Networking Clubs Cost Money???

Question

Hey BP!

I am on fire right now... I've been eating up Podcast like a mad man. Talking with realtors and lenders etc. One reoccurring thing I keep hearing is networking. So I go check out the nearest REI Club for the Inland Empire, its like $40.00 to start being a member...

Now I will take some council, am I Just being cheap? I checked here on BP and there's zero meetups in the area. I may need to check my keyword alerts but I almost never hear anything for San Bernardino and the Inland Empire. How are you guys networking?

Thanks

Guy Olds · Answer

Thank you @Karen Margrave for suggesting that I start a meetup but not only do I not think I'm the right person for that, I'm quite content with the clubs we have now.  I could easily hit one or two every week as I/we have our choices of guest speakers and topics. Though if someone else wanted to start a BP meetup in the San Gabriel Valley I might join it.

Jacqueline Carrington · Answer

Exactly! That's what I did while living in New Haven, CT. The nearest was 25 miles away. I started my own snd it was successful quickly with 15 to 20 people and only marketing on Bigger Pockets.

Guy Olds · Answer

@Clifford G. To answer one of your questions ... Yes you are being cheap. I'm not sure what part of southern CA you're in but you did mention the inland empire and I've never found any club there to be $40 a meeting. $30 tops. They run down to $10 a month. If you ever find a meeting that charges nothing it's because they make their money to pay for renting the venue, drinks or food and the cost of meetup.com by hard selling you the programs that their speaker is promoting because they (the meeting host) will get a percentage). If you don't like being a mark for hard sales pitches be happy you have to pay money for a no sales pitch meeting. There are quite a few of those in SoCal.

The largest club in the IE is in Riverside (it's a no sales club). You'll get about 125 people there every month. The club is called Inland Empire Real Estate Investment Club. I meets on the 4th Wednesday every month at the Mission Inn in Riverside and costs $30. Now, is that too much money to have 5 hours of networking with rehabbers, wholesalers, buy and holders, property managers, airbnb hosts, and realtors. Oh and if you become a yearly member of the club the average spend per meeting is $19. I'm a yearly member.

Since I don't know where you're located I won't go into a whole list of clubs but most can be found on meetup.com.

Finally, what ever club you chose as your "home" club that will be the people you will get to know the best and make deals with and make money with. So, if you are an action taker and plan on following through real estate investing don't sweat the small stuff like the itty bitty cost of a monthly meeting when the connections, and friendships from your networking will make you thousands and thousands of dollars. It's paid of handsomely for me and I have to admit I hate networking as I'm more on the shy side.

Mitch Coluzzi · Answer

@Karen Margrave
@Guy Olds

I have to agree with Karen.  They don't need to cost anything.  And they don't take much more than an invite to get started.  In fact, we started a Des Moines based meetup from these very forums with 3 people.  Then a few posts later we have 6.  And now, we have almost 500 with an average attendance in the 20-30 range!   It doesn't take much to network and there are plenty of venues that will provide access free of charge when you have a few folks showing up!

Clifford G. · Answer

Yes thank for pushing my off the fence it is what I needed. Plus I wanted to get a feel if anyone here at BP had to say on the topic. No worries see ya in January!

Clifford G. · Answer

Thanks Rob for the input! I have checked out the website and look forward to seeing you there also. It makes sense you need to be there consistently in order to build relationships.

Guy Olds · Answer

@Clifford G. Now that I've convinced you to go to the Inland Empire Real Estate Club (IEREIC) I have to tell you that in December all they have is a big Christmas party and that may be way too expensive if you don't know anyone ($40 in advance or $55 at the door) so you may want wait until the January meeting which unfortunately is like 7 weeks away. Hope to see you then.

Clifford G. · Answer

@Guy Olds Thanks allot for the advice! What you said makes complete sense. I definitely don't want to be sold! That is exactly what I am trying to avoid, I was searching through Meetup.com.

Its a little bit of a mind shift for me, you try to get by without incurring cost whenever possible being "frugal".

I am in San Bernardino not far for the IE Riverside at the Mission Inn so I plan on attending there at the next event. Stinks that I just missed the last one.

Appreciate your input its really funny the little barriers you can put up on things that are relatively inconsequential in the big picture of things.

Thanks again for sharing your experience! I am following through with investing and its clear you got to rub elbows with the right people. It stinks being the novice but everyone was at one time right...

Networking Clubs Cost Money???

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