Whether you consider becoming a real estate investor or you’ve just started and are still new to the real estate investing world, you should know that building a network is one of the most important things you can do to build and grow your business. This includes visiting events, meetings, conferences, but also virtually connecting to expand your circle of contacts.
So, you are probably wondering which of these real estate investing (REI) online forums (or groups on social media) and offline meet up groups are worth your time. To help you decide, let’s see what you can expect from real estate investing forums and real estate investing groups, what kind of people you’re likely to find there, and, of course, give you some specific groups and forums that you can check out. That way you can make the decision for yourself, so let’s get started.
Real estate investors come together to network, to learn, and to share the latest trends and news in the industry. These groups serve to close the gap between reading about it and actually doing it.
Knowledge is readily available these days. You can read the outline of a specific real estate investing strategy anywhere, anytime, and learn the mechanics of a real estate deal in one afternoon.
Real estate investing forums and groups allow you to become a part of an environment which is full of investors who’ve done what you set out to do.
Let’s check how that plays out.
The mammoth of real estate investing forums is Bigger Pockets (with 2 million members), but other forums, like REIClub, Connected Investors, and Property Forum, have a large membership base, too. They cover all real estate investing topics and the inputs come from experts and novices alike.
You can also find online groups that focus on narrow niche topics in real estate investing. They are usually hosted on social networks (LinkedIn, Facebook), and the members are interested in specific real estate markets or in particular methods or skills. Our Facebook group, REI Marketing Nerds, is a great example of this, where we share tips based on more than a decade of experience in digital marketing for real estate investors.
Forum members share your passion for real estate investing – you’ve probably tried to discuss these topics with friends and family, but they’re either not interested or not knowledgeable and enthusiastic enough. In a forum, people are willing to discuss real estate, just like you, and willing to share their experiences and knowledge which can help you out to get started and make new connections.
Networking comes naturally – relationships are forged as members discuss real estate investing issues. You can connect with professionals without feeling the pressure typical for networking events. People find spouses online these days, and you can probably find a business partner if you need one. Plus, you can check their track record through their activity in forum threads in the past.
You’ll be in on the latest news in the industry – this one’s really important. Forum members share their experiences (both good and bad), they talk about hot trends in real estate markets, you’ll get feedback on new methods and new software you’re considering using, etc. It’s a conversation you want to be a part of.
Every post on the forum is biased – you will have to use your discernment because accounts are filtered through the unique lens of each member. Forum members can do this intentionally (spread misinformation, lie, etc.), to increase their exposure within the community, but they can also filter out important pieces of the puzzle based on their outlook on life (for example, to glorify their success, or to downplay their failures).
Make sure you compare apples to apples – some posts might not relate to your personal real estate investing journey. What works in a big market (Florida), doesn’t work in the Midwest (Iowa). State laws and regulations might differ greatly. Also, the success of a particular real estate investor might be based on a resource or ability you know nothing about, and they simply take it for granted when they share their story. For instance, they’ve done SEO for 4 years, and you are just starting out.
People get carried away and forget about netiquette – discussion on forum threads can get out of hand. It’s an online interaction and members might say things they’d never dare to say in person. There is a respectful way to disagree with anybody’s opinion: once you become a member, make sure you follow forum ethics.
The activities of real estate investing groups and interactions are in person (or at least that was the case before the pandemic). Usually, these groups have regular meetups (once a month or more often) and/or organize special events. Some of these events and meetups are for members only (membership fees are in the hundreds of dollars), but from time to time there might be an event that is open to the public.
If you are a novice, you should double-check the purpose of the group, because there are different types of real estate investing groups. For example, a real estate crowdfunding platform for passive micro-investing can be labeled as a real estate investing group, however, they don’t do what real estate investing businesses do, they simply invest in property instead of putting money in the bank. Let’s put it like this: if someone asks you to sign binding agreements and contracts, you are probably in the wrong group – real estate entrepreneurs just pay the membership fee and they are in, there is no legal obligation past that.
The National Real Estate Investor Association is the oldest nonprofit group in the industry, and they have local chapters across the US. There are other similar groups as well, for instance, the Real Estate Investing Association was established in the 1980s. You’ll have to check what kind of group is available for your real estate market.
Membership structure varies from group to group, however, you can expect to meet all sorts of professionals: private lenders, real estate agents, contractors, real estate investors, marketers, accountants, mortgage brokers, software developers, motivational speakers, etc.
If you participate in a mastermind event organized by a real estate investing group, you can meet investors who dominate markets. This is what our head nerd, Dan Barrett, had to say about the Collective Genius event in Tampa, Florida:
We absorbed so much insider information from people who are conducting hundreds of deals a year at a high level in terms of investing and business acumen. These are the individuals working at a deep level within their markets.
These are the types of events you want to attend to grow your business.
Many networking opportunities – every member, regardless of their professional field, attends real estate investing group meet-ups to grow their business. If you are a regular, then you’ll get to know people who are active in your real estate market. Also, since this is not a one-off event, it’s easier to build relationships.
Learning about the latest trends in the industry – and adopting new methods and processes before non-members do. You can attend free or paid courses on real estate investing strategies, marketing, financing, etc, but these topics can also come up during informal mingling with colleagues. You will keep up with what others do.
Coming together as a group creates a great synergy – everyone wants you to succeed because your success is their success. Private lenders cheer for you because you’ll bring them returns, contractors cheer for you because you’ll hand them rehab projects, marketers cheer for you because you’ll hire them for ad campaigns, and so forth. Plus, if you immerse yourself in an environment full of people who are successful real estate investors, chances are, some of their secrets will rub off on you. Even those who put the group together want you to make it because they charge you membership fees.
You’ll hear success stories and horror stories firsthand – real estate investors will share their experience in your market. Some will boast about the growth of their businesses, others will confess their mistakes – you can learn what (not) to do from both types of investors.
Members who are in the group to up-sell – usually these are the people who offer courses, but this applies to other products and services, too. Don’t let anyone up-sell you a course for something you can learn for free, or at a much lower price. Check the track record of the founders of the real estate investing group. Sometimes they are affiliated with the speakers or they earn commissions on each sale to their members, especially at events that are closed to the public.
Investors in name only – or people who are interested in the concept of real estate investing, but are not actual movers and shakers. Real estate investing groups are as strong as their members. If the group doesn’t have members with more experience than yourself, you might be in the wrong group. Check the real estate portfolios of members – if everyone is a novice, something’s off.
The journey of each real estate investor is unique. If you set out to become a real estate entrepreneur you’ll have to do some soul searching. Because, in the end, how other people did it doesn’t necessarily relate to you.
And there is no lack of dilemmas. Questions like:
force you to examine what works for you, and not for someone else, be they a forum or a group member. We all have different strengths. Some have issues with time management, others have issues with raising capital, some struggle with marketing and getting leads, others have poor social skills, etc.
Membership in real estate investing forums and real estate investing groups will bring you benefit over the long run. It can be a deal, a new professional in your network, a better in-house process, a creative financing method, or investing strategy. But, ultimately, it’s a rewarding experience.
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