Monthly REIA questions

[Troy Cole]

Hello BP,

I'm a new investor currently at the monthly REIA in my area. Im introverted and need help. What are some good questions to ask?

This month's meeting is about Rehabbing for Fat Cash. 

How can I make the best out of this networking opportunity?

Thanks in advance!

[Jeff Greenberg]

Dump the introversion. I am a closet introvert. Ask anyone in the REI business and they will say that I am an extravert.

Being an introvert in this business is tough.  Even through you can spend a lot of time behind your computer, there will be a time that you need to communicate with a broker or seller.  Get involved with "toastmasters" and get in front of people and make a fool of yourself.  That is what they are there for.  Push out of your comfort zone and get over the sweaty palms and pain in your chest.  I have been there and feel your pain.  As you push yourself past your comfort zone, you will find that your comfort zone will move.  Were you ever an athlete? I was a swimmer, and I remember reaching a point in my workout that I could go no more, but I did not quit.  I pushed past the mental barrier, that I thought was a physical barrier, and found that there was relief on the other side.  Next time that barrier was farther out.  Each time I push past the barrier, it moved farther out.

The first property I bought, I had to raise 350K. I had never raised a dime except for selling lemonade at the corner.  I was dieing.  The next deal I had to raise 700k. and then 1.5 mil.  We are looking at 5-10 mil deals now and our raises will need to be 3-5 mil.  I can't do that if I am afraid to talk to people.

Questions at the REIA. People love to talk about themselves and their accomplishments. My first question is What are you doing in Real Estate as they are talking see if anything they say stimulates a followup question. If nothing come to mind, ask them how they got started. Again followup questions. Ask how they would recommend an new investor get started and if he/she would recommend the path he/she took. Are there any books/podcasts/blogs that recommend. Ask them if they are on BP and any any blogs or podcasts they recommend.

Sorry that I got a little preachy, but as I said, I feel your pain and have pushed it aside. I now run two different REI clubs, have a team of 10 people under my mentorship looking for deals, have been on stage in front of over a thousand people, and I am an introvert. Don't let it slow you down.

Good luck.  PM me anytime.