I honestly don't know how to go about this.I'm looking to enter the world of REI.I'm good with social media,networking,marketing and like to see how houses are remodeled etc.I have tried going to REI clubs.But i meet investors that wants $$$ For there classes.I'm willing to work hard and prove myself.i'm located in miami fl.any suggestions would help out tremendously
Welcome to BP! First step is being on here and reading as much as you can. There is a wealth of information here on BP, and if you have any questions, post it here, you'd be surprised with how much feedback you get. Next set up your keyword alerts so you can be alerted anytime there is a blog post or forum that piques your interest. For example some of my keywords are california, seller financing, multifamily residential, commercial property... I am not sure what your "day" job is, or living situation, or what kind of finances you have, but look up house hacking here on BP. Its purchasing a property like a duplex, triplex or fourplex and living in one and rent the others so they cover your mortgage and expenses and you'll get to live for free or close to it. You can do FHA loan that will allow you 3.5% down payment as long as you are living in the property as your primary residence. If you can't afford a multifamily, you can look at single family residence, purchase it FHA, and rent out rooms in your house (if you are single with no kids of course, might be difficult to do so if you have a family). But that is a start that can help you get your foot in the door. Sometimes the best education is learned along the way and you figuring stuff out as you go along. Try multiple REI meet ups, you may have to deal with a lot of investors who want you to pay for their classes, but every meeting you attend, make an effort to meet someone new and learn something new. A lot of times these investors will just brush you off unless you purchase their classes because they see you as a newbie who may or may not last long enough in their real estate world. (btw don't purchases their classes, all the info i've ever needed I've found on BP), where as if you don't lose focus, keep being social and network, show yourself to be of value to them. (offer them to be an unpaid intern if possible) they might come around and give you more in-depth information that will be of value to them. Remember you are their competition right now, unless you can provide them with a service or value they will appreciate. Best of luck!
I would spend some time listening to the BP podcasts. They are truly a wealth of knowledge. Several of the podcasts discuss mentors and how to get involved with them. Best of luck!
Keep going to those REIAs. It takes a while to figure out who's who and for people to know who you are. It took about a year of regular attendance for opportunities to start coming our way. If you are willing to contribute skills and energy in exchange for education, someone will be able to take you in. Just keep up the networking.
To give you an idea, in one of our REIAs, there's a really nice guy who's been coming for about two years, helping out, distributing fliers, going to the after meeting dinners, etc, but had yet to pull the trigger. Just last week, a big investor called him up and took him to meet a seller and put him into his first deal and funded it for him--just because he saw the commitment this guy was making.
welcome to BP, stay active on here and learn as much as you can. Where in Florida?
David - all good advice above.
Local networking is key in order to find out who the serious players are. Once you have identified the handful of heavy hitters, I would suggest volunteering in their office as much as you can.
Even it it's just cleaning or answering phones - you will pick up some good tid-bits through osmosis.
Don't worry about getting paid [of course if they offer to pay, take it] but more on gaining knowledge - this is your pay.
Get out there at least 2-3 time per month for after hours meetings - REIA and meetups, etc. In addition, try to meet at least one new person each week face to face.
I did this in the beginning and it has paid off with huge dividends.
Good luck and keep pressing forward!
Of course, you need to read The Ultimate Beginners Guide to REI here on BP
If you haven’t already, please read/listen to these books ASAP!
Flip2freedom episode 77[http://www.flip2freedom.com/a-3-step-formula-to-a-successful-balanced-and-insanely-profitable-2012/] - podcast - LISTEN TO THIS TODAY!
Wholesaling101 You Tube Channel
Kent Clothier – You Tube Memphs Invest channel