Arizona investor

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Arizona investor

Drew Cameron
Lender · Peabody, MA · Member since 2015 · 82 posts · 49 votes
I'm a newbie to real estate investing in the Phoenix area and was thinking about joining a club to find a mentor and network. Is it worth paying a membership fee and going to monthly meetings or would it be more advantageous to network and get a team then rely in bigger pockets? I called a bandit sign that said real estate investor seeks trainee and went to a meeting. At the end of the meeting they tried to sell me a 20,000 education course and being part of a local team of investors. I had already gone to a than Merrill weekend conference which really sold me on real estate investing just not with his group. After going to this meeting it was comforting to meet with local investors, but they seemed so amateur and weren't really doing a ton of deals. $20,000 I think could be better spent doing deals, but I'm nervous to just start on my own without seeing how experienced investors estimate rehab costs and what to do as far as work when comparing comps. I'm afraid that if I don't get a mentor I'll never do a deal based on my comfort level. Is anyone else in the same boat? Did anyone pay for mentors to start off?
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Brian Gibbons
Investor · Sherman Oaks, CA · Member since 2008 · 6k+ posts · 3k+ votes
10y
Originally posted by @Drew Cameron:

I'm a newbie to real estate investing in the Phoenix area and was thinking about joining a club to find a mentor and network. Is it worth paying a membership fee and going to monthly meetings or would it be more advantageous to network and get a team then rely in bigger pockets?

I called a bandit sign that said real estate investor seeks trainee and went to a meeting. At the end of the meeting they tried to sell me a 20,000 education course and being part of a local team of investors. I had already gone to a than Merrill weekend conference which really sold me on real estate investing just not with his group. After going to this meeting it was comforting to meet with local investors, but they seemed so amateur and weren't really doing a ton of deals. $20,000 I think could be better spent doing deals, but I'm nervous to just start on my own without seeing how experienced investors estimate rehab costs and what to do as far as work when comparing comps. I'm afraid that if I don't get a mentor I'll never do a deal based on my comfort level.

Is anyone else in the same boat? Did anyone pay for mentors to start off?

Drew  

Why don't you....

bird-dog for a wholesaler, find leads for others

Drive for dollars, 

get your real estate license, or Be a realtor's assistant, develop a good listing presentation, 

learn creative financing like subject to existing financing, lease with option, Lease purchase, JVs for rehabs, JVs with home sellers on minor rehabs

learn your tenant landlord basic laws and leases, 

find a good contract attorney, 

learn private lending and how IRAs can be used for private loans, 

get three business cards, 

I buy houses any condition for Wholesaling sellers, 

stop paying rent free report on Rent Own, drive to a webpage, 

and 

learn how to get 6% steady income on your investments through real estate IRAs, free report

This business is about talking to people, ask good questions

Good luck!

2Reply
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  • Chris Esteban
    Mesa, AZ · Member since 2016 · 5 posts · 1 vote
    10y

    Hi, I am also brand new! I live in Tempe Arizona and I also called one of those signs. I am thinking it way too much money.....I am starting to read as much material as possible. So very glad to be here

    1Reply
  • Jonathan J. Miller
    Lender · Denver, CO · Member since 2015 · 275 posts · 35 votes
    10y
    Welcome to BP guys. Feel free to ask me any questions on the lending said.
    1Reply
  • Jayden Pudney
    Wholesaler · Apache Junction, AZ · Member since 2016 · 29 posts · 9 votes
    10y
    I'm a wholesaler in Arizona. Feel free to message me any questions you have
    0Reply
  • Account Closed
    Phoenix, AZ · Member since 2015 · 43 posts · 11 votes
    10y

    Drew, was in the same boat, went to one of those 3 day seminars all excited about Real Estate investing and then bam...$40K to join the group, get mentored, get leads, get funding....Couldn't bring myself to continue and pay that much when I knew I could find the same info on line. BP is the way I went, granted it may take a little bit longer to get started, but you are correct, the $20K, $30K, or $40K could be much better used to do deals or at least get your business started going in the right direction. I watch alot of BP Webinars and read the forums and think I am moving in the right direction. You can do what you want, but I would suggest NOT forking out $20K on their education program. Keep searching BP for your questions and learning. Also, got Meetup.com (also an app on your phone) Their you can find many REI Meet ups and go to some of those, you might be able to find a mnetor there without having to pay $20K. They are local investors, some brand new and some or many with experience, but you will be able to network and talk to local investors on what and how they do this! Great tools!

    Good luck and happy investing!

    1Reply
  • Susan Franey-Bascom
    Pacific Northwest · Member since 2015 · 20 posts · 6 votes
    10y

    Hi Drew,  check out the Arizona Real Estate Investors Association.  The webstie is azreia.org.  Lots of smaller groups in the association you can attend depending on the type of investing you're interested in; Fix and Flip, Buy and Hold, Notes, etc.   I've talked with several investors that go to local meetings via meetup.com also.  

    1Reply
  • Casey Miles
    Investor · Mesa, AZ · Member since 2014 · 176 posts · 54 votes
    10y

    Hi Drew,

    There are some things you can do for free while your organizing and planning your path in RE. I'd start looking at the various real estate sites to get an idea of what sells and for how much, what are the rental rates, etc. I look at the MLS multiple times per day. While your waiting for that first move you'll feel more confident making it because you're educated on the market. If it's a good deal it will move quickly and you don't want to waste time educating yourself then because it will be gone.

    I'm in Mesa, let me know if I can help in any way.

    Casey

    0Reply
  • Mark Nolan
    Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    10y

    @Drew Cameron

    Welcome to Bigger Pockets. It is a good community to network and learn about all aspects of real-estate investing.

    0Reply
  • Drew Cameron
    OP
    Lender · Peabody, MA · Member since 2015 · 82 posts · 49 votes
    10y

    Thanks for the advice everyone. I had been thinking about joining the real estate clubs that are available here. I noticed that there are 2 different ones. I have never heard of meetup.com before I'll have to look into that. I've definitely been doing my homework here on BP and reading almost all the books they recommend. I think I'm in analysis paralysis because I've never bought a house before and the idea of losing scares me, but I'll get over it and start making moves.

    0Reply
  • Stone Jin
    Rental Property Investor · Chandler AZ and Sylvania, OH · Member since 2009 · 708 posts · 561 votes
    10y

    Hi Drew,

    I joined AZREIA for the rebate program with Home Depot.  The networking and education is very valuable, but for me the 20% off of paint pays for the membership itself.

    Best of luck,

    Stone

    0Reply
  • Bevla Reeves
    Real Estate Agent · Scottsdale, AZ · Member since 2011 · 471 posts · 296 votes
    10y

    BEWARE Drew!

    "Mentors" do NOT charge..."Coaches" do!  Mentors teach from the heart!  Don't fall for that scam!

    Find a mentor willing to teach you and go above and beyond to repay him/her with sweat equity!  Stop at nothing to show your gratitude and you'll find the right teacher!

    Cheers to your success!

    0Reply
  • Bob E.
    Queen Creek, AZ · Member since 2014 · 2k+ posts · 1k+ votes
    10y

    @Chris Esteban You can also check out local Meetups.  We have one going that meets in Scottsdale monthly called Creative Real Estate Investing.  We have a variety of experience in the room.

    People with experience are welcome to share their experience, and new people are welcome to come,  ask questions and learn.  

    1Reply
  • Brian Gibbons
    Investor · Sherman Oaks, CA · Member since 2008 · 6k+ posts · 3k+ votes
    10y
    Originally posted by @Drew Cameron:

    I'm a newbie to real estate investing in the Phoenix area and was thinking about joining a club to find a mentor and network. Is it worth paying a membership fee and going to monthly meetings or would it be more advantageous to network and get a team then rely in bigger pockets?

    I called a bandit sign that said real estate investor seeks trainee and went to a meeting. At the end of the meeting they tried to sell me a 20,000 education course and being part of a local team of investors. I had already gone to a than Merrill weekend conference which really sold me on real estate investing just not with his group. After going to this meeting it was comforting to meet with local investors, but they seemed so amateur and weren't really doing a ton of deals. $20,000 I think could be better spent doing deals, but I'm nervous to just start on my own without seeing how experienced investors estimate rehab costs and what to do as far as work when comparing comps. I'm afraid that if I don't get a mentor I'll never do a deal based on my comfort level.

    Is anyone else in the same boat? Did anyone pay for mentors to start off?

    Drew  

    Why don't you....

    bird-dog for a wholesaler, find leads for others

    Drive for dollars, 

    get your real estate license, or Be a realtor's assistant, develop a good listing presentation, 

    learn creative financing like subject to existing financing, lease with option, Lease purchase, JVs for rehabs, JVs with home sellers on minor rehabs

    learn your tenant landlord basic laws and leases, 

    find a good contract attorney, 

    learn private lending and how IRAs can be used for private loans, 

    get three business cards, 

    I buy houses any condition for Wholesaling sellers, 

    stop paying rent free report on Rent Own, drive to a webpage, 

    and 

    learn how to get 6% steady income on your investments through real estate IRAs, free report

    This business is about talking to people, ask good questions

    Good luck!

    2Reply
  • Fernando G.
    Investor · Avondale, AZ · Member since 2015 · 36 posts · 0 votes
    10y

    Drew,

    BP is a great site and has many tools we use day in day out.  Having said that you should not rely on 1 avenue only.  We use BP, also belong to the AZREIA and have found many resources there as well.  You have the right idea about using the $20k investing in deals rather than paying for a seminar.  But you have to invest in the right deal with the right people.  If you have questions or are TRULY interested in investing connect with me and send me a private message.  We are active RE investors and can take the time to answer your questions if you are SERIOUS about this business because i'm sure you don't want to waste your time as we don't want to waste ours. If you want to learn more or have questions give me a call.

    0Reply
  • Wendy Black
    Investor · Phoenix, AZ · Member since 2014 · 230 posts · 122 votes
    10y

    AZREI is a very active group.  Totally worth joining.  There's always something going on.  The Phoenix Real Estate Club is another $20 now, I think.  A related group.  We joined last year.  

    0Reply
  • Matt Greer
    Real Estate Agent · Mesa, AZ · Member since 2017 · 230 posts · 169 votes
    4y

    A ton of mentors will try and get you to pay them and they and they usually aren't the best. Their motivation is to simply get your money. I've found from my experience and the experience of a few of my colleagues if you can find a way to both have skin in the game it's the best. So if you want to do a deal find a way to get skin in the game on a more experienced investors project. Maybe help them acquire the deal or help with the work. If they have a financial interest in the deal then they will put more effort into it and you will learn first hand how to do business. A teacher can only give you a framework and can't account for all the different situations that may arise. Once they give their lecture they are done with you.

    0Reply
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