Worst way to start investing in real estate. Oh, yeah, you heard that right. I have been
teaching real estate and been in real estate for more than 10 years. And I have some horror
stories that I am going to share in this video so you do not do any of these things that
I am going to share with you. Let's go. I'm going to share with you the biggest traps
and scams out there in real estate investing so that you can avoid them. I'm going to share
with you the sure fire way to invest in real estate so that you don't lose money. And I
am going to share with you my biggest secret on investing in real estate with no money
and no credit. Hi, I am Noelle Randall. Real estate millionaire, entrepreneur, mentor,
and mom of 5. And I have been investing in real estate officially the correct way since
about 2009. I have made so much money in real estate that I have been able to quit my 6-figure
job. And now, I am able to teach real estate, write books, I have a podcast, I have a YouTube,
I have millions of followers. Real estate investing has completely changed my life.
And now that I am able to teach it, it is grown even further. So, I absolutely love
real estate investing. But I know there are some terrible ways to invest in real estate
that people are doing. So, in this video, I am going to teach and outline to you some
of the worst ways to invest in real estate. Mainly because students are still doing it
and I even did some of these same things. I want to make sure that you leave the end
of this video knowing exactly what not to do and do the right things in the process.
So, the number one worst way to invest in real estate is with a real estate agent. I
know, I know. I cringe. That sounds awful. I am literally a licensed real estate agent
in the great estate of Florida and in the great state of Texas. And inf fact, I was
even licensed as a real estate agent in Georgia for a period of time. So, I know what it's
like to be a real estate agent. And I know the education that real estate agents receive.
And so, as a real estate investor, real estate agents are no fun. They are usually the worst
way to invest in real estate. Most real estate agents are going to be the worst way to invest
in real estate. I know. And I mean that. Most of them are going to be the worst way to invest
in real estate. And this is because the education is so different. As a real estate agent, you
go to school and you learn about how to be a an agent, how to work for a broker, how
to take people in your car and show them houses. And go to people's homes and talk them into
letting you be their agent and list the house for them. It teaches you about how to deal
with your broker, how to deal with clients, how to fill out contracts and things like
that. The real estate agent is all about the retail world. Meaning you're selling properties
at the highest value you possibly can. And as a real estate agent, the higher you sell
the property for, the more commission you make. therefore real estate agents and real
estate investors are usually not compatible. Real estate investors are trying to pay the
lowest amount possible. They are trying to save money. They don't want to pay commissions.
They're trying to cut out all of the fat so that they can get the property at the cheapest
price possible. The education of a real estate investor is completely different than the
education of a real estate agent. Yes, you learn about contracts and you learn about
talking to people. But as a real estate investor, you are focused mostly on numbers. You're
not necessarily concerned about what school district the home is in and why picket fences
and... You know, what type of countertops and things like that. That's not usually your
primary focus. Your primary focus is "how much money am I going to make on this property?
How much money per month? How much money when I sell it? How much money can I borrow against
it?" How much money can this property make is what an investor cares about. And a real
estate agent cares about a whole bunch of other different things that I am not going
to get into. Like I said, I'm a licensed real estate agent. But I do not enjoy being a real
estate agent and I do not work as one. I am a real estate investor. I like making money
off real estate and I like owning properties. Yes, I have my real estate license and I do
real estate investing. But real estate investing is what I like. Not agent. So, that is a big
mistake --if you get into a real investing as a real estate agent. Number 2 worst way
to invest in real estate is no education at all. So, like I said, one of the worst ways
is to get the education of a real estate agent and then try to be a real estate investor.
That's a big mistake. But having no education at all is probably even worse. And that's
where most people fall into including yours truly. I literally started investing in real
estate in 2002-2003. I was living in Atlanta. I was in my early 20's, I was young, I was
having fun, and I was also working a full-time job while trying to flip houses. It actually
was working out for a few years as I was just flipping a couple of houses on the side, making
some money, and working my full-time job. But when the crash in 2008 happened, I ended
up losing everything. And I had no idea what to do. I never learned how to invest in real
estate. I never was going to any conferences, any seminars, any classes. I just started
investing in real estate and doing some research online. I never really learned. That is a
big mistake. If you are going to invest in real estate, you need to educate yourself.
No, you don't necessarily have to spend 50 or 80 thousand dollars on a coach or a program.
But you're going to have to spend some money in investing in yourself in some way. I am
not going to tell you what I had to do. But I had to get educated and that is how I got
to where I am now. Again, I'm not going to tell you how much I spent. But I dig a coach
that taught me how to do wholesaling. Which is actually what I teach to you absolutely
free on Youtube. So, again, no need for you to get a coach there. If that's what you want
to do. However, if this is something that you're really wanting to do and you want to
take it to the next level and make hundreds of thousands of dollars or even millions of
dollars per year like Noelle, then you're going to have to educate yourself. And it's
not very exepensive. So, just start doing it. The number 3 worst way to start investing
in real estate is with no business at all. So many people will start investing in real
estate and never get a business license. They never get their LLC, their S Corp, or their
C Corp. They don't get an EIN. They don't get their articles of incorporation and their
operating agreement. In other words, they never set up a business. They just want to
start investing in real estate. Meaning, they want to flip some houses or they want to get
some rental properties or they want to do some wholesaling. Or whatever it is that they
want to do in real estate but they don't want to make a business out of it. And they don't
set up a business. This is the absolute worst way to start investing in real estate. You
need a business. If you don't have a business, then you're not going to be able to grow this
business. If you don't have a business, then it's you personally that owns all the properties
and you personally that is liable if anything happens. This is a major mistake. And this
is literally one of the ways that I ended up in my parents' basement, broke, bankrupt
with multiple foreclosures. Please do not make the same mistake that I did in 2004 and
2005. Set up a business and do it the right way. It protects you and it makes it so much
easier to grow the business with the next thing that I am going to tell you. Number
4, no business credit. One of the worst ways to start investing in real estate is not having
business credit. I literally took many, many years and I've only gotten business credit
in like the last 4 years. I started my business in 2014. And I was doing real estate investing
and I had a business. And business credit was even one of the things that I lack doing
and I was late to the party. So, don't make that same mistake. Once you set up your business,
you can very easily build business credit. In fact, I have an entire playlist on YouTube
where I teach you how to build business credit even if you have bad credit, even if you don't
have very much money. Business credit will unlock hundreds of thousands of dollars for
your business. This will allow you to grow faster. This will allow you to get more properties.
This will allow you to have money in case something goes wrong that's not in your name
personally. Additionally, if something happens with the business and you have funds and loans
and stuff like that in the business's name, and something bad happens, it doesn't ruin
you. So, you want to get business credit. It will help you because it will grow your
business faster. And it can protect you if anything terrible happens. I have created
an entire training program and I am going to let you get it absolutely free. It's over
an hour long so it's a little bit too much for me to teach here. But I break down for
you my exact formula for investing in real estate with little to no money and without
using your credit. You can get this training absolutely free at noellesfreetraining.com.
Again, that's Noelle (n-o-e-l-l-e with an s), Noellesfreetraining.com. It's a complete
program that will teach you so that you can have all of the resources, all of the tools
and all of the knowledge that you need to be successful. This is Noelle. To your success.