Real estate investing is a highly competitive industry with thousands of investors competing for properties and deals. But it’s also very much a brotherhood, with a sense of camaraderie and support among fellow investors. This community feel is on display in a number of different ways but is especially prominent within real estate investment groups.
You’ve probably heard of real estate investment groups before, but the question is: How do you strategically leverage them for optimum networking and learning? Well, that’s precisely what we’ll cover in this guide – so keep reading!
What Are Real Estate Investment Groups?
A real estate investment group (REIG) is basically an organization that brings together different individuals who are interested in real estate investing and other peripheral topics. Depending on the group, you’ll have everyone from total beginners to seasoned professionals with massive portfolios. The goal of these groups is to facilitate knowledge sharing, networking, and often, collective investing.
Different types of REIGs focus on different aspects of real estate. For instance, some groups may concentrate solely on residential properties, while others might delve into commercial real estate. There are also REIGs that target specific investment strategies, such as buy-and-hold, fix-and-flip, or wholesale. Understanding these distinctions is essential as it helps you identify which group aligns with your investment goals and strategy.
While every REIG operates differently, most host regular meetings (usually once or twice per month). These events may be held in person or virtually, usually consisting of some combination of presentations, networking, and training.
In addition to the meetings, many REIGs provide resources and educational materials to their members, facilitating ongoing learning and skill development. These could include newsletters, webinars, workshops, and online forums. Some groups offer collective investments, allowing members to pool resources to invest in larger properties or development projects that might be beyond the reach of any single investor.
The benefits of joining a REIG – whether big or small, local or national – include:
- Networking opportunities: This industry is built on relationships. (You know…it’s not what you know but who you know.) So it’s probably not a surprise that the number one reason investors join REIGs is for the networking opportunities.
- Learning and training: Beyond networking, there’s the ability to attend regular meetings and hear from experts in lead sourcing, negotiation, tax strategies, and more. This makes it a great option for “upping” your skills.
- Investment opportunities: As previously mentioned, some groups offer investment opportunities and access to off-market deals. This is certainly one of the more alluring aspects.
- Sense of community: At the end of the day, there’s a sense of community and togetherness that comes with real estate investment groups. The encouragement of knowing you’re not “in it alone” is worth the price of admission.
How to Choose the Right Real Estate Investment Groups
There are dozens of different REIGs to choose from. Here’s some guidance on how to choose the right ones:
- Group size: The size of the group is important, particularly if you’re looking to use your REIG as a major part of your networking strategy. Large groups may have chapters in different cities, while smaller groups may be local to a very specific market. Both have their advantages.
- Alignment: There are general groups and there are groups that focus on particular strategies and niches, like buy-and-hold, house flipping, commercial real estate, etc.
- Online vs. offline: Do you want to meet people in person and attend live events? Or are you fine with virtual events and online perks? Some groups only offer one, while others offer both.
There are obviously other factors to think through, but these three are arguably the most important. Don’t join a bunch of groups just to join a bunch of groups. Take your time and focus on quality over quantity.
Making the Most of Your Real Estate Investment Groups
Want to make the most out of your membership? Here are several tips and best practices to help you get ahead:
1. Be an Active Participant
The number one piece of advice is to show up often. The more present you are, the more you’ll get out of your membership. But it goes beyond just being there.
Attending meetings and events is fundamental, but active participation can make all the difference. Don’t hesitate to ask questions, contribute to discussions, or share your experiences. Active participation not only enhances your learning but also helps you become a recognized member of the group.
2. Leverage Educational Resources
Most REIGs come with additional educational resources, training, and membership bonuses that can help you get the most of your involvement in the group. Make sure you utilize these.
Keep an eye out for workshops, panels, online courses, newsletters, webinars, and anything else that can help you become a better real estate investor. These resources are often overlooked but can provide some serious value.
3. Take On Roles
Every REIG has opportunities to take on volunteer roles or run for an “office.” There might even be ways to serve on board. Taking on these roles allows you to meet new people, increase visibility within the group, and get a feel for what’s going on behind the scenes. This gives you a serious leg up and empowers you to get even more out of the group.
4. Apply in Real-Time
Don’t be a content or idea “hoarder.” We live in a world of ubiquitous information and resources. And if you aren’t careful, you can easily get stuck in the habit of collecting ideas that you never do anything with.
To get the most value out of your REIG, focus on applying what you learn in real-time. Focus on applying one thing every time you attend a meeting, watch a video, or have a conversation with a mentor. Apply one thing and block out all of the other noise. If you do this consistently, you’ll make tremendous strides.
Grow With Green Residential
At Green Residential, we make it our mission to help you be a better real estate investor and rental property owner. We do this by offering best-in-class comprehensive property management services. If you’d like to learn more about how we can help you maximize the ROI on each property you own, let’s chat!