I am looking to start a local meet up of my own in Indianapolis, IN. This will be multifamily investing related. As you can imagine, there are already quite a few that exist, but I have a few ideas to be unique.
For those that have hosted their own meet ups in the past, what are some things you wish you would have done when you started out? What was your main goal you wanted to achieve by starting the meetup?
For those that have attended local real estate meet ups before, what are some things you really enjoyed that the host and/or group did well?
Any other tips or feedback would be great. Thanks!
Candy is dandy, but liquor is quicker.
@Scott Mac thanks!!
I was actually talking to another investor friend over lunch on Friday about starting a multi family meetup here in Indy. I would be interested in co-hosting with you if you would be open to it.
I attended a local meetup a few weeks ago. While it was not officially sponsored, there were a lot of members there from a “guru” group. That was a big turn off for me. I’m looking to develop something more organic and focused on networking.
I used to attend a multi family meetup in Chicago that had a great setup. PM me if you want to talk offline.
@Justin G. you are right about several existing in almost every city. I think you have to come up with a unique angle or make it more of a focus on networking and building relationships, rather than having a "better monthly topic".
@Brian Pownall Thanks for the feedback!
@Dave E. We can certainly discuss this.
I agree that having it under the name of a guru can be a turn off. My main goal of this group would be education and adding value to as many people as I can. Not trying to promote or sell anything 👍
@Justin G. I've been to a few multifamily meetups in the Raleigh, NC area. My favorite one is at the local car club. It was free for first time attendees, and others paid a fee for dinner and drinks. It was a great way to meet people in our area. the host presented a deal for 20 minutes, but the rest of the meet up was just networking. It was really fun, and I liked the way it was laid back. I think meetups are best when they are mainly networking events. That way, people get to mingle, and also build real connections.
Hope you get some value from my experience at this event.
@Jeffrey Donis thanks!
I’ve run a meetup group playing Cash Flow Board Game and found it was successful by giving a TON of value without asking anything in return. Help others and they’ll tell others. A guy in Indi you should connect with is Kevin Hudaba 630-677-5559. He runs a Facebook group for Multi’s with over 31K members. I tried to tag him on here but couldn’t find him. Maybe you and him could meet up and swap ideas. I know he’s a sharp guy breaking into the multi-space, currently a RE agent as well.
@Brandon Schwab Thanks for the feedback!
Yes, I know Kevin. He is my partner. His FB group has grown quite a lot! I’m a mod in that group. Haha thanks!
Analyzing real deals(or recent deals) in a small group and group, and maybe have a monthly Q&A or problem of practice(investing)
@Anastasia Gamino That's definitely a possibility, however, analyzing a recent deal is really time consuming and I do not think a lot of people would enjoy watching someone go through an excel spreadsheet after a long day at work. But I could be wrong!
Thanks for the suggestion!
@Justin G. - I should be more specific. I went to a meetup once and we looked at a deal that someone in the group had already purchased. We went through their spreadsheets already created, but in small groups we had to come up with an offer price using the simple formula NOI/CAP RATE=Offer price. This was really helpful to me and many others,and it allowed the group to share out why they came up with different offer prices and their thought process behind it(specifially led to a conversation about compressing cap rates). The exercise led to great conversations. Yes, I agree underwriting MF is a complex task but if you are doing a piece of of it only...I think it could be helpful for all and lead to small group discussions.
@Anastasia Gamino Got it! I can see how that would be helpful.
@Justin G. We host a 2-hour meetup every third Wednesday of the month which just so happens to be tomorrow night at 7:30 Arizona time. Our meetup is a hybrid in-person and via zoom so that people from out of state can attend and people from in state can attend in person if they would like.
The first 30 minutes is introductions where everybody gets to talk to the group for 30 seconds to 1 minute. They state their name and they their experience, what they have to offer, and then what they are looking for. They also give their number which is written down on the board so people can contact them later if they have some thing that someone is looking for. So it really is a great networking tool.
Then from 8:00 to 9:30 my business partner and I share about the current deals we are doing or recent deals that we have done and allow people to ask questions about the deals - how we found the deal, how we negotiated the deal, how we funded the deal, etc.
At the end we share that if people would like to learn more or be a part of the investing process with us then they can invest in our fund and we will include them in on our WhatsApp group where they can ask us questions and watch update videos and mini training, etc. in addition to making 8 - 10% return on their money while it is invested in the fund.
One of our primary goals to hosting meetups is to raise money in addition to adding value to the people who come.
Then, at the end, we go out to a late night snack at Applebee’s and chat a little more. We’ve been hosting this meetup for around 3 years and we usually get between 20 and 40 people each time.
@Shiloh Lundahl this was super helpful! Thanks for taking the time to explain this.