How do I benefit the most from local RE events?

Question

Hi BP community,

I recently went to my first real estate event in Los Angeles that I found through Bigger Pockets. I loved the event. I met so many wonderful people and got to know a lot of them. Many people that attended the event were similar to me, new to real estate, but have passion to learn and network more. I will for sure attend more events in the future.

After I went to my 1st event, I started thinking. How do I benefit the most from going to these events and getting to know all these new people that are all interested in different things in the real estate industry. I am currently interning at a mortgage fund that does hard money lending. But my main goal is to get my real estate agent's license (taking the courses at the moment) and start developing my business. As well, as I am looking to partner up with an experienced or willing investor on my first deal in 2020.

So how do I put myself into a position during or after those events to benefit the most from them? Thank you all in advance for the responses.

Jon Crosby · Answer

@Oleg Enik

Check out the book 'Raising Capital for Real Estate' by Hunter Thompson and read pages 45 to 50.  I like his view on networking groups and how to measure the value of going to them.

Basically it says to go with the purpose of finding that one connection or piece of info or insight that is worth at least $2k. What that is, of course, is very subjective but it just provides in an interesting way of approaching those events and being more committed to engaging within them.

Best of luck!

Abel Curiel · Answer

Thats all it is... you nailed it. The goal is to just keep strengthening the relationship by finding out whats new with them... what goals they've set, what action steps they're taking to meet those goals, and if/how you can help them achieve those goals. It is rarely a "salesy" call for me... its more about being a resource for them. If a sale comes from it, great. If a referral comes from it, awesome... but that shouldn't be the goal. It'll just be a product of building quality relationships.

Of course, some folks have little/no plans or goals. Others are not motivated or serious. These aren't necessarily bad people to have in your follow-up system. They may just be people that you follow up with 2-3 times a year as oppose to 6-12.

You had a great book suggestion in the other comment.

I also enjoyed reading How to win friends and influence people by Dale Carnegie.

Abel Curiel · Answer

Hey Oleg,

Glad to hear you had a good experience at your first event!

The best way to get as much out of these events as possible is to add value.

You have experience and connections on the finance side of things AND you'll soon be a licensed Realtor. Keep sharpening your skills by increasing your experience and knowledge in these fields.

Those two things are key. Why? ... As you mentioned, most of the folks at these meetings are totally new to RE which means they need someone in the industry to point them in the right direction... What does that mean.. the right direction?

The first 2 steps for new investors usually involve: 1. getting their financing in order 2. finding deals/finding a Realtor.

Make sure you collect the contact information for everyone you meet... everyone!

After the event, add all your new contacts to a spreadsheet and/or CRM. Call them 6-12 times a year and add them to a follow-up email campaign. This will help you build your referral business and build quality relationships.

Best of luck to you at the next event!

Abel

Oleg Enik · Answer

@Abel Curiel All of that makes total sense. I will make sure to develop the skill of reaching out to more people and keeping up the relationships with them. Thank you for the book suggestion, I have read that book and it brought a lot of value to me. I will revisit my notes and try to implement the lessons taught in that book in real life. Thank you for your response!

Oleg Enik · Answer

@Jon Crosby Thank you Jon, I will make sure to give that book a read!

Oleg Enik · Answer

@Abel Curiel Hi Abel and thank you for always responding to my posts! You have a very valid point, I appreciate your advice. I got everyone's contact information and already talked over the phone with some of the people I have met there. As well, I am planning on grabbing coffee or lunch and developing my relationship with some of the folks there further.

When you recommend to call them 6-12 times a year, would you recommend to just check how they're doing, have a casual conversation, and see where they are in terms of real estate investing or their journey to become a successful real estate professional? Or what do you talk about/ask the people who you add to your spreadsheet/CRM?

Thank you again and good luck with everything!

How do I benefit the most from local RE events?

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