How to educate yourself?

**malung** · 07-07-2008, 07:43 AM

I was planning on taking real estate license course to educate myself about real estate, but a couple of my friends advise me that is not a good idea. If I take the courses just to educate myself and not take the licence exam, am I under obligation to disclose anything to the seller or buyer when/if I start investing.Is there another way to educate yourself so that I know what I am looking for and not just hoping and praying I get lucky on my first couple of deals?

**Codythebest** · 07-07-2008, 12:16 PM

What books or even a Real Estate exam are completely different than dealing in life.
Best education: Go out there and knock on doors...

**fairfieldcountyrealestate** · 07-07-2008, 03:38 PM

Hi Malung,

It is great that you are looking to take steps to educate yourself about real estate before investing. I am not sure you are going to learn the information you really want from taking the class required for real estate licensing.

As an investor, much of the information taught in that class will not add to your ability to purchase/invest in lucrative properties. If I were you, I would seek out a class, perhaps at a local college, in investment, real estate investment, investment property and the like. Very little of that is covered in the real estate licensing program.

Secondly, I recommend finding a local REALTOR who works with investors. They will be your best resource for helping you to determine multi-family profitability, expansion/upgrade return, rental income, etc. They will be able to access their local MLS and provide comparable properties to help you determine value and profit.

Good luck with your future real estate investments,

**Texas_** · 07-07-2008, 06:53 PM

I agree with the above. While real estate or broker licensing courses are essential for a well-rounded Realtor, they are not designed in any way, shape or form for those who want to buy and sell. Knowing the nuances of metes and bounds, riparian rights, the number of sqft in an acre, the Civil Rights Acts of 1866 and 1968, the procedure for placing your license in inactive status, or how many members serve on your state real estate commission might be nice to know... if you find that sort of information interesting.

EDIT to add: I've never heard of any disclosure requirement for someone who's attended a real estate class. Licensees are required by law to disclose their status in many instances. Taking a class, or even obtaining a degree in real estate, does not necessitate disclosure anywhere that I know. (But always consult a real estate attorney if you are in doubt.)

**Reg Esteban** · 07-09-2008, 07:44 PM

The mastermind concept, all the way.. get yourself networked with people that are great at what they do. Don't commit to just one group. Have a couple of options.. different groups of people to bounce ideas off of.