Learning About Real Estate Investing

If you’re a Baby Boomer or a Gen Xer, then you’re thinking more and more about retirement – mainly, how are you gonna afford it? After all, we all know that Social Security is not much of a retirement plan.

This need-to-know desire is driving lots of folks to learn about real estate investing. After all, more folks have achieved financial freedom from real estate than from all other types of investments – combined!

The question we’re continually asked is, “What’s the best way to learn how to successfully invest in real estate?” Here’s a hint: All those TV infomercials are nothing but hot air. Those “gurus” who come to town offering a “free” seminar are just snakes in the grass…but then, you already know this.

After 19 years of investing in real estate, we’ve learned that the two best ways to learn are 1) Meet with sellers and ask Pete Fortunato’s famous question: “Why are you selling such a nice house like this?” 2) Hang out with been-there-and-done-that investors.

Sure, neither of these ways is sexy, but they are incredibly effective. Gotta add one other thing: You’ve got to do both a lot…once or twice just won’t cut it.

How confident am I of this advice? I’m about to put my time, money and effort where my mouth is. I’ve decided to spend a good bit of the next five months in Tampa, Florida. Why Tampa? Two reasons: First, Pete Fortunato lives in St. Pete – it’s right next to Tampa. (Do you think St. Pete is named after him?) Pete has been one of our primary teachers since 1999, and is the best creative deal structurer Kim and I have ever met.

Second, because of investors like Jack Miller, Pete Fortunato, John Schaub, Mike Meeker, Jimmy Napier, and Warren Hardin, Tampa is the Mecca for real estate investors. There are more magnificent creative deal structurers there than anywhere else. Don’t believe me? Go to just one Real Estate Exchangers meeting at Denny’s in St. Pete – you’ll never be the same again!

Poor Pete doesn’t know it yet, but he’s about to get a free chauffeur. I’ll be staying right around the corner from him. Every time he goes out his front door to go anywhere, there I’ll be, in his driveway, in my car – blocking his car! He either lets me drive him or he doesn’t go!

Does this make me a stalker? Absolutely! But think about this: Pete needs to go to McDonald’s. Because his car is blocked, he gets in mine. On the way to the restaurant, I stop by a couple of sellers’ homes and knock on the doors. What would YOU give to watch Pete Fortunato at a seller’s kitchen table creatively structuring a deal?

What’s it worth – what great advice can you get – if you take John, Mike or Jimmy to lunch?

If you want to learn about real estate investing, please learn from our hard-earned experience: Skip the nonsense and go hang out with experienced investors…and remember to meet with sellers!