As an introvert, it always takes a BIG effort for me to show up at conferences and networking events, whether it's a local REIA meetup or otherwise. Shooting the breeze with strangers just isn't what I'm great at - as much as I wish it was.
For those out there who LOVE going to networking meetups, why?
I realize it can be hard to quantify the value of these things, since some relationships don't lead to any tangible value until years down the road, or maybe it pays off in other, indirect ways... but I'm curious, does anyone have any examples of BIG deals, jobs, partnerships or otherwise that have materialized as a direct result of you attending a networking event of some kind? It might be helpful to see some examples of this, as motivation for the other introverts out there, so they can keep putting themselves out there.
@retipsterseth This is a great path of thought! I host a monthly REIA meeting in my town. I label myself as an introvert as well so when I originally started the REIA it was quite daunting. However, after overcoming the initial discomfort I found them to be of great value. It provides me with the opportunity to help like minded individuals who are now where I once was! I try to bring speakers on to present on their niche in the business and I always learn something that I can implement to improve my self. That is the intangible but matters a great deal to me that I get out of the REIAs I host or attend.
On the more tangible side. The REIA is the way I find passive investors who want to invest in my deals and active investors who want to do a joint venture. The last renovation for retail that my company performed on a home was with 2 investors who I found through my REIA. One was a passive investor who was just looking for the return the other was an active investor who wen through the entire deal with me side by side. Without the REIA I would have never met the active investor. Hope this helps!
My wife and I regularly attended a monthly REIA meetup years ago. We purchased a rent house from one of the members, and used one of the contractors we met there. The real value came from everything I learned at those meetings. They had really good speakers and one of the coordinators was an excellent teacher. He was always willing to share his knowledge and help in anyway he could. He also hosted a monthly game night at his house where we would play Robert Kiyosaki's Cashflow game. This was nice because it was a smaller group, and you could really get to know each other. It was definitely worth stepping out of my comfort zone and attending that first meeting. I find that you always have to be putting yourself out there if you want to see any growth or change.
I’ve connected with a few people at these kinds of meetups who have been very important contacts for me. One of them led to a job interview, which led to a good job I had for 7 years.
The benefit usually doesn’t materialize right away. Sometimes it’s months or years down the road, but every relationship you can develop is like a little doorway that probably won’t lead anywhere, but every once in a while, they can lead to something great.
Now that I think of it, it’s not that dissimilar from marketing. Some (maybe most) of your time will absolutely be wasted, but if you can uncover any big opportunity along the way, it can make it all worthwhile.
Quite late to the party on this one, but the short answer is about $85,000. Maybe closer to $65,000 net to us. As Jimmy Napier might have said ‘good enough’. A newbie brought me a probate lead. We agreed to do it together for an 80/20 split. We would cut the deal, put up most of the money, run the job. Got into contract at $400k ‘as is’, negotiated down to $360k based on bad septic, cleared the lot of junk - 32 hot tubs, junk cars, boats, paint, pool chemicals - cleaned out the hoarder house and sold it as is for $485K. He rehabbed and resold for $725k without fixing the septic. This is California - prices are insane.