Hello there, newbee's here. My business partner and I are attending are first real estate inveswtment club, it's suppose to be one of the best in the area. Can anyone offer some advice as to what to say, ask, etc? For the first one should we just stay kinda quite and just take everything in? Any advice would be great! Thank you.
1. Remember that you have 2 ears and 1 mouth for a good reason, you should be listening twice as much as you talk.
2. Don't be a know it all...Even if someone doesn't have a clue what they are talking about don't jump in and correct them.
3. Get experienced investors too open up and talk about their biz. People love to talk about themselves.
4. Look for the person in the room that others seem to graviatate toward and get to know that person. If other see that he/she is chatting with you then you are one step ahead.
I've been struggling as well with the best way to network at reia meetings. It is difficult when you're pretty much just looking for guidance and don't really have anything to offer
Never been to a club meeting, do they discuss any of the following? I been to a meeting sponsor by our City. This has been the most eye opening experience. They had someone from code enforcement talk about code, what will pass inspection and what will not. Someone talk about Fair Housing Law, talk about laws that will keep you out of trouble, type of documents you need to have, how to rephrase your documents so you won't have a lawsuit down the line. Also had an Eviction Lawyer talk about how to properly file an eviction and the common mistakes people make.
I made some great contacts at a REI club. I also made the best contacts at a small investors luncheon but for the life of me now I can't remember how I was turned on to the luncheon..... I want to say it was on a real estate forum like this one years ago.
Just keep going and rubbing shoulders like Eric mentioned. Many of the clubs are about pushing products on you like guru's books and courses etc.... but you can still make some good contacts and learn a ton.
My REIA meeting is tomorrow night with Stu Silvers. Personally, I'm just going to let people know I am a wholesaler putting together a list of interested buyers for my database. Name, phone number, and email address is all I need to shoot out an email with any deals I have available. The other thing I'm going to accomplish is find an investor savvy accountant, good real estate attorney, and hard money lenders.
Sam, after the meeting was over I found the president of the REIA and introduced myself. Talked with him a bit and hit him up for some contacts. I got a contact for an accountant and for a good RE attorney to look at our contracts. I also got a great contact of an investor/RE auctioneer. He was actually the speaker.
Don't be afraid to ask around and talk to people! I love this business because people help people! Good luck and be sure to let us know how it went!
In the past 12 months or so, the REIA I belong to has covered all of the topics you mentioned except for Code Enforcement. The difficulty with that topic is each little town has their own way of doing things, so it's tough to have one person come in and reflect about everywhere. Fair Housing was presented by people from an organization that sends out "testers" in response to ads for housing. Eviction in general was presented by an attorney.
And other topics get covered also. Insurance, and how to handle the situation of insuring "Subject To" acquisitions; REO purchasing; Self-directed IRA and real estate; plus others.
And we get the guru types as speakers as well. On the days they talk, there often is a line of people waiting to part with their money to purchase the product being offered. Once you know this will be happening, you can simply avoid getting in that line if it's not for you.