AZREIA - An Incredible Place and Opportunity
By Derek Kartchner | Gila Insurance
So, I know it was a month ago, but I am writing this just a few days after AZREIA’s 22nd Anniversary celebration. Happy Anniversary! I have been a member of AZREIA since 2014. Over the years, I have alternated between being a general member of the association and a business partner. Rather than rant and rave about the dire situation in the insurance market or outline coverage that investors often overlook to their detriment, I thought I would share a few reflections from my roughly 10 years with AZREIA and what I have learned from the association and its members.
Education Matters!
Allow me to digress for a moment and share a story about a client of mine. He is Cuban and a nuclear physicist. After being exiled from Cuba, he left with nothing but a rolled-up photo negative, which he kept hidden on his person. He made it to Panama and, over the years, slowly made his way to the United States. When you talk to him, his love for the United States is evident, and he credits his success to hard work and the photo negative that allowed him to improve his situation once he arrived here. Today, he is well off and teaches calculus at a local community college. The point of this story is simple: get an education and use it. I’m not necessarily referring to college but to education in whatever form you can access it. AZREIA is an incredible vehicle for such learning. I have attended more than 100 AZREIA presentations. Most focus on different aspects of investing, while others are about self-improvement—but in every case, there is something actionable to take away. I have witnessed numerous people join AZREIA as new members, take a class, and within 12 months, transform their lives. Read that again. They acquired an education, valued it, and acted.
Act!
Warren Buffett was once asked what his greatest mistake was. His response was not that he invested in something and lost $10 billion, but rather, “The biggest mistakes I've made by far are mistakes of omission and not commission.” In other words, his losses weren’t from investments that went bad but from opportunities he knew enough about and should have seized but did not. He estimated that these missed chances have cost him tens of billions of dollars. This leads us to a couple of assumptions in this formula:
You know enough.
You have the capability to act.
One important thing I’ve learned is that while capital is necessary for real estate investing, it doesn’t always have to be your own. I’ve often heard members during “Haves and Wants” say, “I have some money I would like to put to work.” What an opportunity! Of course, that investor will only put their money into the right opportunity, but when combined with your AZREIA education—boom—you’re well on your way to success.
Network!
Over the years, I have been continually amazed by the generosity of AZREIA members. More than once, I’ve heard a deep baritone voice say, “I’ve learned a few things over the years, and if I can help you avoid the lumps I’ve taken, then I’m happy to help. I’ll walk a property or review numbers—whatever I can do.” If you don’t know Dean Leonard of the Tucson Chapter, trust me, he means it. But he’s not alone; others have echoed similar sentiments. There’s no expectation that you walk this journey alone. I’ve seen many successful joint ventures, as well as some that didn’t work out. As Alan Langston used to say at the beginning of every AZREIA meeting, that “adult slide” is serious business.
In short, AZREIA is a remarkable place where incredible things happen and where amazing people take steps to improve their lives. As you look ahead to 2025 and start setting your goals for the new year, make sure AZREIA is at the forefront of your plans. Learn how to invest, find the methods that fit you and your style, gain an education, and then ACT. Set goals, pursue them, and remember that you have an entire community behind you—not just cheering you on, but willing to walk that path with you.