Tim Bell power team 7

Okay, so the next item on our list of important power team members is the real estate investment club, the REI club. Now, I've shown you in a previous video how to find the real estate investment clubs in your area. You can go on to those three websites that I explained. Number one was reiclub.com reiclub.com the second one was creonline.com, that's C R E online.com. and the third one is meetup, meetup.com. those are the three websites. If you'll go to those three websites, you will find every single real estate investment club in your area, guaranteed. You will not miss any. But you got to go through all three of the sites because some of them are listed on one site, some of them are listed on another site, and some of them are listed on another site. Some might be on two of the three sites, but none of them that I know of are on all three sites most of the time. So you, you have to go to all three of those sites to find a real estate investment club. Now, I will tell you there are three basic types of real estate investment clubs. When you attend the real estate investment club, you're going to find that they have one of three orientations. One of the orientations is what I call an educational club. Now, an educational club, basically somebody stands up at the front of the room and does a little presentation, everything. And then someone in the back of the room is typically taking credit card numbers from people. They're typically selling books or CDs or DVDs or coaching programs or various other different things they might be selling. That's an educational club. Now, an educational club can have some value to you, but it's not my favorite. Okay, here's the problem with an educational club. The main purpose, the main reason you want to attend a real estate investment club is very simple. It's the networking with the other club members and the president of the club that is the best opportunity. That's the main reason why you want to attend the real estate investment club. Well, an educational club is not set up to basically help you to network with people. That's not what it's for. Okay? It's not set up so that you can to help accommodate your networking with other investors. That's not what it's for. They're there to teach and to sell. Okay? So it's okay. The problem or the challenge that you have with an educational club is you need to take it upon yourself to instigate the networking. You need to take it upon yourself to pass out your cards and meet people there and all that. They don't normally accommodate that. They don't normally encourage that amongst the members. Okay, so that's the first kind of club. The second kind of club is what I call a networking club. Now, I think a networking club is the best kind of real estate club there is. A networking club is kind of like an Alcoholics Anonymous meeting. Okay. The first person stands up and they say, hi, my name's Tim. I've been addicted to real estate investment for 40 years. Yeah. Anyway, so they talk about what they have, what they want, what they. What they do, what they're looking for. And then they sit down. The next person stands up. I have this, I want this. I'm looking for this. Here's how we can work together. And then they sit down and they go all the way around the room just like that. Alcoholics Anonymous meeting. Everyone introducing themselves, talking about what they do, what they have, what they want, what they're looking for, and all those types of things, and then they sit down. Now, after that whole session has gone around the room where each person has had a chance to introduce him or herself and discuss and talk about what they want, then at that point, they have a little mix and mingle. Okay? They have punching cookies or drinks or whatever, coffee or whatever they have, and everyone stands around. And now, hopefully you were smart enough as they went around the room to take notes and note which person you were interested in talking to or which people you're interested in talking to that their needs, their wants, their what they provide can dovetail with what you need and what you want and what you have. Okay, that's ideal. Then during the little mix and mingle thing, you're going to go and you're going to consciously meet that person. You're going to exchange cards with them, you're going to talk with them. That's the best way. That's the ideal real estate investment club is that networking club where you can meet people who have things that you need, who may want your property, for example. Different things like that as a wholesaler. And there's lots of different resources there. Okay, that's the best kind of club. Now, the third kind of club is a hybrid of the two. It's. It has both educational components and it has networking components. Okay. Not quite as good as the networking club, but better than the educational club, typically because they do encourage and accommodate networking. Okay. Again, in my opinion, the best reason to go, the real estate investment club is for the networking opportunities. To meet other investors that are doing other things in your market that may dovetail with what it is you are doing and what you're proposing to do. Okay? Now, one other thing I want to say about real estate investment clubs. Well, two other things. Number one, find all the real estate investment clubs that are within about a two hour driving radius of where you live, okay? People will go that far to meet with other people who have similar interests, who have interest in real estate investment. So consider clubs that are up to two hours away from you driving distance. Okay? That's something that you should do. Now, the other thing is, I also recommend that you attend all the clubs within that two hour radius. I will tell you that some clubs are terrific. Other clubs are a total waste of time. Okay? The only way to tell whether or not a club is going to be valuable and helpful to you or it's going to be a waste of time is to go there. You just got to go there. You just got to spend the time to go there and check it out. Okay? Again, some clubs are wonderful. They're great. They have all different kinds of benefits and advantages, great networking, everything. Other clubs are just a total dud, a total waste of time. You're going to sit there for an hour and you're going to go, oh my goodness, why did I even drive over here? This is a total waste of time. Okay? But the only way to figure out whether a club is valuable or not valuable is to actually attend the meeting. Now here's a little tip for you. If you contact the president, owner, operator of the club. And by the way, on those three sites, reiclub.com, creonline.com and meetup.com they always list the club president, owner, operator or the person who organizes it. And they also typically list a telephone number for them. Okay? And typically they'll have a website. Sometimes they'll have an email address, sometimes they'll even have a fax number. Yeah, everybody know what a fax is? Okay? Anyway, so by looking on those sites, you can find those people. Here's my recommendation. Contact them in advance of the meeting and say something like this. Hi, my name is Tim. I'm a real estate investor. I'm thinking about joining your club. I haven't decided whether or not I want to join your club, but I'd like to attend a meeting to see if I want to join your club. If I like your club, I'll join. If I don't like your club, I won't join. But would you allow me to attend one of your meetings for free, Just so I can check it out and just so I can decide whether or not I want to attend your club. The vast majority of time, if you ask the owner, operator, club president that question, their answer will be yes. They'll say, sure. Just when you get to the, to the back table there, as they're signing people in, just tell Bill, he's going to be sitting at the table there. Just tell Bill that I said to let you in and he'll let you in without having to pay your fee. Okay? Real estate investment clubs always charge a fee. There might be one in middle America that's tiny that maybe charge you five bucks a meeting. Okay, there's one in Los Angeles that charges $100ameeting. And all of us go, Wow, $100ameeting. That seems like a lot. But I will tell you, the folks that go to that club are happy. They're excited to pay their $100. Why? Because they get so much benefit from that club. The networking opportunities are just spectacular there and they just love them. So again, there's going to be a bill to pay somewhere between five and 100 bucks, probably per meeting. The some of them have annual dues and annual things where it can save you some money and things like that. But again, remember, it's an investment in your business and it's an investment in you, so don't be cheap. Okay, Go to the real estate investment clubs. Okay, so that's basically the discussion about real estate investment clubs. I will just tell you one more story and then we'll leave this subject. I have a student on the east coast in Virginia and she, she went to a networking meeting. She went to a networking club meeting. And in that one club meeting, again, it was a networking meeting where they all went around the room and talked about what they did. In that hour or hour and a half networking meeting that she went to, she found every single person she needed to do a complete fix and flip transaction. Yeah, everybody. She found a wholesaler who was selling a property at a good price. The property needed some fix up. She found a buy and hold investor who wanted to buy a property that was turnkey, that was fixed up, that was all ready to rent. He didn't want to mess around with fixing it up. He wanted a property that was ready to rent. So she found a seller and she found a buyer. She found a hard money lender that would loan her 80% of the money she needed for the transaction. She also found a private lender who would loan her the other 20% of the money she needed for the deal. She found a title company that would do the title work for her. She found every. Oh, and she found a contractor to do the work on the property for. She found every single person she needed to do a complete transaction in that one hour and a half networking meeting. And three months later, she had a check in her hand because of the fact that she'd gone to that meeting. Now, that's the exception. That's not the rule, but it gives you a sense of how important and how valuable it could be for you to attend the local real estate investment club. So make sure you do that. A real estate investment club is typically a very wise use of your time.