Putting a Real Estate Investing Joint Venture School - Need Help

29 Replies

Hey BP Nation - specially those based in Chicago:

I am putting together a "Real Estate Investing Joint Venture School".

It's my anti-dote to the guru "education". It's FREE and only active BP members can teach in this school. It's like having the BP Podcast but it's LIVE - in a classroom setting. There's no pitch. No BS. Just real life real estate investors sharing their know-how with other investors.

How do we profit with this and why would busy real estate investors be interested in teaching others?

The answer: through creation of JOINT VENTURE opportunities.

When I started "opening the kimono" and get people to look inside what goes on in my real estate business, that's when I started doing joint ventures with BP members. I shared the GOOD, Not-so-good and even my stupid mistakes that I commit even to this day. But instead of losing out because I teach away my know-how, I gained a lot through the JV opportunities that came up. In fact the profit in my real estate business DOUBLED in 2015 vs. 2014.

Here's the forum thread that started it all:

Real Life of a Real Estate Investor

I followed it up with Year 2 of The Real Life series - $1M Profit in 12 Months Goal

And I've decided to post it in separate forum post every week. Here's the latest post:

Week 26 Towards $1M in 12 Months

Going back to this school, it will be done every week (just like the BP Podcast) - every Tuesday at 6:30 PM. It will be "face-to-face" or live for Chicago-based investors but it will be online for investors outside Chicago. It will be held first in my office in Downers Grove and as the class grows, we'll get a bigger venue.

So, the help I need from you BP Nation, specially those based in Chicago and its suburbs are two things:

1. What topics you want to learn from experienced investors to teach in the "School"?

2. Who are the professors you recommend (again, these have to be experienced real estate investors who are BP members)?

I will do the first four sessions. The topics I will talk about are the following:

September 29 - Real Estate Financing 101: The Three Types of Lenders You Need to Buy Houses

October 6 - Real Estate Flipping 101: How to Rehab Houses (with Before and After Pictures and Get My Repair Calculator!)

October 13 - Real Estate Landlording 101: How to Screen Tenants (get my Tenant Application Form and a list of tenant "lies" and how to spot them)

October 20 - Real Estate Landlording 101: Rent to Own Basics (why I make MORE money with rent to own vs. rehabbing!)

So, who wants to recommend a TOPIC and a TEACHER?

Thanks in advance!

Great idea @Wendell De Guzman and I can see you having tons of students so much so that you may have to turn away some people. This may just be in the brainstorming stages right now but are you looking to get registration going by 2016 Spring or Fall? I've always said that if it weren't for the seriously frigid temperatures I would've relocated to the Chicago area some time ago. As usual with your threads, Wendell, I will follow this. :-)

Kudos,

Mary

@Wendell De Guzman :

This is a super cool idea and I am excited to attend this 'School'. Would be a perfect place to learn and connect.

Does it require any registration or would it be just walk-in???

Thanks!

@Wendell De Guzman ...count me in as student. There can always be detailed sessions and perhaps one on ones but I myself would like an "Art of the Deal" course....a A-to-Z blueprint of a deal from beginning to end and how a neophyte can follow the blueprint and apply it for themselves along with some resources they can go to and use. I find that many of the "gurus" lack this.  I'm also thinking of "BP clinics" where a certain subject like choosing a contractor, analyzing a property, different types and ways to market, etc...can be delved into in detail.  I recommend Professor @Brie Schmidt ....

What a great idea @Wendell De Guzman ! I wish I lived closer to you, definitely would have made it. Would you consider video taping this sessions and sharing with the unfortunate ones not living in the Chicago area.

I would like to learn about building successfully teams- interviewing, what to look for, compensation, training, etc. and I recommend Brie Schmidt, J Scott, or Lisa Phillips.

I'll be following along.

@Wendell De Guzman ,

I like the idea, being affiliated with a real estate "school" myself. Some recommendations on how to vet your "teachers" and the material they present:

1. "The Proof is In the Pudding"

Make sure your teachers either are making $1M/yr doing what they teach or at least have made $1M lifetime doing what they teach. Proven strategies will always be winners. Those are the among the criteria of the "school" with which I am affiliated.

2. Stay Within the Law

Remember to vet your teachers' material carefully. Big problems can arise if they're giving - or are construed as giving - legal or financial advice in the course of their classware.

3. "Repetition is the Mother of Skill" (Tony Robbins)

You'll want to provide on-line recordings of the classes so students can review as needed.

I've seen (but am unable to cite/quote at this time) studies indicating that as adults we have roughly a 7% retention of material we see/hear once; yet, by the 7th repetition we can retain as much as 85% or more. Having recordings available for review will be a really big plus!

I offer myself as evidence. Although it's not RE related, and I haven't heard it for years, I can probably still recite from memory the entire 17+ minutes of Arlo Guthrie's "Alice's Restaurant" massacree (with complete orchestration and five-part harmony, and stuff like that and other phenomena)...

4. Americans With Disabilities

If possible, you'll want to offer classes live-streaming so people who have issues getting around can listen via their preferred / most convenient means.

5. Infrastructure

Although I suppose EventBrite might do for enrolling students, you may want to also look into dabble.co (yes, that's WITHOUT the "m" - the TLD is ".co").

6. If you need a venue, I do have a candidate albeit in the western suburbs. Availability is most weekdays and Tuesday, Wednesday and Friday evenings except Friday daytime, and except every 1st and 3rd weekend. I don't own it - you'll need to negotiate with my group leaders for rates, etc. A/V, WiFi and internet are available.

Hope this helps!

Definitely would like to be included in the school. Of course I would have to follow classes online. Thanks for thinking of this great idea. Looking forward to learning, learning, learning! Let me know what I need to do to become a student.

Originally posted by @Mary B. :

Great idea @Wendell De Guzman and I can see you having tons of students so much so that you may have to turn away some people. This may just be in the brainstorming stages right now but are you looking to get registration going by 2016 Spring or Fall? I've always said that if it weren't for the seriously frigid temperatures I would've relocated to the Chicago area some time ago. As usual with your threads, Wendell, I will follow this. :-)

Kudos,

Mary

 Mary, registration is right now. Send me a PM and I will email you the gotomeeting link so you can listen in this Tuesday 6:30 PM. That's the first day of School :-)

Originally posted by @Jerry Stanford :

@Wendell De Guzman...count me in as student. There can always be detailed sessions and perhaps one on ones but I myself would like an "Art of the Deal" course....a A-to-Z blueprint of a deal from beginning to end and how a neophyte can follow the blueprint and apply it for themselves along with some resources they can go to and use. I find that many of the "gurus" lack this.  I'm also thinking of "BP clinics" where a certain subject like choosing a contractor, analyzing a property, different types and ways to market, etc...can be delved into in detail.  I recommend Professor @Brie Schmidt ....

 Thanks for the great inputs and ideas Jerry!

Calling on Brie! Let me know if you want to teach a class :-)

Originally posted by @Zhenya Miteva :

What a great idea @Wendell De Guzman! I wish I lived closer to you, definitely would have made it. Would you consider video taping this sessions and sharing with the unfortunate ones not living in the Chicago area.

I would like to learn about building successfully teams- interviewing, what to look for, compensation, training, etc. and I recommend Brie Schmidt, J Scott, or Lisa Phillips.

I'll be following along.

 Zhenya, I will send you via PM the gotomeeting link so you can join the class online. You don't want to miss the class :-)

Originally posted by @David Dachtera :

@Wendell De Guzman,

I like the idea, being affiliated with a real estate "school" myself. Some recommendations on how to vet your "teachers" and the material they present:

1. "The Proof is In the Pudding"

Make sure your teachers either are making $1M/yr doing what they teach or at least have made $1M lifetime doing what they teach. Proven strategies will always be winners. Those are the among the criteria of the "school" with which I am affiliated.

2. Stay Within the Law

Remember to vet your teachers' material carefully. Big problems can arise if they're giving - or are construed as giving - legal or financial advice in the course of their classware.

3. "Repetition is the Mother of Skill" (Tony Robbins)

You'll want to provide on-line recordings of the classes so students can review as needed.

I've seen (but am unable to cite/quote at this time) studies indicating that as adults we have roughly a 7% retention of material we see/hear once; yet, by the 7th repetition we can retain as much as 85% or more. Having recordings available for review will be a really big plus!

I offer myself as evidence. Although it's not RE related, and I haven't heard it for years, I can probably still recite from memory the entire 17+ minutes of Arlo Guthrie's "Alice's Restaurant" massacree (with complete orchestration and five-part harmony, and stuff like that and other phenomena)...

4. Americans With Disabilities

If possible, you'll want to offer classes live-streaming so people who have issues getting around can listen via their preferred / most convenient means.

5. Infrastructure

Although I suppose EventBrite might do for enrolling students, you may want to also look into dabble.co (yes, that's WITHOUT the "m" - the TLD is ".co").

6. If you need a venue, I do have a candidate albeit in the western suburbs. Availability is most weekdays and Tuesday, Wednesday and Friday evenings except Friday daytime, and except every 1st and 3rd weekend. I don't own it - you'll need to negotiate with my group leaders for rates, etc. A/V, WiFi and internet are available.

Hope this helps!

 Thanks David, you're very helpful.

Originally posted by @Patricia Gemming :

Definitely would like to be included in the school. Of course I would have to follow classes online. Thanks for thinking of this great idea. Looking forward to learning, learning, learning! Let me know what I need to do to become a student.

 Patricia, I sent you via PM the gotomeeting link so you can join online.

Originally posted by @Wendell De Guzman :
Originally posted by @Jerry Stanford:

@Wendell De Guzman...count me in as student. There can always be detailed sessions and perhaps one on ones but I myself would like an "Art of the Deal" course....a A-to-Z blueprint of a deal from beginning to end and how a neophyte can follow the blueprint and apply it for themselves along with some resources they can go to and use. I find that many of the "gurus" lack this.  I'm also thinking of "BP clinics" where a certain subject like choosing a contractor, analyzing a property, different types and ways to market, etc...can be delved into in detail.  I recommend Professor @Brie Schmidt....

 Thanks for the great inputs and ideas Jerry!

Calling on Brie! Let me know if you want to teach a class :-)

 Is it in the suburbs?

Medium second city real estate logo   white close upBrie Schmidt, Second City Real Estate | [email protected] | http://www.SecondCity-RE.com | IL Agent # 471.018287, WI Agent # 57846-90 | Podcast Guest on Show #132

Originally posted by @Brie Schmidt :
Originally posted by @Wendell De Guzman:

Calling on Brie! Let me know if you want to teach a class :-)

 Is it in the suburbs?

 Right now yes.

Great idea @Wendell De Guzman , I would love to take part if possible.

I think that limiting anything to specific area users is useless. For example, Im keen on investing in the U.S, and one of the best ways for me to go about that is too JV with someone with foot on the grounds. I think many foreign investors are looking for the same thing. Obviously, some investors in Chicago are looking for funds for their next bigger deals - win win.

For myself, I'm not looking for 'turn-key' or hands off investments, but to be involved in the process, fly in etc..

Anyway, good luck, and looking forward to seeing progress with this idea!

Originally posted by @Guyoz Golan :

Great idea @Wendell De Guzman, I would love to take part if possible.

I think that limiting anything to specific area users is useless. For example, Im keen on investing in the U.S, and one of the best ways for me to go about that is too JV with someone with foot on the grounds. I think many foreign investors are looking for the same thing. Obviously, some investors in Chicago are looking for funds for their next bigger deals - win win.

For myself, I'm not looking for 'turn-key' or hands off investments, but to be involved in the process, fly in etc..

Anyway, good luck, and looking forward to seeing progress with this idea!

 Guyoz, you can join the school online. I will send you via PM the gotomeeting link. Thanks!

Sounds like a great idea Id love to join also.  Also, any assistance I can offer is a definite.  Please let me know, looking forward to talking with you.  

Originally posted by @Wendell De Guzman :

So, who wants to recommend a TOPIC and a TEACHER?

Recommended Topics:

  • Legal- Recommended Corporate Structures given your business plan & objectives 
  • Fund raising- Syndication/Crowd Funding......
Originally posted by @Crystal Smith :
Originally posted by @Wendell De Guzman:

So, who wants to recommend a TOPIC and a TEACHER?

Recommended Topics:

  • Legal- Recommended Corporate Structures given your business plan & objectives 
  • Fund raising- Syndication/Crowd Funding......

 Thanks Crystal. As always, you have very useful answers and inputs.

Really? only active BP posters can teach? SO a person with dozens of deals and years of experience would be excluded just because they might have more deals than time to sit online? 


SMH... 

@Dale Stevens ,

I do understand your sentiments. I felt the same way at one time. I found, however, that being part of a community opened more doors then simply expecting recognition for my own accomplishments.

The only feedback I can give you is a quote from one of my mentors:

People don't care how much you know until they know how much you care - about THEM!

My $0.02...

Ok so please pardon my earlier post...it was incomplete.  I must start off by saying a BIG THANKS to @Wendell De Guzman for being so open and honest in your blog the Real  Life of a Real Estate Investor.  I actually stopped reading this post, started reading that one, and couldn't stop until got to the end (not including a couple of bathroom/food breaks).  You've opened my eyes to a few different strategies and more importantly have inspired me to keep on going, even when I have a couple of bad/unproductive days, and it just seems easier to give up.  I dont want to get too cheesy/corny, but I really do feel a need to thank you and let you reaffirm the fact that you truly are an inspiration to a lot of people on here.  

 I have also seen the value of documenting my ordeals, both positive and negative, to not only give me a sense of direction and mark when I achieve my goals, but also to aid others who may be going down a similar path.  

In a more complete response to your question:  Again, I love the idea of a local, weekly, meeting/class with like minded people that is NOT focused on just promoting someones new "get rich quick " plans.  In My opinion, Id LOVE to see more classes/discussions on funding, specifically crowdfunding which seems to be the new rage as @Crystal Smith alluded to.  

A topic I could assist with, is labor/material price points, and timelines which seem to be a common hurdle especially for newer investors/rehabbers.  

WOWOW....I HAVE TO SAY AGAIN, Ive been to a lot of guru seminars, webinars, and the like, and there is a lot of BS out there, but you really are the real deal and it was a pleasure to read your blog.  I look forward to hopefully meeting with you sometime soon, and I will continue in your steed to pay it forward, and hope others are inspired to do the same...

Also, ending or beginning the class with a "real life story" based on the past/future lessons would be invaluable.  Any opportunity to see how a seasoned veteran prepares and reacts in the quest for acquisitions would be great!!  

Another Good topic Id personally like to explore is how to determine your acquisition strategy..sometimes you use a JV, sometimes you do a "subject to", sometimes you want to buy/hold, sometimes you go in knowing your gonna wholesale....AND how to work HUD deals would be another great lesson.

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