One of the first things I did when I was thinking about getting into real estate investing was to start going to the Memphis Investors Group (MIG). MIG is your local REIA group here in Memphis. REIA stands for Real Estate Investors Association and nearly every major city has one. I am still very active with MIG today, even after almost ten years of successful real estate investing.
When I was a newbie, MIG offered great speakers, courses and programs that really helped me get started. I can recall attending several Saturday workshops on subjects like landlording, rehabbing, flipping properties, income taxes, business structure, business systems, private money and many more.
Yes, I am a lot more experienced now but I still go to MIG meetings. Here is why:
- Networking – I get to talk shop with many other local investors. Plus I meet new people, such as contractors and other professionals that help my real estate business.
- New Friends – I have met many, many new friends that I otherwise would not have.
- Advice – Many of these new friends have decades more experience than I do. They have experienced and solved the problems I am dealing with today that are new to me. Their advice is only a phone call away.
- New Ideas – MIG brings together a variety of real estate entrepreneurs. It is great to talk with these folks and share ideas and come up with new ones.
- Local Issues – MIG has an active governmental affairs committee that keeps me informed of local and statewide issues that could affect my business that I otherwise may not find out about until it was too late. Plus, when the government is involved, there is power in numbers. MIG gives me the numbers.
- Education – I still like to attend many of the educational programs. Just one or two new techniques could make or save me thousands of dollars!
- Camaraderie – Most investors often work alone and we are not able to gather around the water cooler and commiserate for a while. MIG gives me a sympathetic ear.
- Deals – I have signed real estate contracts in the back of the meeting room.
There are a lot of sources of real estate education out there. But there is nothing like being able to interact with other local investors. So if you are serious about becoming a successful and ethical real estate investor here in Memphis, TN, join MIG today!