Property Management
- Real Estate Finance
- Real Estate Economics
- Legal Aspects of Real Estate
- Real Estate Office Administration
- General Accounting
- Business Law
- Mortgage Loan Brokering and Lending
- Computer Applications in Real Estate
- Common Interest Developments
I had number 3 covered since I had recently taken a Business Law course-so all I needed to take was the Real Estate Principles and Real Estate Practice classes.
Some time ago, while doing a search for some real estate info, I came across several companies that offered the real estate courses online. I read the reviews of a few and decided to go with Licensing Solutions.
I received my materials in the mail a few weeks ago, but haven’t had the chance to get started. I plan to do so soon though, so keep an eye out for future posts on this 🙂