In real estate investing, the emphasis is often placed on assembling a proficient team of brokers, lenders, insurance agents, and legal advisors. However, there’s another component equally crucial but less discussed: a robust network of peers. As an active real estate investor and the host of the monthly Willamette Valley Real Estate Investors (WVREI) meetup, I’ve personally experienced the transformative power of a supportive community.
Community: The Unseen Backbone of Success
Every real estate investor, whether novice or seasoned, understands the importance of having a reliable team. However, the role of a community—comprised of fellow investors who share their experiences, challenges, and solutions—cannot be overstated. This network serves not just as a brain trust for practical issues like layouts, contractors, and designers, but also as a moral support system that encourages and empowers.
From my early days attending local meetups to now participating in national conferences, every interaction has contributed significantly to my growth. The advice received has been indispensable, helping me navigate complex regulations and make informed decisions about property development and management.
The Willamette Valley Real Estate Investors Meetup
Based in Corvallis and drawing members from Eugene to Portland, the WVREI meetup I host has become a cornerstone of local real estate investment dialogue. Our meetings, held at 4 Spirits Distillery during summer and Papa’s Pizza in winter, are not only educational but also pivotal in building lasting connections. Topics discussed range from middle housing opportunities and short-term rentals to large-scale projects like apartment developments in Lebanon or building accessory dwelling units (ADUs).
Recent speakers have covered diverse subjects, including how staging can benefit property flippers and the strategies behind building a portfolio of 50 homes in just five years. These insights prove invaluable whether you’re looking to start your investment journey or aiming to expand your existing portfolio.
Building and Sustaining Your Network
Creating and maintaining a network in real estate isn’t just about attending meetings or events. It involves active engagement—asking questions, sharing your own experiences, and sometimes, being vulnerable about the challenges you face. Online platforms, like our Facebook group, extend these conversations beyond physical meetings, allowing for a continuous exchange of ideas and support.
Deepening Connections: The Value of Smaller, Dedicated Networks
While large community gatherings are invaluable for broad exposure to ideas and trends, the power of smaller, focused groups should not be underestimated. During my own investment journey, I’ve consistently relied on more intimate groups for deeper insights and mutual accountability.
One such group involves four other local investors with whom I used to meet bi-weekly for lunch. These sessions were crucial strategy hubs where we openly discuss our ongoing projects, finances and future goals. The direct feedback and perspectives I receive from this tight-knit circle were not only enlightening but also pivotal in refining my strategies. The routine nature of these meetings ensured that we remain accountable to each other, significantly reducing the risk of stagnation.
Simultaneously, and surviving past the local group, I am part of another remarkable group formed at the BiggerPockets Conference in 2022. Comprised of six investors from various parts of the nation, and sometimes even globally when traveling, we meet consistently via Zoom. This group’s diversity in location and experience broadens the scope of advice and inspiration available. Watching each member progress, tackle significant projects, and positively impact their and their families’ lives offers not just professional but profound personal motivation. Sidenote: We’ve even been mentioned on the infamous BiggerPockets podcast 🙂
These smaller networks serve as critical sounding boards and support systems. They complement the broader interactions at larger conferences by allowing more detailed discussions and personalized advice. For any real estate investor looking to truly thrive, establishing such groups offers a pathway to not only professional success but also personal growth and satisfaction. By investing time in these focused gatherings, you invest in the very foundation of your career’s advancement and sustainability. Like Jim Rohn said, “you’re the average of the five people spend the most time with.” So pick wisely.
COME JOIN WVREI!
If you’ve ever considered real estate investment or are looking to deepen your existing practice, the importance of a supportive community cannot be underestimated. The WVREI meetups offer a space not just to learn, but to connect with like-minded individuals who can embolden and caution you, ensuring you are well-equipped to make the best investment decisions.
We invite you to join us at our next meeting to experience firsthand the power of community in real estate investment. We meet on the second Tuesday of every month at 6:00pm. You can join our email list for information about our next meeting topic and location. Join our community online and in person to harness the collective wisdom and opportunities it offers. Your investment success might just depend on it.