QOTW: How have meetups and masterminds help your business?
Alicia MarksPro Member
Fort Worth, TX · Member since 2020 · 1k+ posts · 2k+ votesQOTW: How have meetups and masterminds help your business?
Most Popular Reply
Lender · CO CA TX WA ID OR · Member since 2020 · 419 posts · 542 votes
4yOutside of jumping into the RE industry as a career, meetups and networking are the most essential step one can take when building business and a portfolio. Seasoned investors like to tell their story and share both their successes and failures to those that will listen - if you're not there, you won't receive this valuable info.
I've found that even if you do not initially participate in the conversations due to your lack of knowledge on a particular subject, continuously showing up and learning reveals to others that you take investing seriously and are willing to do what it takes to succeed. Additionally, the more you learn and the more value you provide (capital, time, or skillset), folks will take a chance on you because you demonstrate your ability to be dependable and resourceful.
As time goes on and the more you learn, deals and opportunities will eventually come to you because you are "in the room where it happened." These meetups and masterminds are the room - if you're not predictably and routinely there, then expect to be left out :)
35 Replies
- 4yRyan WilliamsBusiness MemberReal Estate Broker · Denver, CO · Member since 2022 · 98 posts · 219 votes
Meetups and networking have been very beneficial as I'm still in the early stages of my investing journey and real estate career. More than anything, meetups connect me to likeminded people, and give me insight on how various people implement strategies to find success in their own real estate investments. Rather than going to meetups only to give my sales pitch and try to find potential deals, I have found that being genuinely curious and a learner about different people's strategies and experiences has led to much better conversations and relationships, and those relationships lead to potential deals and referrals. And I've found that if I go to meetups with the intention of learning, I actually learn a lot! lol
I am extremely skeptical of masterminds that charge fees to be a part of them. I feel like the person paying to join the group takes on 100% of the risk, and has no guarantee of return on investment. You essentially pay for access to someones methodology and maybe for them to hold you accountable to goals. I have elected to find free versions of that same scenario. At this point, I would much rather find a couple of mentors or peers who are doing well in my field and ask them the how to's and research from sources online and in books as well. I explored a mastermind for short term rental management and they wanted to charge $15,000 to teach basically everything I had already learned on my own from managing my own Airbnb and from online sources/books. And they had a promise to hold me accountable to my goals. I would rather hire a coach or form a mastermind of my own with people trying to achieve similar goals to keep me on track with my goals than pay $15K for a glorified accountability group.
I'm sure you can find success through these masterminds, and I would love to hear experiences of people who it has worked for, but I think I'll keep going my way for now!
- Lender · CO CA TX WA ID OR · Member since 2020 · 419 posts · 542 votes4y
Outside of jumping into the RE industry as a career, meetups and networking are the most essential step one can take when building business and a portfolio. Seasoned investors like to tell their story and share both their successes and failures to those that will listen - if you're not there, you won't receive this valuable info.
I've found that even if you do not initially participate in the conversations due to your lack of knowledge on a particular subject, continuously showing up and learning reveals to others that you take investing seriously and are willing to do what it takes to succeed. Additionally, the more you learn and the more value you provide (capital, time, or skillset), folks will take a chance on you because you demonstrate your ability to be dependable and resourceful.
As time goes on and the more you learn, deals and opportunities will eventually come to you because you are "in the room where it happened." These meetups and masterminds are the room - if you're not predictably and routinely there, then expect to be left out :)
- Investor · Kansas City, MO · Member since 2020 · 400 posts · 278 votes4y
They've always been great for me, but it depends how much you put into it. If you sit at a table and never talk to anyone you'll end up going home thinking you wasted your time. Make connections, I typically talk real estate for only a small amount of time then start talking about us as people. Collect contact info, and decide who you want to keep in touch with. Add them to some type of CRM or other contact management system, and create follow up tasks for yourself to stay in touch.
Once you are able to get into paid groups, I'd recommend it. The higher the fee, the better the connections you'll make.
- 4yDave Van HornPro MemberFund Manager · Wayne, PA · Member since 2009 · 1k+ posts · 1k+ votes
Both for me and my business these types of networking events have been game changing. I started with my local REIA group (and their subgroups), which has been around for over 30 years. In the beginning when I knew very little about investing, I went to any and every class they offered. They weren't all good but I sure did learn a lot fast.
Then with some friends I started our own monthly meeting group, which involved a dinner component (maybe it was all in our heads but something about breaking bread forges more of a bond between people). This group grew to a couple different cities with thousands of members and it was at that group while interviewing speakers I stumbled across our niche in the real estate business. Running and managing these types of groups and events is a lot of work so it's not for the faint of heart but I really enjoyed it.
Today, I still attend and speak at similar mastermind and meetup events large and small to connect with investors to raise capital, find deals, etc.It would be tough to say the cost is always worth it, but you don't know until you try. (You also get better at sussing out which ones are worthwhile over time and if you attend of these things). Generally what I suggest others do is find out who you want to meet or who you'd like to see speak and go where they're going.
- Fort Worth, TX · Member since 2020 · 1k+ posts · 2k+ votes4yThis is gold! Show up, offer what you can, and stay connected!
Quote from @Erik Browning:
Outside of jumping into the RE industry as a career, meetups and networking are the most essential step one can take when building business and a portfolio. Seasoned investors like to tell their story and share both their successes and failures to those that will listen - if you're not there, you won't receive this valuable info.
I've found that even if you do not initially participate in the conversations due to your lack of knowledge on a particular subject, continuously showing up and learning reveals to others that you take investing seriously and are willing to do what it takes to succeed. Additionally, the more you learn and the more value you provide (capital, time, or skillset), folks will take a chance on you because you demonstrate your ability to be dependable and resourceful.
As time goes on and the more you learn, deals and opportunities will eventually come to you because you are "in the room where it happened." These meetups and masterminds are the room - if you're not predictably and routinely there, then expect to be left out :)
- Investor · Las Vegas, NV · Member since 2020 · 153 posts · 136 votes4yMasterminds have been essential to my growth! Don't know what you're missing until you meet with people who are doing it bigger than you. If anyone is masterminding in Las Vegas, let me know.
- 4yEverest HarkeyPro MemberRental Property Investor · Colorado Springs · Member since 2020 · 29 posts · 19 votes
I've found meetups to be very beneficial in solidifying my knowledge of different real estate tactics and strategies. Whether it's virtual or in-person, there's always new information to uncover. The other great thing about meetups is the ability to network with like-minded people but diversified investors. One of my favorite things about them is the motivation it brings, being able to recognize that we're all investors in the same market-style makes it easier to keep going when things are tough. Also being surrounded by like-minded professionals creates an atmosphere you almost can't get enough of as the knowledge is endless. I've found meetups using BP and the app Meetup, both of which are awesome, you can search for meetups in your local area or expand the search.
- Attorney · Houston · Member since 2022 · 84 posts · 116 votes4y
Networking is like the gym. Show up, get involved. The more you do, the more results you see. I like to be in the mind set of "these people are my future friends and possible business partners" it's less intimidating going with someone you know. I like to go with my law partner or a friend.
- Nancy Truong, Texas Attorney at Walter & Truong PLLC
- Rental Property Investor · Columbus, OH · Member since 2019 · 11 posts · 11 votes4y
Meet ups can sometimes sound scary to those fellow introverts, so the best advice I can give is to always be asking questions. People in the real estate space are always listening to podcast and reading books. This means we always hear about others deals, but rarely get to talk about our own. If you go to a meet up and just start asking about someone’s last deal, then you are going to get a lot of knowledge and confidence that you can do the same!
- Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes4y
Quote from @Alicia Marks:
Welcome to our Question Of The Week!
Many newbies are always asking how they can get started, and I will without a doubt say "join a meetup"! Let's talk about how meetups have benefited you, where you found one, and how it helped you grow.
For those of us with a few deals under our belt, let's talk leveling up. Have you ever joined a mastermind? How did you evaluate which one was right for you? Was the cost worth it? How did it help you level up?
Let's talk about growth! Share your thoughts here!
I started my networking journey at The Ohio State University. They had a great mentorship program, a lot of meet ups, and every professor in my major had great experience in RE. I still keep in contact with my mentor from the program and I still attend those meet ups. I have also found great meet ups through BP and Facebook. I enjoy going to networking events. RE is one of my passions, so getting to go to a event where we get to talk about it the whole time is a blast. I have meet so many wonderful people that I have been able to do deals with or just learn from.
- Investor · Multiple · Member since 2019 · 175 posts · 150 votes4y
I am thoroughly grateful for the mastermind I am apart of. As an active duty Marine, I am apart of 'From Military to Millionaire' mastermind called the War Room. It allows me to share my successes, failures, and struggles with fellow military members who have experienced those same situations. I have also seen deals, partnerships, and financial growth in the same mastermind. My squad consists of 5 other veterans, we meet every Saturday morning (05 PST for me). We have been meeting for over four years.
I am also starting a RE meetup here locally where I am stationed in California. I think it's so important to get around likeminded people trying to better themselves and the world around them.
- Lender · OH · Member since 2022 · 113 posts · 77 votes4y
Networking events have been working really well for me but not too familiar with masterminds yet, I hear some are hit and miss and kind of cliquey at times. But organic networking will never steer you wrong is what I know
- 4yScott TrenchPro MemberRental Property Investor · Denver, CO · Member since 2014 · 2k+ posts · 6k+ votes
I joined a mastermind group (free of course) back in 2014 with a group of local investors. I was 23, had no income, no assets, and they had no business admitting me to their group. However, I was grateful to be there. I took every one of them out to lunch to learn about their stories, and they welcomed me graciously.
One of them facilitated an introduction to Josh Dorkin, founder of BiggerPockets, which got me my job here.
One of them drew a "map" of all the promising areas (in his opinion) of Denver, and then walked through my first property when I had it under contract, assuring me that it was a great buy and that no, I did not need to immediately replace the roof, despite the inspector's warning.
This was INVALUABLE to me in getting started. I'd encourage anyone and everyone to join a program like this. And the best ones will be free, small, and filled with people who are serious and committed to improving their lives.
- Investor · Jefferson City, MO · Member since 2020 · 190 posts · 178 votes4y
I always hear 'go join a local meet up! its so easy!' except it isn't because there was a local meet up but it stopped because of low attendance. I'm sure others have this same issue
joining a mastermind group has been MASSIVE for me. being able to chat with, bounce ideas off of and act like a sponge and absorb everything people are saying has propelled me forward.
- Investor · Jefferson City, MO · Member since 2020 · 190 posts · 178 votes4y
Quote from @Scott Trench:
I joined a mastermind group (free of course) back in 2014 with a group of local investors. I was 23, had no income, no assets, and they had no business admitting me to their group. However, I was grateful to be there. I took every one of them out to lunch to learn about their stories, and they welcomed me graciously.
One of them facilitated an introduction to Josh Dorkin, founder of BiggerPockets, which got me my job here.
One of them drew a "map" of all the promising areas (in his opinion) of Denver, and then walked through my first property when I had it under contract, assuring me that it was a great buy and that no, I did not need to immediately replace the roof, despite the inspector's warning.
This was INVALUABLE to me in getting started. I'd encourage anyone and everyone to join a program like this. And the best ones will be free, small, and filled with people who are serious and committed to improving their lives.
suggestions or places for aspiring investors to look for finding these type of groups?
- 4yScott TrenchPro MemberRental Property Investor · Denver, CO · Member since 2014 · 2k+ posts · 6k+ votes
I'd attend the local meetups in your area and talk real estate with everyone you meet!
- 4yJoe HomsBusiness MemberFlipper · Mission Viejo, CA · Member since 2014 · 2k+ posts · 1k+ votes
I started my meetup in Orange County, California about 8 years ago. Still at the same place, even through Covid and on Zoom. My goal was to furnish a place for like-minded investors to network on a monthly basis. The basic idea was to provide a free location with no fees to join or membership. To provide free knowledge about Real Estate Investing so that everyone can benefit from each other's experiences. My meeting location holds about 70 people, and the room is packed each month. What I see is that people come to the first meeting and enjoy the room and atmosphere, that's the feedback I get, but then never show up again (is it me?) Like I aways tell everyone, "You will get out of this what you put in."
Good Investing...
- 4yYonah WeissPro MemberCost Segregation Expert and Investor · Lakewood, NJ · Member since 2017 · 1k+ posts · 1k+ votes
In person events are the best, but something really interesting happened when covid hit a couple of years ago. Everyone was stuck at home. That's when many people, including myself started 'virtual' zoom meetups. We thrived. The best part, you could network and meet people from all over the country doing different things in real estate. To this day, I still keep it going every week, with a guest speaker on a different topic. We have breakout rooms on zoom which allows people to interact in small groups of 3-4, and really get to know each other week after week.
I have attended about a dozen such meetups with different groups from TX to WA, NY and FL and everywhere in between. Your "network is your net worth".
I have seen people partner up, do deals together, and even get jobs through the meetup.
On the other subject of masterminds, I am all for them, it just takes time to figure out which one will best align with your goals.
- 4yErin ChurchPro MemberReal Estate Agent · North Augusta, SC · Member since 2017 · 254 posts · 233 votesThere is a lunch I go to every Friday in North Augusta that is a small group of investors. One of the guys there talks about passing the "show up test". It's totally true! The first time I went, folks were friendly, but the 10th time I went, I feel like they were taking me more seriously. Honestly, I probably am the same way to new folks. I'm friendly, try to help them (answer questions, share resources, etc), but when they're showing back up week after week, I begin thinking they're going to take some action at some point. :)
Quote from @Erik Browning:
Outside of jumping into the RE industry as a career, meetups and networking are the most essential step one can take when building business and a portfolio. Seasoned investors like to tell their story and share both their successes and failures to those that will listen - if you're not there, you won't receive this valuable info.
I've found that even if you do not initially participate in the conversations due to your lack of knowledge on a particular subject, continuously showing up and learning reveals to others that you take investing seriously and are willing to do what it takes to succeed. Additionally, the more you learn and the more value you provide (capital, time, or skillset), folks will take a chance on you because you demonstrate your ability to be dependable and resourceful.
As time goes on and the more you learn, deals and opportunities will eventually come to you because you are "in the room where it happened." These meetups and masterminds are the room - if you're not predictably and routinely there, then expect to be left out :)
- 4yAlex BreshearsBusiness MemberLender · Springfield, MO · Member since 2020 · 351 posts · 504 votes
I would caveat this statement with you need to have a purpose for joining a meet up or mastermind. While I find them both beneficial, you really need to be in the right room for the right conversations. I firmly believe everyone can teach you something, but also realize that there are various stages of life or your business. If you have an established business, joining a new entrepreneurs group might not be as impactful (unless your business has something to do with these new business owners). Personally, I don't look for masterminds with a super narrow focus usually, as I get ideas from other industries outside of real estate. I would prefer to network with people in the narrow focus, but be around a group that is a bit broader, such as business owners, maybe women investors, mindset coaches etc. For me the biggest growth happens on myself, so mindset and having a solid foundation is paramount before you start learning all the technical ins and outs of whatever you are going after. You have to believe to achieve!
- 4yLeslie WolfePro MemberBrand Growth Marketing Manager at BiggerPockets · Member since 2022 · 4 posts · 11 votes
Speaking of meet-ups! BiggerPockets Bootcamps are now live for the fall. A huge benefit of these Rookie cohorts is the networking and accountability aspect. I'm joining the STR bootcamp! You can see which courses being offered and get registered here.
- 4yAndrew JamborPro MemberWallingford, CT · Member since 2014 · 69 posts · 13 votes
When I first got into real estate, it was through books like Rich Dad Poor Dad. I started talking about Real Estate with others and then met my current business partner while he was fixing my sink and were talking about real estate. From there, we joined the local REIA, took classes there, and networked with others. We made some good connections there, which helped us tremendously. Word of caution with REIAs. Go more for the networking and information, but don't get sucked into the pitches. Many guest speakers brought into the one we are members of are looking to sell their "system" to you. You can listen to the talk because you will usually learn something, but you don't need the system they are pitching most of the time.
I'm all for attending local meetups, as most here have mentioned but also talking about your interests freely to others (you never know who is listening). If you don't have a local meetup, start one. There are many ways to do this. I'm more of a meet-in-person type, but virtual can also be great (especially if you are looking at other markets to invest in). Your mind is the main factor here. If you want to achieve something and believe it in your heart, you will make it happen.
- 4yLuther Wilson IIIPro MemberReal Estate Broker · Kansas City, MO · Member since 2017 · 536 posts · 292 votes
It’s certainly helped open some doors for us! Access to more deals, getting referrals for good contractors and exchanging knowledge about things going on in that market - all has been beneficial. Most events will have some type of speaker or multiple ones… So there’s the learning aspect as well - just by being around you’ll pick up tips on how to sharpen and refine your systems, what type of marketing is working well, how to improve business operations and lots more.
- Accountant · Lexington, KY · Member since 2019 · 100 posts · 66 votes4y
Quote from @Alicia Marks:
Welcome to our Question Of The Week!
Many newbies are always asking how they can get started, and I will without a doubt say "join a meetup"! Let's talk about how meetups have benefited you, where you found one, and how it helped you grow.
For those of us with a few deals under our belt, let's talk leveling up. Have you ever joined a mastermind? How did you evaluate which one was right for you? Was the cost worth it? How did it help you level up?
Let's talk about growth! Share your thoughts here!
Meetups & masterminds have been huge for me! I love meetups because they are a hub for knowledge sharing and everyone is looking for services to help with their real estate businesses.
I’ve found property managers, contractors, agents, wholesalers… you get the point, that have all helped with my goal to build passive income through real estate!
I've also earned many bookkeeping clients through meetups by telling people what I do! It is my favorite form of marketing and has a very high ROI!
For masterminds, I know there are some that cost money but you can also make your own with other people in your network that are crushing it. I love our weekly meetings because everyone is achieving their goals which keeps me accountable and lights a fire. I’ve achieved things this year I could not have dreamed just by surrounding myself with ambitious people!
- Bulawayo, Zimbabwe · Member since 2015 · 1k+ posts · 253 votes4yNetworking, masterminds are worth it as one can find investors, lenders, sellers(wholesalers etc), buyers (landlords) all which develop ones business.learning of other successful investor's reference points, mindset for deals also elevates my thinking.
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