Are you a new real estate investor looking to network and gain connections in the industry?
Meetups can be a great opportunity to do so, but it’s important to avoid making certain mistakes.
In this video, Anthony discusses the top mistakes to avoid at your first real estate investor meetup, including showing up without a plan, not bringing value to the table, not having a specific asset class in mind, and succumbing to imposter syndrome.
Learn how to make the most of your meetup experience and build a strong network that will support you throughout your investing career.
Check out our book, Passive Investing Made Simple, or listen to our podcast, Multifamily Investing Made Simple, for more tips on multifamily investing.
Tweetable Quotes:
“”An investor’s network is incredibly valuable. It can be worth more than their actual portfolio.”” – Anthony Vicino
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*Transcript*
Avoid These Investor Meet-Up Mistakes
[00:00:00] Anthony: Avoid these mistakes at your first real estate investor meet.
What’s the best tool a real estate investor should have on their belt, their network? And what’s one of the best ways to network in the real estate industry? Meetups Here are the top things to avoid when attending your very first real estate investor meetup. We’ve always said that an investor’s network is incredibly valuable.
In fact, it can be worth more than their actual portfolio. It doesn’t matter how many years you have under your belt or how much experience you. From time to time, you’re gonna have to lean on that network for support in some way or another. Now, this is especially true for you, new investors, so listen up.
A strong network in the beginning will take you to the finish line, and one of the first things you need to do as a new investor is build that network before you even put a single sentence into a deal. One of the best ways for a new investor to network and gain connections is to check your local meetups.
Chances are your city has regular meet. Where you can mix and mingle with professionals in the industry. But here’s what you need to avoid doing when going to your first meetup. You gotta go into these things with a plan. Avoid showing up on a whim [00:01:00] because you thought it would be fun. Sure, it might be fun, but the reason you’re there is to network and to learn.
The next thing you have to know is these events are filled with professionals. They’re achievers of the industry and they have a lot to offer. You starting out maybe don’t have a lot to. So you need to bring some kind of value. Take time beforehand to truly think about what you can bring to the table.
As a new and green investor, it’s probably not gonna be much, but maybe you’re willing to go out and do all the grunt work. That’s a valuable asset that these professionals are gonna respect. Maybe you have a lot of capital that you’re sitting on and you don’t know what to do with it. Well, that’s definitely something valuable.
Whatever your situation is, think about it beforehand and come prepared. The next thing you want to avoid is showing up, not having decided on an asset. That you want to invest in. If you show up at a commercial real estate investor meetup and you don’t know whether you want to invest in self-storage, retail office space or multi-family, you’ve jumped the gun.
You should not be there. Again, this event is full of people who are already in the industry, and for most of them, they’re not there to give a lesson on commercial real estate. Now, this isn’t to say that you won’t learn anything. Only that. You need to come in with a base [00:02:00] knowledge. So first, you have to decide on what asset class you want to invest in.
For me, it was multi-family. It made sense to me. I could wrap my head around the business model and I liked it. The same thing needs to be true for you. Find something that you like and that you understand, and then learn about it. Watch YouTube videos like this. Read books. Listen to podcasts. Shameless plug.
If it’s multi-family investing you’re interested in, check out our book. Passive Investing Made Simple, or Listen to our podcast, multi-Family Investing Made Simple. Just learn enough so that you can have a conversation with somebody in the. Without them needing to hold your hand through it. And the last thing, avoid the imposter syndrome.
It can be really hard to socialize at these meetups, especially if you’re like me and you’re an introvert. I don’t like people, but I know that’s not an attitude that will work if I need to build a network. So you gotta overcome it. You go out and socialize, you talk, you listen. You learn. . Here’s the key though, and this is where the introverts need to listen up.
Don’t be somebody that you’re not. A lot of people will overcompensate for being an introvert by emulating other people. If you see the loud, funny person working their way through the crowd like butter, don’t just copy their act because it’s working for them, especially if you’re not funny. What I’m saying is you know who you are.
You know what [00:03:00] you bring to the table, and sometimes all you need to do is amplify that part of yourself a little bit more at these events. For example, I love marketing and I’m good at it. That’s the angle I use. My business partner, Dan, is a very analytical numbers kind of guy, and that’s the angle he. We actually met at one of these events, and that’s why we’re in this business together.
We weren’t pretending to be something we’re not, and because of that, we realized how well we could work together. So if you do all this, you should be in a pretty great position to attend your very first real estate investing meetup. Remember, most of the work is done before the event, so get prepared.
And once you’re there, just be yourself. I hope you found this helpful. If you did drop a, like maybe I forgot something. So if I did, just let me know down in the comments. And if you want more helpful videos on multi-family investing, hit that subscribe button.
