Do you attend your local REIA meeting? Workshops? In Person? Online?

Are you getting the most out of these events? Are you building relationships and doing business? Or are you just there to watch the speaker?

Get In and Get Out to Get the Most of your REIA Meeting

Today I was browsing Facebook looking for new people I need to meet. People I need to connect with and gasp, I was making comments on interesting posts. Facebook loves it, you are creating interaction, and guess what . . . it helps you meet people.

The post I saw was from Mike Seidl. Not someone I know, just a name on Facebook. His profile says he is a private money lender to experienced real estate investors and business owners. And based on some of the high-level folks in the photo within the post and some of the friends we share, he might be someone I need to get to know.

His post shared how getting OUT and building Relationships at the event is Key. So I asked if I could share it with our group here. It’s edited just a bit, but not much.

Step #1 Get In the Room

STEP #1 Get IN – the right room, with the right leader, with the right people.

[PRO TIP: someone with 3 years experience, in a good economy, isn’t the one!!]

Step #2 Get Out

STEP #2 Get OUT – to the hall, dinner, lunch, breakfast, coffee shop, pool – whatever works for you – and build relationship capital.

Getting Out and Building Relationships

Attending an event Monday, Tuesday, and Wednesday last week, Mike was able to build all of the following relationships because he followed the above steps. (If you are not making at least 1 connection at an hour event, you are not doing it right!)

Lunch with LinkedIn expert:

Chatted with this person about information and education on capital raising and has a start date penciled in. You can make a much better connection over a 30-minute to hour conversation than you would just exchanging business cards at the event.

Bumped into a FICO/banking business line of credit (LOC) expert

Had part 2 of a conversation started in 09/2023. Had lunch to gain more information and education from this person – Learned the average line of credit is $2,500,000. Confirmation that his expertise is on business LOC and not 0% interest credit cards [which are ultimately useless]. Date on the calendar to work with this person 04/03.

Random connection walking down the hall

Got pulled aside by a guy who told me that a buddy of mine suggested that he track me down regarding a possible fit to work together. We exchanged info on our business models. I learned he and his partner do multiple projects, in multiple states – both SFR and MF. Also learned that another buddy of mine, whom I’ve lent to multiple times, will be partnering on projects with these guys. There’s a fit for he and I to do business. We have a Zoom due to be scheduled next week to meet his partner.

Sat next to a person with the knowledge I needed

Sat with an experienced/pro at setting up the CRM we’ll be using. She peppered us with questions as to our goals with the app. We returned the peppering with our own questions. An agreement was made to visit her team at their location for 2 days of whiteboarding – we’ll brain-dump on them and get out of the way. Now we have a kick-ass CRM coming because we’re hiring the who to do the what.

Then we jumped on Zoom

5-person Zoom where we discussed the creation of a capital raising platform with a new partner/consultant who’s raised 9 figures without one. Also discussed the framework for 2 websites we’re creating together. Now we have a date confirmed to travel to his office, to meet him and his team in person for the 1st time, in mid-April.

Dinner with a group

Dinner with 10 other get-it-done business owners. Sat next to a marketing expert (yes many in real estate know him and agree that he’s an expert) He makes my head explode every time he does an info download. He began deep-diving into AI long before the rest of us heard of ChatGPT. We had a detailed conversation regarding the pivot I’m making with my business. We’ll be going to his office to whiteboard how to integrate AI into private lending – may not work – don’t know if we don’t try.

Caught up with an old friend

Sat down for an hour with a friend who has 6 +/- years of experience working with and raising capital from family offices. I’ve lent millions to him so he understands my business model. He’s agreed to consult with us and make introductions to family offices.

Another friend made a connection for us.

Was introduced by a friend to a connector who knows a ton of people and has a tremendous vibe and energy. We have no idea if we can help each other or not. I don’t care. I just love to be connected to a tremendous vibe – remember, it’s a long game!

Getting Out is Key

Mike has known many of these people for years. Maybe in the past they were not ready to connect. Maybe they didn’t know enough about each other. But because they took the time to talk outside of the room, they renewed old connections, found common ground, and put something on the calendar.

So, remember you are playing a long game. Making these extra connections, and building these relationships with no expectation of payback is the the pat the massive personal and financial growth.

Apply this Stuff to Your MAREI or Meetups

So, Mike in his post had 3 days at a real estate investor conference where he made connections during the meeting in the seats, in the hallway on breaks, in the bar and at dinner. And he carved out time to further make connections. You may only have a few hours at your local MAREI meeting or meetup group. But it is local, it will happen again next week or next month, so you can go EVERY TIME.

• Make plans to meet someone before for an early dinner or after for a late one.
• Take advantage of all the networking time to meet people and actually learn what it is they do.
• Don’t just collect a business card, take notes on what they do and why you need to call them. (Find out what they need so you have a reason)
• Put them in your phone right then and schedule time later to chat on the phone, over coffee, at the next meetup.
• Talk to the people around you in the seats when appropriate.
• Stay after to follow up. Relationships are made at the meeting after the meeting,
• Come back next time and do it all over again.

You Can Do this on Zoom TOO!

Not all Zoom events are set up to allow networking. But when they are, watch out as this is a great way to build relationships.

• Turn on your camera and PARTICIPATE so people see you.
• Change your name to include what you do after your first name.
• Put a shout out to people in your area in the chat.
• Ask questions in the chat, Answer questions in the chat.
• Share your 3 or 4 line elevator pitch with contact info in the chat.
• Then save that chat, and that day right after – read the chat and make notes on who you need to follow up with and do it RIGHT away.