Yesterday I attended my first networking event aimed at real estate investing. I had previously reached out to Joe Arlt via LinkedIn because I saw that he was local and referenced in the The Millionaire Real Estate Investor. I was hoping to find a mentor. Instead, he invited me to a networking event that he organized.
Joe runs both the DC and NOVA real estate investing clubs. Since I had read about his success, I decided to attend. Although somewhat skeptical, these clubs seem to be legit. I did spend $100 for a 1 year membership, but considering there is a meeting per month, I see it as dues to help Joe offset costs for renting the hotel conference room. In addition, Joe offered, for the price of the club membership, free tickets to attend what is called The Big Live Event.
During the night's agenda, Joe started by playing a video from Phill Groves, who appears to be a credible real estate investor and educator (YouTube channel). He runs the Big Live Event and sells education and software. He emphasized how critical it is to market and find leads.
Spend 85% of your time marketing and looking for deals.
The biggest takeaway from Phill's video is that investors should not focus only on one method of investing. Instead, he argues that the seller's problem should dictate the strategy. So, I would take it a step further and argue that we need to have empathy for sellers. Listen, really listen to their problems so you can find a win-win solution for all.
Successful investors seek to solve the seller's problem with creative financing strategies. They can monetize any situation because big problems equal big opportunities.