I am planning to join the Real Estate Investors Association of Columbus here soon, and I was wondering what the best way to introduce myself as a potential investor/wholesaler is? Business cards, a firm handshake and friendliness are a no-brainer, but what things would YOU guys like to hear from someone you just met that would make you want to do business with them? I consider myself a well-spoken and easy to get along with guy, but I am pretty nervous about just walking up to some people and shoving a card in their face. Any suggestions?
I would suggest just being yourself and being honest. I made the mistake of talking before I knew what the hell I was talking about! Two ears, one mouth... nice ratio.
This is no different than meeting people anywhere else. The trick at the large REIAs is that the majority of people will be newbies with little or no experience. Your mission is to find the SUCCESSFUL investors and make friends with them. The best successful investor to meet would be someone who is doing the same thing you want to do. If you want to do rentals, make friends with the successful landlords. Just be yourself, but don't pretend to be something you're not. I like BlueStar's answer - two ears, one mouth!
Assuming you are not talking about a group introduction where you are on stage for a couple of minutes to introduce yourself...
Say nothing for a few meetings. Unless someone comes up to you remain silent and observe. Let the audience identify itself. Those who know what they are doing and those who are more naive than you are.
Stick to the back of the room as you can observe more people that way. Watch to see who is talking and who people listen to.
Note that many times the most experienced are at the back. They drop in and out of the room. They network with others who they see on a regular basis. Listen in without making it too obvious.
Most of the presentations can be educational but still something you can learn later. Get an iPod and just record the meeting as it is taking place. Assuming a microphone is being use your iPod will pick it up. That way if anything useful is being discussed from the front you can listen to it in the car rather than miss out on observing people. The iPod needs an added microphone and there is a minor charge. The Apple stores or online will have all the details.
After a few meetings when you have an idea of who you should speak with introduce yourself. Be understated. That is normally the opposite of a newbie. Let the other person talk. Keep it simple initially. If they are really someone you want to know better offer to buy them coffee or lunch so you get some quality time with just them.
Oh, one more thing. Be yourself. No need to worry too much about how you are coming across. While most of us can improve our people skills that comes with practice. Better to stumble a bit than to be overly focused on being something you are not. Be that person in the future as you gain experience networking.
Everyone in the room started out from the same place. They started from where they are when they made a decision to change the future. Good luck.
John Corey
PS. I like the comment about 2 ears, one mouth, good ratio.
I keep it pretty simple. When you speak to someone, take interest in their interests. Get to know them, create rapport. What do they want, what are they looking for. If they're looking for deals, I simply ask them if it would be okay if I brought them a deal that fit their specific investment criteria. I haven't gotten a negative response to that approach yet. I've also found that a lot of the people at these events pretty much expect to network. Most people I meet are more than happy to take my cards and give me theirs.
I usually just stroll around trying to catch an ear of other's conversations, some people will be talking about football games, gas prices, or some other local news event. Try to find the people that are talking about their first hand experiences in REI, preferably the ones that are talking about positive things going on and not the ones complaining about the crummy tenants or water company.
If the meeting is structured like a board meeting (my local REIA is) then as the meeting is going on take notes on peoples names who you would like to meet. These should be the people in the room that are leaders with vision. There will likely be other leaders but ones without vision. Look for the ones with vision.
After the second meeting I went to I approached these people that I identified and offered to take them out to lunch or for a coffee. In that setting you can then find out how they got started, their experiences, and usually you can also get a feel for how many deals they do per year and/or how many properties & units they have. They will probably ask you to share your vision. Keep it short and try to spend most of your time listening. ***Pay for whatever they purchase.*** It's money well spent, probably one of the cheapest ways you can get educated. You will learn so much from them and likely start a new friendship.
In all areas when you are first starting and meeting seasoned investors your main focus should be to keep quiet and listen to what they have to say.
I would have to agree with a lot of the things that have already been stated here. If you are not an authority, then playing the 'fake it till you make it' game will probably get you in trouble. Before you know it, people will start coming to you asking for advice to the point where you might not know what the heck they are talking about. That will give off a bad impression to everyone and as you probably know, word about something negative always spreads faster than something positive.