I Just joined another REIA, can one join too many groups or the more the merrier? Don't want to get OVERLY involved and OVERLOADED.
What should I expect from any/all of these groups?
@Troy Durrette Some groups are better than others so it is worth checking them all out. I would not pay for a years membership if I can pay per meeting.
In the beginning the more groups the better. After a while you may find some groups not that helpful. When your business is successful and you really know your stuff, time becomes very valuable. Many clubs main function is to sell courses. It is easy to be persuaded to buy a lot of courses you may not need.
Hey @Troy Durrette start slow and see what you like. There are lots of sub-groups with the Atlanta REIA that you might like depending on your strategy.
@Marvin McTaw Do you know of any REIA groups in the Atlanta area that meet on the weekends? Thanks!
I agree with Ned, pay as you go.
It's my understanding that these REIA "clubs" are a franchised operation. Nothing wrong with that.
The seem to be the centerfold for gurus. I know that they have other guest speakers, lenders, attorneys, CPAs, insurance broker/agents, so what I'd do (if I were you) would be to look at these clubs as a means to network and get local information when they had professional guest speakers. Check their calendar, if they don't have one, I'd think they would be running a pretty lose ship by the seat of their pants and be disorganized.....not good.
I'd also leave my checkbook and credit cards at home. Take enough cash for the door prize and dinner.
As a newbie, understand you do need to network on the investor side of the business. Keep in mind most everyone there is your competition too. You might bump into some money guys there, know they aren't "private lenders" they are hard money lenders fishing in the waters.
You'll also find leaches there, (not a derogatory term) it's very acceptable practice in RE for an experienced person to team up with inexperienced players to get a deal done, these experienced types just leach onto newbies and work deals, there are some who do nothing but leach deals providing themselves with more opportunities with less effort. Just understand that some leaches can be real blood suckers. I'd think too, the more eager you seem to be, the shorter the end of your stick will be. Whatever, just be aware.
You'll also meet operators who are not current with rules, laws and regulations, they been doin it for years and will swear up and down everything is legal. In reality, staying out of trouble requires work, and most probably don't work at it that much. So, again, beware of who you tie up with. Check em out before they check you out........ at the register. Just as it is here on BP or public forums, you get some good advice and you can get some very bad advice, you have to know the difference.
All the hogs get fed at the trough but the fattest hog knows how to get to the feed bin and keeps that a secret. When you go to these events, use your ears more than your mouth.
Don't get stuck thinking you have to go to these events to leach deals, or be leached, that can become the food trough. It is through other networking that you find the feed bin.
RE is a social business, get involved in other organizations where you meet people!
As to education, what you pick up might be how to deal, you aren't really learning the game because they don't teach the basics of the game, what the rules are or usual and customary aspects of real estate, so much. In other words, they may show you how to do a Sub-To deal, they probably don't explain the legal, financial, economic, administrative and the different exits of a Sub-To transaction. Sorta like, okay, I bought it, now what do I do?
Are your teachers really qualified to teach you by education, knowledge and experience or are you dazzled by their claims of having made millions just flipping old houses? Are they consistent in what they teach and do they teach what is usual. customary and accepted or are they off the path with some great new way of doing things? There is a lot of room to be creative staying close to usual, customary and accepted practice, begin there!
Okay, I'll say it again, learn real estate before learning how to deal in real estate. :)
Hey @Patricia Joseph most of the weekend events with the Atlanta REIA cost money (even as a member). The majority of the weekday events are free for members and low cost for non-members. You can see a Calendar of all the Atlanta REIA Events Here.
If you've never been to any of the events, I recommend going to the weekly "Have's & Wants" meeting on Thursday. There, people talk about what they have (e.g. deals, financing, etc.) and what they want (...well I guess the same). That's a good place to start as it is free for members and non-members alike.
Another sub-group that I've been to before and liked is the Creative Financing Sub-group. It meets once or twice a month at a local restaurant. I think if you're a non-member it's like $5 or $10.
As far as the weekend events, you have to look at the Calendar and also just pay attention to the special announcements they have.
Thanks @Marvin McTaw for the info!
@Troy Durrette Personally I prefer the GA REIA (non profit) of the Atlanta REIA (for-profit). But thats just my personal opinion from both experiences.
The first GAREIA meet up I went to had one guy talking about how he spent 3 weeks trying to get out of $210 for court fees. He found the law that says he gets it back after going to the library and 3 other places. This was his story he decided to tell us as his part of the "bring your deals" part of the metope. There were no other deals brought, other than mine.
The other meet up i went to was $10 and also was a "bring your deals" and mine was the only deal. then a lady spoke about shingles for an hour. I was brow beat the last time for leaving early so i sat through the whole thing and it was so boring.
I have gotten so much more from the Atlanta REIA. Especially the Haves and wants.
Sorry for the rant. I guess it's just built up.