Hi everyone :)
I'm just getting started and I'm curious to know your thoughts on where to invest a few hundred dollars.
My local REI group costs $329 for the year and affords me the opportunity to attend local events, classes, and network. A pro membership at BP also provides a lot of valuable education and I would really like to attend the Bootcamp with Ashley which would cost $489 for both.
Torn between the two as far as best next steps to take as a beginner. If you were starting over today, which would you pursue?
Thanks in advance!
I would definitely recommend joining your local REIA. This option will give you access to investors in your local market and is a great way to springboard your investing journey. I personally believe the BP pro annual membership is worth it. I have used it for my lease agreement, dozens of rental analysis reports and rent estimators. Worst case scenario is that you try it for a year and you determine they were or not worth it. You can also write them off on your taxes as well.
If I were starting over again today, there are three memberships that have been the most useful to me, a membership to my local REIA, Bigger Pockets membership and the membership for my mastermind group The W2 Capitalist. There were two or so other groups that I paid to be a member of in my first year that did not really turn into much. In the end, you will be a millionaire from your real estate so don't be afraid to try a few things when starting out. In your first few years you will end up wasting a few thousand between memberships and mistakes with properties, but you will quickly learn what is worth your time and money, and what is not.
Good luck on your journey!
Thank you, Brandon! That really helps. If I may ask, what do you attribute a mastermind offering to your growth as an investor? Is it clear goal setting and accountability or something more?
Thank you again for taking the time to offer your insights. I genuinely appreciate them.
The biggest thing I would say the mastermind offers is accountability. The fact that you tell a group a people you are going to do something and have to speak with those same people a week or so later, puts a fire under your a** and make you take action. In addition, I have learned that paying to be part of a mastermind or community is so much more effective than being a part of free groups. I have been a member of multiple "free" groups and none of them materialize. This person forgot to join the call, that person had a dinner with friends. Before you know it you go three months and old had three meetings. A true mastermind brings structure and members are dedicated to helping one another succeed. Of the memberships and I have joined, my mastermind has probably had the most impact on my real estate journey.
I don't want to try to be a salesman for my mastermind here in the forums, but if you are interested in learning more, shoot me a message.
Thanks, Brandon. I totally understand the value of "putting skin in the game" so to speak. Accountability to others outside can be game changing and I've definitely experienced that in other areas of my life. I'm even looking at posting in these forums and speaking with people like yourself as a level of accountability to myself in order to further my growth and understanding of real estate. I'm saving up for courses and masterminds like you've mentioned!
@Stacey Thomas Have you tried out your local REIA?
My local REI friend group is amazing. I'd choose it over almost anything other REI subscription (except PropStream and my CRM/Automation software).
In addition to finding a deal and financing another in the first 60 days of starting it, we value our own local group because
- We get to hang out with like minded people from all walks of life
- They have great ideas that blow my mind
- We all contribute in our own way
- I have new and meaningful friendships
- We swap helpful vendor recommendations
- We can share / hear wins with / from people who we can be excited with (and without sounding like greedy jerks)
- They help me stay encouraged to keep on growing and growing!
I’ve been in other groups that fell flat and I wouldn’t pay a dime for.
I’d suggest being very clear with yourself about what you want to get out of your real estate investment group, and if you’re getting that out of it, then that is a priority investment.
Then, get one more deal and pay for BPPro :)
Thank you, Tiffany!
You’re definitely not the first person to say that and I appreciate how you broke down what you’ve gotten out of your local REÍ group. I’m attending another local meeting this week and the advice I’ve received here in the forums from people like yourself has helped me make my decision. THANK YOU!
Also, I’m jealous that you live in Montana. I’ll be doing a clinical rotation there next year and I might not leave. :)
@Stacey Thomas thanks for the reply. Enjoy Montana! What town?
Do both! Biggerpockets has pro membership discounts or they'll offer a promo code that'll take a percentage off the pro membership price. The more exposure you have the better.
Hi Michael :)
I definitely plan on doing both. I just need to do one at a time from a financial aspect at the moment. In the meantime, I’m reading all of Brandon and Dave’s books, consuming all the podcast episodes and reading the posts/asking questions in the forum. It’s an awesome community here! Will definitely go Pro asap.
It will likely be Bozeman. I’ll be there for a month so, I plan on exploring as much as possible. Who knows, maybe I’ll even find a deal while Im there :)