My first Real Estate Investors Association/Club experience:
Hello DG family,
At this point in time I feel that I NEED to post my progress online because I'm getting deeper into this real estate business thing and I'm lost and I need help, but I will still venture on and see what will happen.
We last left off with me trying to find a buyer for the property that I'm about to have under contract which meant me going to our state REIA to network but my partner backed out at the last minute.
Continuation: Well my partner decided to join back in(probably because we're college students on summer break with not much to do, I don't know.) and we had another partner join us as well to go to the REIA. The meeting was in the mid-afternoon til night so until then I wanted to make more offers on properties so we can get more experience with phone etiquette when talking to agents and homeowners(We're still trying to get a hang of that as well).
The REIA: That was an interesting experience to say the least. It was kind of what I expected but smaller scale and a different location and less people in business suits but everything else was similar to what I thought it would be. It was in a hotel so when my partners and I first entered we thought it was very quaint. Since we were first time guests we registered to join and we received folders with information real estate related and tickets to come again for free one more time. We entered the lobby and there were quite a few people there, not many but quite a few nonetheless. Since we're new there's a natural hesitation on our part to engage in conversation and network but we knew that time was of the essence and it was pivital to network. We get refreshments and we take our seats in the offical seating area. We talk a little bit about the scene we're in and the fact that eventually we have to network. I'm nervous at this point and I excuse myself to use the restroom and when I return my partners are socializing with people. I make my way over to some members and start networking. In the end I don't think we've spoken to more than five people each, to me I feel like those are disappointing numbers but hopefully next time will be better, there was one hour to socialize and network then the actual meeting presided. The president spoke for a while giving introductions and such, then there was 20 minutes of "haves/wants" which was basically people stating their current business proposals to the whole group from advertising legal services, property management to actual deals they had going. Highly astonishing and surprising I have to say, which is what gave me tremendous personal doubt in this business, thus the first concern I stated in the beginning of this post, because these people were professionals and experts with licenses and the whole shabang, and my associates and I are just college students with little knowledge, I felt like we didn't belong. After the "haves/wants" section the official business meeting started. There was a guest speaker, a real estate lawyer, that spoke of what he did then he and the president talked about foreclosures/short sales and the like in general and people asked questions, they answered. That night was a Q&A meeting which was basically a free for all night, highly generalized. They went off on tangents related to real estate of course from chapter 11/13/20 to shady activities the banks are doing that the public don't know about(my notes aren't on my person at the moment so I have to give a broad overview of the topics) and claiming expensive vehicles as business related expenses. The majority of the topics steered towards legal related situations such as claiming a single person business as a LLC or a S/C corporation thus my parters and I couldn't relate. After a hour and a half I believe of attending the actual meeting, my partners wanted to leave(mostly because of boredom, fatigue and acknowledgment of the long drive home) so we left, I had to accompany them because they were my transportation. I would have stayed had I possessed personal transportation, when I attain a vehicle I will do as such but that is probably an excuse on my part, I was bored as well unfortunately for me.
Aftermath: I feel that I know more yet simultaneously feel that I'm in way over my head in this venture. I'll continue this on a regular basis to see how it pans out, who knows, when I'm able I might just join this association officially besides just using the free ticket haha. It's not much, just 25 a month or 250 a year(Well the monthly isn't anyway, but I guess it evens out in the annual fee's favor long term )
I guess in the end, I just feel small here and I'm just searching for a voice that desires to be heard.
Hello DG family,
At this point in time I feel that I NEED to post my progress online because I'm getting deeper into this real estate business thing and I'm lost and I need help, but I will still venture on and see what will happen.
We last left off with me trying to find a buyer for the property that I'm about to have under contract which meant me going to our state REIA to network but my partner backed out at the last minute.
Continuation: Well my partner decided to join back in(probably because we're college students on summer break with not much to do, I don't know.) and we had another partner join us as well to go to the REIA. The meeting was in the mid-afternoon til night so until then I wanted to make more offers on properties so we can get more experience with phone etiquette when talking to agents and homeowners(We're still trying to get a hang of that as well).
The REIA: That was an interesting experience to say the least. It was kind of what I expected but smaller scale and a different location and less people in business suits but everything else was similar to what I thought it would be. It was in a hotel so when my partners and I first entered we thought it was very quaint. Since we were first time guests we registered to join and we received folders with information real estate related and tickets to come again for free one more time. We entered the lobby and there were quite a few people there, not many but quite a few nonetheless. Since we're new there's a natural hesitation on our part to engage in conversation and network but we knew that time was of the essence and it was pivital to network. We get refreshments and we take our seats in the offical seating area. We talk a little bit about the scene we're in and the fact that eventually we have to network. I'm nervous at this point and I excuse myself to use the restroom and when I return my partners are socializing with people. I make my way over to some members and start networking. In the end I don't think we've spoken to more than five people each, to me I feel like those are disappointing numbers but hopefully next time will be better, there was one hour to socialize and network then the actual meeting presided. The president spoke for a while giving introductions and such, then there was 20 minutes of "haves/wants" which was basically people stating their current business proposals to the whole group from advertising legal services, property management to actual deals they had going. Highly astonishing and surprising I have to say, which is what gave me tremendous personal doubt in this business, thus the first concern I stated in the beginning of this post, because these people were professionals and experts with licenses and the whole shabang, and my associates and I are just college students with little knowledge, I felt like we didn't belong. After the "haves/wants" section the official business meeting started. There was a guest speaker, a real estate lawyer, that spoke of what he did then he and the president talked about foreclosures/short sales and the like in general and people asked questions, they answered. That night was a Q&A meeting which was basically a free for all night, highly generalized. They went off on tangents related to real estate of course from chapter 11/13/20 to shady activities the banks are doing that the public don't know about(my notes aren't on my person at the moment so I have to give a broad overview of the topics) and claiming expensive vehicles as business related expenses. The majority of the topics steered towards legal related situations such as claiming a single person business as a LLC or a S/C corporation thus my parters and I couldn't relate. After a hour and a half I believe of attending the actual meeting, my partners wanted to leave(mostly because of boredom, fatigue and acknowledgment of the long drive home) so we left, I had to accompany them because they were my transportation. I would have stayed had I possessed personal transportation, when I attain a vehicle I will do as such but that is probably an excuse on my part, I was bored as well unfortunately for me.
Aftermath: I feel that I know more yet simultaneously feel that I'm in way over my head in this venture. I'll continue this on a regular basis to see how it pans out, who knows, when I'm able I might just join this association officially besides just using the free ticket haha. It's not much, just 25 a month or 250 a year(Well the monthly isn't anyway, but I guess it evens out in the annual fee's favor long term
)
I guess in the end, I just feel small here and I'm just searching for a voice that desires to be heard.
Thank you,
Mad.Money