How to find real estate master minds?

Question

How to find real estate master minds? I have seen quite a number of post where a boatload of newbies formed groups. I have also been to meet ups, but the sponsors and the owner of the club is the main agenda. I’ve also been to a number of boot camps over the years where it was a giant funnel to get you to buy a 20k plus coaching program that was taught by students primarily. I’m not a newbie, but I’m sure there are things I can still learn.
How does someone go about finding small masterminds where the people involved are season investors that’s not trying to sell you something Or raise money?

Brandon Rush · Answer

Hey Joe,

To be honest, it will be a process of trial an error as. I myself have joined multiple groups, free masterminds and paid masterminds. I did not go out spending $10k on a program but I did spend a little bit between various groups and just saw it as my real estate tuition. I did the same thing you did a year ago and posted I was looking for an accountability group/mastermind and someone reach out to me to give me some information on their mastermind. Out of sheer luck, it was exactly the mastermind that I needed to be part of at this stage in my investing. I have been a member ever since.

As others mentioned, I would suggest you get out in the world and start networking with those in your market and your REIA. From there start building your contact database and keep in touch with them on a regular basis. Keep your eyes out as you will hear conversations about this group and that group. If you hear about them, make sure to ask for more information. It will all come together, it will just take time.

Curt Smith · Answer

Hi Joe and others.  I was emensely helped by my local REIA, real estate investor association.  REIAs pre date BP and meetup by decades and its my current view that the long time experience and help is in the local REIAs.   Google:  city REIA  see what comes up.  Look in meetup.org.

Masterminds are hard to find, they don't want to be flooded (diluted) by low experience.  I've been invited into 2 via a current member who knows me and my REI work for a few years.  A master mind is where you GIVE help 50% and recieve help 50%.  If you can't give (credibly) ...

Everyone will benefit from putting time and effort into your local REIA.  Get to know the "doers" and ask to go to their rehabs etc.  My local REIA,   GaREIA has a google group where folks ask / give help 24/7 and get contractor referals etc etc.   Not every REIA has an email list but most have gone to zoom meetings.  I'm a member of an Ohio REIA, coree (Vena Jone's gig),  GaREIA and a few master minds that have gone virtual.   The master mind is limited by by-laws to 25 people, another problem with joining a master mind.   Some master minds have up front costs as a proof you are up to the level of the other members.

Search in meetup, and google for REIA.  Good luck!    The local groups are where I got my helps from experienced folks in my local markets.  It was key for me.   Best of luck.

Account Closed · Answer

That actually is a very insightful question. Masterminds offer shared experience, friendship, collaboration & acountability.

In most cases you will need to create one.

If I was creating a new group, I'd start with going to my sources (various escrow companies, recorder's office, church, etc) and find out who is doing what I'm wanting to do. Be it flips, lease options, sub to, STR or whatever. It's like looking for a house off market. Then I'd call the investor, introduce myself and have coffee/lunch and "interview" then so to speak.

If they appeared interested and I liked their experince and style, I'd suggest getting together on a regular basis. Then I'd meet with the next person and say "we've got a couple of folks who get together each tuesday at 5:30pm (or whenever) would you like to join us?" Then the next person and so on. If your goal is 5 high achieving investors, plan on meeting with 20-25 people and shoot for 8 to 10 participants. Not everybody will "work" so you may need to plan on find a few extras. Consistency and quality are key.

You may want to bring in a guest speaker for the first few get togethers. maybe a banker, a real estate attorney, an asset protection attorney, a tax attorney or some high end specialist who isn't involved directly in mentoring real estate agents so there isn't a conflict of interest. Successful real estate investors have a lot of high end needs and a specialist/contact is useful to them.

I always ask how long they've been into real estate and what kind of investing they do. That is "open ended" enough to give them something to talk about.

I'd have people talk about a current project and the problems they are running into or a past project and how they  overcame a problem or two. Some people will be talkers and you want to give everyone a chance to talk. So you set expectations of a 10 minute limit. But, you've got to keep the conversation moving with worthwhile content to keep people coming back.

Jayson Cain · Answer

@Joe S. I've met a lot of great people from Facebook Groups. I also host virtual and in-person meet ups in Southern California. We have a group of newbie and experienced investors that wanting to learn and also wanting to pay it forward. I always have a line in our posts that no sales/advertising is allowed. If a vendor tries to sell without adding any value to the group, we add them to our group.

Marc Rice · Answer

You should join your local Facebook investor/REIA groups in your market and ask if there are any small masterminds there.

Joe S. · Answer

Thanks for the input Curtis. There is one local investor group that I’ve heard good things about, but it falls on a day that we have our midweek Bible study at our Church. There is another local group, but the owner heavily uses it as a source of self promotion to gain services, leads, Or sell his mentor program that is simply somebody paying big bucks to be his bird dog. I don’t blame him or fault him it just is what it is. I go there sometimes, but it gets old after a while because it is definitely not a neutral setting.

As far as paying a fee to be a part of a small group that is not overrun by newbies that talk to much I have no problem paying a fee.

How to find real estate master minds?

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