5 Reasons You Should Join a Real Estate Mastermind Group

I just got back into town last night after having spent 3 days in San Diego with my real estate mastermind group, The Collective Genius. In years past, I prided myself on my independence and ability to grow a business without going to real estate club meetings, paying for coaching or especially buying into expensive classes and products. I suppose I gave myself a little too much credit for going it alone without the need for input and education from peers and other experienced real estate investors.

Fast forward a few years, and now I would tell you a different story. I joined my mastermind group in 2013 and can personally attest to the way a solid mastermind can dramatically improve a business. Over the past 2 years in The Collective Genius, I’ve rubbed shoulders with some of the top real estate talent in the country and have made some lasting relationships in the process.

We meet 4 times a year and at the end of every meeting, I come back armed with so many proven strategies, tactics, relationships, contacts, resources, etc. to take my business to the next level. Knowing what an impactful thing a mastermind can be, I thought I’d lay out the 5 reasons why I think it makes sense for real estate investors to join one.

5 Reasons You Should Join a Real Estate Mastermind Group

1. Education

One of the key takeaways from any mastermind group are new insights and knowledge in areas you may not know or have experience in. There are approximately 80 people in my mastermind group – all with different specialties and expertise.

I come home from every meeting having learned something new and having been educated on some particular topic or niche in real estate. Being in a mastermind is a phenomenal way to surround yourself with highly knowledgeable individuals in your industry.

2. Advisement

The tagline of my mastermind group is “The Elite Investor’s Board of Directors.” This is actually an incredibly accurate statement, as our quarterly meetings often feel like a board of directors advising you on your business.

One of the big roles that a mastermind can play in your business is simply by giving advice on a problem you may be having or a challenge that you’re facing. Other times, it can simply help you to grow your business to the next level. Who better to give this kind of advice? You are surrounded by a roomful of other experienced, successful members in the same industry who have likely faced the exact same challenges.

3. Collaboration

I didn’t realize at first what a wealth of opportunity is created by putting so many successful real estate investors together. Within a few short meetings I was doing deals and collaborating with other members around the country. Many successful joint ventures have come out of our mastermind that would not have happened had it not been for this group.

4. Networking

I think it goes without saying that when you put a number of real estate professionals together in one room, you have the added benefit of an instant network of people and resources. Not only is the network of people in the room an amazing start, but the number of outside introductions that can be made from the people in the group. I know in my group if there is literally anything or anyone in the real estate investing world that I need access to, there is somebody in the group who can make that introduction for me.

5. Growth and Change

Ultimately, the reason to join a mastermind is to affect you and your business in a positive way. Over two short years, I’ve watched countless people in my group grow their businesses exponentially as a direct result of being in the group. Not only have many of us increased our revenues and the number of deals we are doing, many of us have made significant changes in how we run our businesses that have made us more profitable. From systems to strategies, the collective knowledge inherent in a mastermind group will almost always produce growth and change in every member’s business.

While you may not be at the level of a Collective Genius in your business quite yet, there are masterminds all over the country and at all levels. Do not assume that you are better off on your own. We all have room for growth, and surrounding yourself with experienced and successful peers in your industry is a great way to increase your knowledge, your network and your opportunities — and ultimately to grow your business.

I’m curious: How many of you out there are already in mastermind groups? If so, how have they helped you in your business?

Leave a comment, and let’s talk!

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.