Don't Understand Everything? Don't Worry!

I am writing this post from a beginner's perspective.

Have you ever gone to a talk, especially about real estate, and it seemed like you didn't understand everything?

I can't speak for anyone else, but this happens to me a lot.

Last Thursday evening, I went to the Oakland REIA. It covered real estate-releated legal updates and advice. A lot of people were saying how great this talk was, and it probably was. However, I could not take advantage of everything she was saying.

So did I waste my time? Other people may disagree, but I say, "NO!"

Why?

Because I understood about 30% of it, I was discouraged, at first. Then I realized that most of what little I understood on Thursday, I would not have understood AT ALL a year ago. Even if you don't know everything, you can learn things an managable increments, little by little. It accumulates quickly.

Plus, it gives me an opportunity to write down a couple of things to look up later. I may not understand during the talk, but I know something that I have to learn. I can learn it at my pace. Even if I don't understand it today, the next time I hear something about it, I will be in a better position to receive that same or similar info.

Lastly, I love meeting people at these events. You get a chance to learn their insights and experiences. Plus, the better people are there to encourage you. One person, in particular, just told me, "Just start." Obviously, you should do your due dilligence before making ANY investment, but it gives me hope that real estate is less complicated than my beginner's mindset might be making it.

So go to as many talks and talk to as many people in the field as you can. You might not understand everything, but you still can get something from it. More importantly, it will accelerate your learning--meaning that it puts you closer to your goal more quickly.

3 Reasons to Go to Local REIA's

This post is for beginners and experienced investors.

Go to your local area REIA's (Real Estate Investment Associations). As the title promises, I'll give you three (3) reasons why you should attend REIA events:

1. Relevant News: They will help keep you current. You might know nothing; you might know a lot. However, you get a chance to hear about new laws, proposals for laws, new techniques, new products, websites, helpful software, classes, etc.

2. Networking: You get a chance to meet people. You never know when you will meet someone who can lead to a buyer, seller, an eventual partner, a vendor, a new idea, or just simply a motivational comrade.

3. Keeps You Moving: An event forces you to commit to spending time developing your real estate investing. After a while, you will see some of the same people, and some of these people will ask you about your progress. There are times that you will need or want this external motivation.

I live in the Detroit Area, and there are several around here. I've been to two (2) of them:

Oakland (County) REIA...http://www.reiaofoakland.com/
Macomb (County) REIA...http://www.reiaofmacomb.com/

While nothing ever is perfect, both of these are very good. Let me know if you have any questions about either of these. Personally, I am more familiar with the Oakland REIA.

For those who are insterested, there are others in Southeast Michigan:

Wayne (Country) REIA...http://www.reiawaynecounty.org/
Genesee (County) Landlord Association...http://www.geneseelandlordassoc.org/
Detroit Real Estate Investor Network (I cannot find a website for this.)
National Real Estate Network...http://www.megaevent.com/

Let me know if you know any others.