Anything I Should Know Before First REI Meetup?

Question

Hey BP community,

Attending my first REI meet up tonight. It is the Chester County, PA subgroup for DIG (DIG Page).

I am brand new to the world of REI, have yet to invest myself, but I have plans laid out to get that going.

My main goal for the meeting is to meet others involved in REI in my area.

Is there anything I should know about these meet ups before going? Anything you wish you know/brought before going to your first meet up?

Admittedly, I am a bit nervous, being completely new to REI; however, I am excited to make some concrete steps towards furthering my journey in real estate!

Thanks,

Noah

Brian Adams · Answer

@Noah Scott with networking I have found that "quality" is better than "quantity".

Some people have a goal in these types of settings to collect as many business cards as possible.

What I suggest you do is write down 1 or 2 things that you need right now in your business. Is it deals, dollars, mentor, resources, attorney, title, insurance, whatever your top items are...

When you get in the room, seek out the quality, meaningful relationships that will help you move your business forward. So in the end you might only have a couple business cards, but hopefully they will be the best connections for you.

Finally, and this is super important, make sure you have a system or process for what you will do after tonight. Once you have the contact information, send an email, write a hand written note, give a call to follow-up.

You want to create a relationship.

(I know you will be good at this Noah. I did receive your email - been busy here, bought a 556 unit deal and selling a 240 unit deal. We will connect soon).

Brian Adams · Answer

@Ashley Cote a thank you email definitely.

Next step after is to determine how you can add value to them, hopefully that value or benefit is working with you.

Overall goal is to create a meaningful relationship, be authentic, be genuine, be honest.

Scott Landau · Answer

Hi Noah,

I personally have not been to any meet up groups, as I have done solo deals myself with my own network.

With that being said, I would offer the following advice:

1. Keep an opened mind and be an active listener. Ask follow-up questions, even if you believe you know the answer. This is a good way to help you get an idea of who people are and their experiences.

2. It's perfectly normal not to know exactly what or how your first deal may look like or where it will come from. There are lot of different types of opportunities out there. If something sounds interesting, make a note and do your own due diligence (homework) and validate the information.

3. Be yourself. I operate, both personally and professionally, through kindness, respect, honesty and integrity and expect nothing less in exchange. There are no laws for being ethical. Would you want to partner or invest with someone who you have any doubts?

4. Take the time to digest and build your own plan. Write down the pros / cons with chosen investment, likelihood of success, skills set you have / don't have, etc. This will help you understand where you may need to tap others for help and understand your own risk tolerance.

5. Have fun!

Feel free to reach out to me directly.

Scott H. Landau

Noah Scott · Answer

@Steve Babiak Wow! Great advice on the DIG groups. The guys in the ChesCo. subgroup mentioned you and about your presence on BP after I mentioned how I posted about the meeting. Glad to put a virtual face to the name.

Thank you for the advice and I will be looking at the August 24th meeting in KoP!

Chris Mason · Answer

Dress how your normally dress, drink a beer, have fun. Women can somehow get away with wearing a fancy dress on any occasion, you as a man are going to look weird if you show up in a 3 piece suit and that's not how you normally dress.

Assuming you are a homeowner already, home maintenance (& costs) is an easy topic that you can certainly talk to anyone about that is a landlord, since they have your problems x 10.

Ashley Cote · Answer

I don't have any great advice for you, as I'm a newbie myself. Going to my first REI group meeting tomorrow night.

I would suggest making some business cards so that when you meet people that may be potential partners or just a contact that you'd like to network with, you can exchange business cards. It's easier than having to scribble down your info in a meetup like that.

I'd also aim to inquire about people's success. Most people love to brag about their stories, so let them and learn from what they've done. They may even give you some pitfalls they went through so you can try to avoid them yourself.

Ashley Cote · Answer

@Brian Adams

A complete novice question,

When emailing/contacting new connections, what type of content should we aim for? Just a mere thank you for the contact information and pleasure of meeting, or should we include more about ourselves and goals?

Noah Scott · Answer

@Brian Adams Thank you very much for your response!

I did not see your post until after the meeting; however, I am happy to see that I mirrored much of what you posted. My main goal at the moment is to find mentorship, provide value to whomever I am lucky enough to be a mentee under, and create a working plan for my investments.

I messaged those whom I connected with and saw as meaningful business relationships this morning.

I am grateful that you received my email and hope to be in touch soon!

P.S. - Congratulations on the recent sales and acquisitions!

Steve Babiak · Answer

Since you are in Garnet Valley, if you should join DIG you can consider attending both the Delaware County DIG subgroup and the Delaware State DIG subgroup - both of those should be close to you. And since DIG has a "spin the wheel" discount offered for the first time membership when you attend the main DIG meeting in person, you should get to the DIG August 24, 2017 meeting that will be held in King of Prussia - much closer for you than the normal main meeting location in Ambler.

Anything I Should Know Before First REI Meetup?

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