What makes a REI meetup a good one?

7 Replies

Hey folks, I'm looking to start a weekly lunch meetup in the North Dallas area (Addison) with a focus on multifamily investing. There are a lot of meetups in my area, so I'm thinking of ways to differentiate and maximize value in a short amount of time (1 hour over lunch). I'd really like to focus on facilitating relationships because all the learning you could ever want are on the internet, and face time with other investors is harder to come by. Ideas for a 1-hour meeting:

  • Weekly investor introductions & time to share what you're looking for, any issues you're facing, and services you may have to offer.
  • Deal pitching.
  • Success & goal sharing/accountability.

My question for the forum is, what makes a REI meetup a good one? What is the most valuable part of a meetup? Is their value in a group where the focus is on support & networking vs. educational content?

The value is in the connections you make. It sounds like you're a newbie...the challenge might be getting players to attend. Have you attended any of the meetups that are already happening in the area? There is a successful multifamily syndicator who hosts a lunch about once a month in Addison already.

What is your motive?  Many of the MF meet-ups in the DFW area are feeders for the big mentors in the area.  There are a few meet-ups that are hosted by realtors, most are SF and small MF centric.  A few are organized by MF syndicators, some push themselves, some don't.  So back to "what is your motive?"

In your list, the 'deal pitching' is a bit concerning.  Assuming you are talking about syndications, usually they are 506b and occasionally 506c.  The first requires a pre-existing relationship, the second requires accredited only investors.  Talking about example past deals is a bit safer. 

My friend Paul has a point, you may mostly attract contractors and various support folks.  As this investment strategy is all about making contacts, I would likely attend to check it out, but my return would be dependent on who attends.

I'd say the networking (which is obvious) and accountability. For example, at Joe Fairless' Cincinnati meetup, each person posts their monthly goals to a Facebook group and then updates the group on the status of their goal at the next meetup. No one wants to say they didn't achieve their goal in front of a bunch of people!

Additionally, I'd say consistency. You won't see a solid turnout for at least a few months, if not longer, so don't give up when only one or two people attend!

@Asa Hunt I started my monthly multifamily meetup in Richmond VA in April 2017.

Now I get ~30 attendees and have nearly 300 members. My second month - One guy showed up! 

A few things I did to improve turnout & quality:

  • Always have a topic or a speaker that makes people think "I can't miss this!!!"
  • Collect email addresses and contact people weekly
  • Weekly reminders via Meetup's built-in contact feature
  • Post on Meetup, Eventbrite, Facebook, BP, and anywhere else you can

Keys to a good meetup (in my opinion)

  • Good networking opportunity, both in terms of quality of individuals and enough time & space to do so
  • Educational, Inspirational, or Motivational speaker
  • Opportunity to do deals

In my opinion - JUST START IT. Take a swing, see what happens, and iterate along the way. There is no failure, only feedback.

If you can hunt down Jeremy Roll or Adam Triple A Adams, they're both great guys who have done very well with building their own networking groups.

Good responses, thanks folks. Definitely don't want 506b offerings being pitched. The vision is for an easy and efficient networking meetup that professionals can squeeze in over lunch. I really like the idea of 1 minute investor introductions centered on what you're investing in, any obstacles you're facing, and what you're looking for from the group. That way, if you have a roofing crisis and someone there owns a roofing company, or another investor knows an excellent roofer, that connection can be made. Otherwise, you may have never met those individuals that can help you.