Welcome back,
If you are already a real estate investor then you know the importance of having a strong presence and influence in your local market. Let’s face it, most of us investors should be striving to be well-known by every other real estate professional (and all buyers and sellers) in our markets. Typically, the larger our circle of influence the more we are able to network and collaborate with others to grow our businesses. The old adage a rising tide raises all ships comes to mind.
In episode #15 of the Mobile Home Investing Podcast, I am proudly joined by my co-host, Steven. Steven is an active Mobile Home Formula member investing in mobile homes in western Minnesota and eastern North Dakota.
In Steven’s area there was little selection of where to network with other like-minded real estate investors and professionals. Steven decided to start his own real estate educations-social-networking club.
Related post: Structuring Win-Win Payments With Mobile Home Sellers In Parks (Video)
Author’s note: I consider myself outstandingly fortunate to work alongside some many great real estate investors and mobile home investors. What makes these investors “great” is not always their vast wealth of real estate knowledge or experience, but instead it is the rare ability to take action, ask questions, and never quit until success has been reached. Great work to Steven, and everyone else who takes action to further their reputation locally. Listen to the full podcast below to hear various ways to network without having to start your own club.
In the podcast below we jump right into the topic of starting your own real estate investment (REI) club group.
In this show John and Steven cover:
- ⭐ 1:20 Some different types of real estate investment (REI) club platforms to choose from.
- ⭐ 1:40 Possibly your most viable option to start a club now.
- ⭐ 1:55 Steven’s REI club history? & where he saw demand?
- ⭐ 2:30 How to test demand in your market?
- ⭐ 2:40 Have attendees grown or shrank since starting Steven’s club?
- ⭐ 3:00 What type of investor and folks have been attending?
- ⭐ 4:00 Where does your group meet monthly?
- ⭐ 4:35 Who are your speakers usually?
- ⭐ 5:30 Has this group generated you more deals and/or leads?
- ⭐ 6:25 What was the most surprising thing you’ve learned since starting your own REI group?
- ⭐ 6:50 Do you compensate your speakers?
- ⭐ 7:10 Is this a paid club? Or free for all guests?
- ⭐ 7:50 How John came to lead a group of over 300 real estate investors with little effort? & How you can too?
- ⭐ 9:00 Some to-do’s to seriously consider while attending your next local REI group meeting.
- ⭐ 9:35 Choose a unique REI group sub-niche.
- ⭐ 11:00 How to think of new and interesting topics each month?
Tips while attending your next REI club meeting:
- Ask other active investors what type of real estate they are mainly investing in?
- Suggest you send these active investors your unwanted leads if they fit their criteria.
- Call or text investors you meet back with 36 hours of meeting them. Remind them who you are and what types of real estate you love (mobile homes).
- Ask questions to learn more. Be interested in the stories and experiences of other investors.
- Stand up and announce what you are looking for and who you are.
- Have fun! Almost nobody wants to network with a grumpy or jaded investor.
- If you don't understand something, speak up and ask the speaker to clarify.
- Always wear a smile.
Listen to the Podcast Here
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7 Comments
Brian Marshall
October 10, 2015Hey John –
When and where did you host a rei group? Was it near tampa when you lived there? Did that ever lead to deals? Only Mh leads? Sorry for all the questions just think its cool to start my own club. Curious how likely it will be for me to generate leads for my home remodeling business and my real estate flipping passion. Thanks for the ideas and tip suggestions. I need to start calling people I meet back. Kinda nervous I guess. Thanks again.
BM
John Fedro
October 11, 2015Hi Brian,
Thanks for commenting and reaching out. Hosting and leading the REI group was back in 2005 and 2006. It was an amazing experience that taught me so much, lead to good friendships, and did lead to a few deals, including a personal SFR that I purchased for a great deal too. No worries on the questions. They are always welcome. Any follow up questions or concerns never hesitate to reach out anytime day or night. I certainly encourage you to take action and aim to help others and network with like minded folks. Absolutely feel confident in calling folks back you, you are the real deal and folks will be very glad to know you. Keep in touch.
Talk soon,
John
Mark
October 13, 2015Congratulations Steven. In my area there is definitely an abundance of these real estate type of groups. I am curious if that is going to mean that there are way too many investors in my area. Do you have any suggestions of how I should approach these groups.
Thank you in advance,
Mark b
John Fedro
October 14, 2015Hi Mark,
Thank you for commenting and reaching out concerning this issue. Additionally, thanks for the kudos in kind words for Steven. In your area is almost certainly a good thing that there are so many investors. It is likely that most of these are not “mobile home investors”. It is important to go to every real estate investors meeting with the goals to meet other active real estate investors, ask a number of questions to seasoned investors to learn more, and exchange phone numbers with people who you think you can help (and vice versa). In short, do not discredit any of these groups or meetings until you go to them. Real estate investing is definitely not a lone wolf activity, this is a group effort we can certainly help other investors in our area while we are growing our own businesses. Remember that you are only here to provide value to other investors, make friends, and let everybody know that you would like any and all of their “mobile home” means. Hope this helps and makes sense. If you have any follow-up questions or concerns never hesitate to reach back out anytime. Always here to help.
Talk soon,
John
Patrick Stevens
October 18, 2015Have really been enjoying your podcast John. Glad I found you. Could you please do a podcast about valuing mobile homes when buying and selling? I know you are probably very busy so do not worry if you cannot do this.
Cheers!
Patrick
John Fedro
October 21, 2015Hi Patrick,
Thanks so much for commenting and reaching out. Glad you found the site as well. Great suggestion about a podcast. I have done other video trainings on these subjects and have talked for well over 30-minutes on most of these videos. With all that said I will be happy to condense this information down to a 15 or 20 minute podcast. Look for this podcast in the coming months. If you have any specific questions or concerns with regards to any deals you are looking at are working on never hesitate to reach out anytime. Always here to help.
Thanks again for the podcast suggestion.
Talk soon,
John
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