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Today: 20.01.2018 - 15:09:40
   Canada Mortgage Hub Discussion Board -> Mortgage Winnipeg -> Whats the best way to get experience in the real estate business ( real estate investor )?
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proman99

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Whats the best way to get experience in the real estate business ( real estate investor )?
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Canadian mortgage lender
Post # 1.

orlad

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If you read enough investing books and material, you will do circles around the real estate agents. It's amazing how little these agents know about real estate. Getting your real estate license doesn't give you the ability of knowing what you are doing.Rich dad poor dad doesn't give any specifics, just a great philosophy on life (even though his book was a lie about his childhood). Also, keep in mind that real estate investing is just like being a real estate agent. For example, as an investor, you can flip property without money or credit by using assignable purchase contracts. As a real estate agent, you simply get the listing and make it available to other real estate agents to find a buyer for you and you make money without money or credit. My suggestion is to read a lot of real estate investing books, real estate marketing books and then be an assistant to a real estate agent to understand the lifestyle. Even if you have to work for free on the weekend. If it is something you would like to pursue, then get licensed. The pros of being licensed is that it is easy to make money. The cons is that you don't make as much as an investor per deal and you have more liability since you are considered to be more knowledgable than a common person. I would leave property management alone. Do it on the side if you ever use a long term buy and hold strategy.
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qutatela

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I was in the same boat as you. I'm 21 years old and I've been with my current employer for a little over a year. I wanted to transition from a job to a career in the real estate industry. I wound up in the lending part (I work for a mortgage broker). I really enjoy what I do and I've learned so much from the lenders perspective as well as the buyers perspective. I haven't purchased yet myself as I'm still trying to save, but I've defiantly got a foot in the door so I know what I'm doing. An advantage to working on the lenders side is that you know what you need to be approved and you can make friends with the realtors. The realtors will let you know when that certain property is available and can also teach you a couple of things.
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Bc mortgage
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