Networking at REIA Meetings a Waste of Time??

[Account Closed]

Hello everyone,

I had some questions about networking at REIA meetings. I've been to five of my local REIA meetings since last Fall and I have yet to meet anyone who is willing to give me the time of day besides other new investors. At least once at each meeting, I will be talking to someone and within the first sixty seconds of introducing myself, they will excuse themselves and start talking to others. One hard money lender I was talking to literally turned his back on me, mid-sentence, and walked away.

I find that this usually happens after I tell them I'm new to investing, or when they learn I have nothing to offer them besides good conversation.

Am I missing something here?

Are networking events all business, all work and no play? Should I avoid any non-investing related topics?

Is this "speed-dating" approach to networking how it is normally or am I just completely oblivious to how networking events work?

What does a new investor have to offer an experienced one? And how can I quickly communicate that to these good folks before the bell rings and they move on to the next "date"?

[Will Barnard]

Originally posted by @Chris H.:

New investors are better to network with than more seasoned investors because new investors are hungry for deals..

I would have to disagree with this. While new investors are hungry for deals, I could place a deal right on their plate and they would not know how to pick up the fork and knife to eat it! The experienced investors have both the knowledge and experience, both of which is what the newbie investor seeks and can not find that from another newbie, therefore, you are left needing the experienced one.

To the OG poster, I understand your dilemma and frustration, I was once in your shoes. What I can tell you is, as much as I wished I was the guy on stage, I now know that is not the guy I am or want to be. That said, I am now the guy on stage, only I do it without the pitch of run to the back of the room with credit card in hand.

I attend RE meetings regularly and did so when I started out. It was a tough go at first with lots of frustration, lots of being ignored, and lots of disappointments. What I did have was drive and determination to succeed and so I never gave up. I kept at it and made my face present as much as possible. Over time, I met more and more people and learned more and more as I went along. While at these meetings today, I get all kinds of people (almost always newbies) coming up to me and the first thing out of most of their mouths is a question for me to answer. I am too nice to ignore them and turn my back and I answer if I can. After all, I know what it is like to be in their shoes. While my time is valuable, I do dedicate some of it to helping others, that is widely evident here on BP with over 11,000 posts and years of steady active membership.

I would change your approach next time. The first words out of your mouth in your introduction should not be a question about how to do something and should not be a "high, I'm a newbie". While I do not recommend you lie, your newbieness (hey, I just invented a new word) will be evident in how you talk if you are speaking to an experienced investor so no need to point that out in your first sentence.

YOU - Hey Will, I'm __________, this is my first (or second or however many times it is) time to this meeting, do you come here often? WILL - Yes, I am a member here and attend most months. YOU - That's great, I would then assume this is a good club to be a member of for serious investors? WILL - You bet. YOU - So what strategies in RE are you currently working on Will?

Lead the conversation about them and what they are doing, just general chat to create the relationship. Ask about their needs and what they are looking for, perhaps they are looking for another deal, or to fund a deal, a new contractor or sub, or whatever. Exchange business cards and at the NEXT meeting, then say hi again and perhaps ask a burning question you can not get answered on BP. In your initial conversation, perhaps you found out that the investor was looking for a new tenant, or perhaps needed something, regardless if it was RE related and perhaps you can help with it. if so, use that as an entry of trading something to them for their time for you. I get asked all the time if somebody could shadow me or be of any free assistance to me in the hopes of learning along the way. I have to turn them down on these requests as I just don't have the time to do these things for them. My time giving is here on BP and at the meetings themselves. I also get asked if they can take me to lunch all the time. Again, I don't have that kind of time, half the time I don't have time to eat at all anyways. Point is, be as respectful of their time as possible and be very careful on your approach next time. Whatever you have been saying so far has obviously not worked so try another approach and keep at it! Hope this has helped.