Go to a REIA and see who has the shiniest cards, the wealthy guys will have a crappy *** black on white card that barely has his info, the broke guy fresh out of his corporate job will have a pretty, shiny one with an impressive title (that doesn't mean anything).You're question is kinda funny: "what [you] say when they meet new people who may or may not know a thing about real estate."

Few wealthy farmers. 

I'm in the Bay Area of CA, which many of you know, is extremely expensive for RE with many wealthy dot.commers. being that its Silicon Valley.  

I really enjoy listening to the podcasts and have listened to all of the 141 episodes during my daily commutes.I was mostly inspired by the “Weekend Millionaire” series by Mike Summey and Roger Dawson, and truly believe wealth is an income stream and real estate investing is a getting rich slowly game.  

A lot of it is common sense, but it's not so common, and it might give you a little insight as to how people who are aiming to be truly wealthy behave. 

The truth is that investing in real estate is easy, accessible to the majority of the population, and will make you extremely wealthy over time... and yes it is exactly like monopoly.  1. 

for me, it was common sense stuff ;-)  his formula: look for properties with a problem, buy at a discount b/c of the problem, fix the problem, sell for more. he covered the following topics in the boot camp:1) how apartments will make you wealthy ... overview and mindset stuff2) how to find deals (he brought in a guru to up-sell profit grabber)3) the quick and easy way to evaluate properties (i think he now sells a subscription for an analyzer tool)4) how to determine where and when to buy5) the buying process (0 money down ... up-sells another syndication bootcamp)6) negotiation7) how to write offers 8) how to protect what you have - buying properties in the right entities9) property management overview (he up-sells another 3 day managing the manager bootcamp)10) overview on 1031 exchanges11) tips on how to increase your sales price (i.e., increasing NOI)12) ends with an up-sell to his coaching, which i think starts at 5k, + a monthly fee.  

I have several wealthy friends who would work with me but I do not know how to structure a deal properly.  

Owning property has always been for those people who have already "arrived", they're already wealthy and successful, so they just start buying up other stuff.

The idea of creating wealth is exciting and motivating me to educate myself in REI.