Whether you are a brand new investor or a seasoned and experienced veteran investor, no matter how long you read and study to become a Real Estate Investor, odds are you will always have questions. This can be a complex business, where you never stop learning. Furthermore, no one does it alone. The very best way to have most, if not all, of your questions answered or at least talked about, is to join your local Real Estate Investor Association (REIA). This is often the closest you will get to a one-on-one personal mentor.
Being a member, or at least attending REIA meetings gives you are the opportunity to interact with peers and other like-minded people, some of which have been investing for years. Here are some tips for how you can benefit from being a member of a Real Estate Investor Association.
Whenever you attend a Real Estate Investor Association meeting you should keep in mind that these events are often (but not always) not for profit and under funded. You may notice that many of the speakers seem to be trying to sell you something. Remember that speakers at the real estate investment club meetings are not getting paid to present. So the speaker uses the opportunity to sell his or her services.
These services might be in the form of videos, mentoring, or a cd set or a combination. Many times the speakers give back some of his/her proceeds to your REIA. Do not let the sales pitch stand in the way of your education in terms of what the presenter is trying to teach you. Listen to what each speaker has to say, regardless of what he/she is trying to sell, odds are you can pick up at least one new thing; try to learn something from the speech.
In terms of the Club's Veteran Real Estate Investors, make sure to have respect for their time. Often investing newcomers think they can simply take a veteran out to lunch in exchange for some tips to use in real estate investing. As a new investor, it is important to understand that few people give away valuable knowledge for free. This is also true of veteran real estate investors. Unless you are bringing some deals to the table, you should not expect for a veteran to just hand over education.
It is a good idea to also keep in mind that these veterans have spent years of money and time taking courses and going to seminars to learn the real estate business. It is very unlikely that they will pass along this knowledge for steak and potatoes. This does not mean that you can not or should not ask a veteran for advice, but that you should make it worth his while to teach you the tricks of the trade. As a newbie, one really good way to network and ask questions is by giving back to your REIA by donating your time. There are often many volunteer opportunities which makes it a win-win situation for your and your REIA.
Use the real estate investment club to network and meet other people. When you go to meetings do not sit alone in the corner then quietly duck out minutes before the meeting has ended. Use these real estate investment club meetings to your advantage. Let the other club members know who you are and why you are there. If the club does not have name tags, bring flyers. If flyers are against the rules bring business cards. The most important thing is to make sure the other real estate investment club members know who you are and what you can bring to the table. This will let others know that you are serious about real estate investing and, in turn, makes them more willing to help you. In your real estate investment endeavors you will need many resources along the way, what better way to get the help you need than from your fellow Real Estate Investor Association Members.
The National Real Estate Investors Association can help you locate an Association in your area. Note: not all Real Estate Investor Associations are members of this National Group.
About the Author:
Chris Parks is a Real Estate Investor who has been involved in Real Estate in one capacity or another since the mid 1980s. As a member of a small group of Real Estate Investors and Entrepreneurs, Chris created Real Estate Investing for Newbies http://www.REIforNewbies.com in order to teach and assist new Real Estate Investors in a step-by-step and easy-to-understand manner.
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