In How to Safely Invest in Real Estate. Part 2, I mentioned starting a Mastermind Group (MMG). Here are some quick points about that:
- Financial Planner
- Property Manager
- They need to be real estate investors. You shouldn't take advice on the stock market from your unqualified neighbor. Don't listen to them about real estate investing either.
- Provide unique perspective on real estate investing
- Give advice
- Help shape strategy
- Possible source of financing
- The easiest way to start your MMG is with a Realtor who has at least one of these designations: GRI, CRS, CCIM.
- Get referrals from your contacts in the community. Ask them if they know anybody who invests in real estate.
The money runs out before the deals do. Take your time and get it right the first time.