Episode 3
3 – Beginner's Guide to Real Estate Investing
Episode Summary
In this episode, Quentin takes the mystery out of real estate investing with this new member who is just beginning her journey, and we cover some of the basics, some of the lingo, and where to start the learning process, as well as the best place to start building the network.
The member shares that she became interested in real estate investing as a means to achieve financial freedom, and that is how she discovered EducationREI. Quentin suggests going through The Action Taker Goal Attainment Program first, as well as The Action Taker Wealth Pyramid. The Wealth Pyramid gives you the background on how to structure the direction of where you want to go. He also suggests her to start with the materials that are available and then join the calls, especially the ones for the beginners. After that, she should go through the courses Your First Three Properties and Your First Million in Real Estate. He further says, "Right now, the most important thing for you is to listen for the language and understand the concepts."
Quentin goes on to explain some of the lingo such as ROI (Return on Investment), Rent to Owns, Wholesaling, Joint Venture, etc. He adds, "As you start to learn and you go through the materials, you'll start to listen and hear different strategies that people use. And every strategy is different, and you're going to find ones that work for you and ones that you're not interested in." He also adds that being around other people who are doing the same thing is like who are interested in the same thing, that's going to help a lot.
As for whether this is a good time to invest in a property, Quentin says that it is more about finding something that works well for you. When you're looking at doing renovations, you have to know who you're dealing with contractor-wise because it will affect your overall costs. Talking about, The Ultimate Wealth Strategy book, he says that it really is about purchasing well, keeping your renovation costs under control and then refinancing to that the highest amount possible, while your property still cash flows.
Topics Discussed
• Introduction [00:00]
• Her Background and Experience in Real Estate Investing [01:24]
Important Links
• The Action Taker Goal Attainment Program
• The Action Taker Wealth Pyramid
• Your First Three Properties: Your First Million in Real Estate.
