Real estate investing meet ups are a waste of time, unless you do this

I might have pulled the brakes on a lot of people there. But before you get all riled up... let me explain.

This article is two-fold. First, it lists the problems with going to REI meet-ups and how to shift your mindset if you do go. And second, the problem with networking and how to fix it. 

Why REI meet ups can be a waste of time. 

REI events can be a great source to accomplish your goals. But most people don't have a goal in mind when they go. They just hang out in the back. I was like that. In fact, some days I still go to REI events with no goal in mind. And it's a waste of $30 and a waste of time that you could spend doing something more productive or with your family.

That money is expensive... yes it $30 bucks, but it adds up.

Then, the new investor/agent who goes to these meet ups and has accomplished nothing, might go home feeling like he/she actually did "something" for real estate today. When it's far from the truth. These events do nothing for you unless you have bite-size goals. If you choose to go to network/REI meet ups, makes sure you have a goal in mind.

So when you do go to your next meetup, have a clear intention on what you're trying to achieve, like, "I want to meet 5 agents today and put them on my follow up list", "I want to get on 5 wholesalers list and put them on my list", "I want to meet a lawyer/CPA/property mananger", "I want to find an experienced investor who's willing to take me under his wing if I help him find deals". 

Everything you do should be done with purpose. Every week, ever day, every task has a purpose and you do it with intent of achieving a goal.

REI meetups can be used to find deals from other investors, to network and build your list of agents who supply deals, to find lenders to grow your list of private money, to find a recommended professional to solve a problem (I found my MLO at a REI meet up), or to learn if you're brand new.

Whatever the goal, when you go to one, have that as your clear intention... not to just "go" and hang out in the back and "hope" that something will come out of it. 

Networking is a skill

Networking is a hard skill especially for introverts (I know, I'm one). But it's a necessity in the business.

I've heard an excellent podcast episode on the Carrot Cast, on networking and it nailed the truth of the matter right in the head. Too many people go into network meetings not being them selves. They hand out their business card like it's pennies thinking this is the way to go. However, the guest Trevor had on explained that he goes to network meet ups to meet one person and "shoot the hay" with that one person rather than trying to hand out cards.

I can concur.

The best relationships I've built was from having deep conversations with one person at the meetup. 

When you do network, the key to that success... is to listen intently. I hate it when you're talking to someone and the other guy/gal is not listening and just waiting for his/her chance to speak.

Listening is a skill that you must master as real estate investor and to be a successful person in everyday life.

Be a good listener will not only take you far in networking but in your personal and business life as well. 

Anyway that's my 2-cents and my experience with networking and REI meetups. It's a quality skill to have, and the meet ups are crucial if you have a goal in mind...if not, then don't go and save your money and time.