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Join REIN or wait?

QUOTE (thomasbeyer2000 @ Jun 3 2009, 08:20 PM) join if you are prepared to take ACTION .. based on some cash and some interest and some knowledge .. it will teach you where to invest and how .. and where not to .. and how to raise JV money once you`ve done a deal or better: 3 or 4 ..

do not join if you are looking for "edutainment" only ..


Thomas... I`m new to this site and real estate from an investment standpoint in general. I would like to join REIN, and am ready to take action, however, what are some things to know or perhaps a position to be in where I could leverage the membership better? A pre-requisite perhaps..... or do people recommend just jumping in and working hard at it, which I`m fine with.

edit: I just read gwassers message above and that gives me some insight...

Thanks,

Chad
 
QUOTE (Chad @ Dec 13 2009, 09:41 PM) Thomas... I`m new to this site and real estate from an investment standpoint in general. I would like to join REIN, and am ready to take action, however, what are some things to know or perhaps a position to be in where I could leverage the membership better? A pre-requisite perhaps..... or do people recommend just jumping in and working hard at it, which I`m fine with.

edit: I just read gwassers message above and that gives me some insight...

Thanks,

Chad

It truly comes down to what you are willing to put into something. If you want to get into the game and are serious about this as a profession, dont let fear get into your way. You already know the answer. Just one good deal.......is all it takes.... can pay for this membership for years. I started buying aimlessly years ago without strategy or plans. I truly wish I would have become part of this network years prior as it would have saved me much time and money. It cost me tens of thousands. You will always find a reason not to do something. Mostly based out of fear. If you truly want this as a career path, it is a no brainer.
 
Going forward you need to understand it takes money to start. Many people believe they can get started investing without cash. Although this is possible it is rare to start with empty pockets.It also requires a good paying steady job to provide cash support until such time as you are stable and your investment can support itself.
And finally it takes hard work. In the beginning to truly make money you must be prepared to get your hands dirty and spend some stressful times dealing with money, tenants and long hours.
Remember you have taken on a second job.

Or you can turn your investment over to a PM and cross your fingers. Not something I would recommend.

I believe for first time investors the two most important things to do are learn and understand the RTA before you have your first property and self manage your first few properties while you still have the available time.
 
QUOTE (invst4profit @ Dec 14 2009, 06:37 AM) Going forward you need to understand it takes money to start. Many people believe they can get started investing without cash. Although this is possible it is rare to start with empty pockets.It also requires a good paying steady job to provide cash support until such time as you are stable and your investment can support itself.
And finally it takes hard work. In the beginning to truly make money you must be prepared to get your hands dirty and spend some stressful times dealing with money, tenants and long hours.
Remember you have taken on a second job.

Or you can turn your investment over to a PM and cross your fingers. Not something I would recommend.

I believe for first time investors the two most important things to do are learn and understand the RTA before you have your first property and self manage your first few properties while you still have the available time.

This is so true! Although some of us have started with Joint Venture money from friends and family, you should ask yourself whether you can sleep at night when your unit(s) is(are) vacant for two months or you don`t know how to fix something. REIN will give you some support but still you need somehow the financial means to get throught such times.
 
QUOTE (Chad @ Dec 13 2009, 09:41 PM)
Thomas... I'm new to this site and real estate from an investment standpoint in general. I would like to join REIN, and am ready to take action, however, what are some things to know or perhaps a position to be in where I could leverage the membership better? A pre-requisite perhaps..... or do people recommend just jumping in and working hard at it, which I'm fine with.



edit: I just read gwassers message above and that gives me some insight...



Thanks,



Chad


you need some cash or access to cash or friends/family with cash. You need time to look for deals and team members (lawyers, realtors, property managers, accountants ..) and you need a DESIRE to act and better your life so you can eventually fire on all 5 cylinders as described here:





5 ways to make money http://myreinspace.com/public_forums/General_Discussion/61-3347-5_ways_to_make_money.html



How to get started http://myreinspace.com/public_forums/General_Discussion/61-4391-How_to_get_started_.html
 
QUOTE (gwasser @ Dec 13 2009, 06:12 PM) I deduct them. But I am not an accountant, ask your own accountant.

To be somewhat forward, I have seen this question regarding REIN membership now so often on this forum I really wonder whether the people that ask this question have a problem to take action or to make a commitment?

As such, I can say only one thing: If you are committed to becoming a real estate investor, becoming a REIN member is your best education and support. So, first take your ACRES or QUiCK start weekend, make up your mind whether you want to become a real estate investor and if the answer is affirmative, then take action and sign up - your first step on the road of a genuine commitment.

One of the first things Don`s books teach is to ask `Whats behind the curtain?` Seems like the perfect statement for someone to make if they are trying to gain your confidence. I had the `honour` to attend a free Rich Dad seminar recently and was slathered with all kinds of goodwill inducing secrets. `Wow, these guys are going to make me rich.` Not. We all know what sort of success that attitude will get you.

I have been lurking on this forum for about 3 months now and have become somewhat more comfortable that i will get value for my money. Not quite there yet, but almost... I am however taking action and was to close on a property on Dec4. The seller however waited until the day before to present fire and ESSA and they were 5 years old. I forced them to go back and get current as I asked what was behind the curtain.

There are a lot of alternative groups out there and they all have their proponents. I think it is understandable for people to kick the tires a bit as us new people are very tight on our cash flow situation. $3500 is the cost of 6 university level courses to become a licensed real estate appraiser for example. One could argue that that would be of equal or greater value.

I am not disagreeing that action need to be take to make a change (we all know the definition of insanity right?) but there is more than one path.

Mike
 
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