I am constantly amazed at the level of sophistication the professional real estate investors have here in the San Francisco Bay area. Last month, I met many business savvy investors in the evenings and weekends as we attended various real estate meetings.
If you'd like to read more than the summary below, check out my detailed meeting notes on Finding Off-Market Properties I'm giving away FREE here.
Quick summary of what was discussed:
- What is the progression/ evolution of a private lender's career? Learn To Become A Hard Money Broker (Bobby Sharma)
- How are the professional real estate investors snapping up off-market deals? Learn four impressive strategies for finding distressed properties that work anywhere. (Farooq Khan, Kevin Roberts, Gary Digrazzie)
- Is the market going to experience another correction soon?
- Banks' lending criteria are starting to relax. (Doug Smith)
- There is an overall shortage of homes on the market. (Tom Wilson)
- Chief economist of Fannie Mae is watching two economic indicators that will signal the next market shift. (Doug Duncan)
Highlights of meetings attended:
1. San Francisco Passive Income
Focuses upon connecting investors and deal sponsors to fund projects faster together. Bobby works full time in technology and on the side is an investor, coach and entrepreneur who hosts 13 different meetups around the Bay.
- Cost: FREE (and usually pizza provided)
- When: Monthly
- Location: New York Life building in San Mateo
- Average group attending: 15-25 people
- Meetup group subscription: 5,500 across 13 meetups
- Host: Bobby Sharma (Bayflip.com)
- Free pizza (sponsored by NY Life).
- Easy commute - five minute drive from downtown San Mateo (Central Pennisula), close to US-92 and 101.
- Knowledgeable speaker on various topics.
- Sponsors multiple meetups so one can develop rapport more quickly.
- Bobbie discussed becoming a hard money broker but had not setup his fund nor discussed the legal requirements in detail (yet). More to follow I'm sure.
2. SF Bay Area Investors Club
Small group of investors that gather to listen to a seasoned veteran speak on various topics and deals he has done in the past. He has a family business that his wife and daughter help run.
- Cost: FREE
- When: 3rd Wed of every month, 7 - 9:30 pm
- Location: Balentine Business Park
- Average group attending: 10-20 people
- Meetup group subscription: 1200+ members
- Host: Farooq Khan (real estate agent and investor)
- Good for those investors looking to go full-time into real estate as Farooq discussed step-by-step how to find off-market deals. (The detailed notes are amazing on this. Get yours here.)
- Many good stories and lessons.
- Does not preach the market will continue to go up; been in real estate over 20 years and knows how to survive the cycle changes.
- Fairly long meeting (easy to step out when you need to though).
- Challenges with the overhead projector slowed down the meeting a bit.
3. San Jose Real Estate Networking Club
This meetup has quite a following with over 2,300 members. This is the second time I've been to Jeff Pollack's meeting. This time, Jeff brought in guest speaker, Kevin Roberts.
- Over 500 deals completed to date since 1984.
- Spends $20K/ month on marketing (average cost to acquire a deal = $7K).
- Gold mine of information for how to find and close on distressed properties. (Grab my FREE detailed notes here for more nuggets.)
- The Bay is currently supporting "Whotel" - his term for a property that should be sold to an investor (i.e. wholesaler) but instead it is bought by a retail home owner who will fix up.
4. Bay Area Buying Houses For Profit Group
This meetup brings in great speakers who are looking for partners or mentees. This is the second time I've been to Raul Luna's meeting and this time he brought Gary DiGrazia, a 40 year veteran and a godfather of probate real estate.
- 90% of probate deals he finds are settled out of court.
- What day is best to negotiate with a personal representative? Friday night so attorney has the weekend to review.
- How to find probate cases and market to them. (Grab my FREE detailed notes here for more nuggets.)
- Cost: $45 single entry (OUCH!)
- When: 1st Thur of every month, 7 - 9pm
- Location: Domaine Hotel in Sunnyvale
- Average group attending: 80-100 people
- Host: Lori Greymont
- Massive ballroom to accommodate speed networking.
- High quality speakers with decades of experience and billions of dollars in assets under management.
- The speakers Tom Wilson and Dr. Doug Duncan shared multiple pages of notes worth of great information.
- Steep entrance fee and membership, however worth it if you are attending regularly.
- Parking is limited - get there early or park a few blocks away.
Again, I gathered valuable information about Finding Off-Market Properties in the past month. Get your FREE copy of my notes on the topic here. A few other interesting things I picked from the meetups this past month are:
- Amazon is getting into the real estate business.
- Panama canal expansion will allow greater imports and exports.
- Houston after Hurricane Harvey picked up in sales by 4% year over year.
- We are currently in the third longest economic expansion in history. Two more years and we will be in THE longest one in U.S. history!
How do we compare to others?
6. Real Estate Investor Meetup (San Mateo)
Small mastermind group where we focus on interactive discussions, from the seasoned investor to the new. We gladly welcome new members interested in learning more about investing safely, building trust and establishing great relationships.
- Cost: FREE
- When: Every month on a Wednesday, 7 - 8pm + networking after
- Location: Bobabia in downtown San Mateo
- Average group attending: 8-12 people
- Meetup group subscription: 180+ members
- Host: Kevin Peterson (private lender)
- Mastermind group with years of experience in private lending, rehabbing, developing and being landlords.
- If you have questions, we either have answers or can get answers.
- It's a small group so you can get involved and contribute.
- Deal making is welcomed and encouraged.
- The group is growing and seating is becoming limited. If you RSVP, please be sure to attend.
- Parking can be a challenge but free after 6pm.
Topics we will cover this month:
- Who is investing in Houston or Napa after the recent disasters?
- What impact will the Trump administration have on the economy? (straight from the mouth of Fannie Mae's chief economist)
- What is happening to retail space, i.e. the malls of America?
- Is now a good time to buy Amazon stock? How does this relate to real estate?!
If you are interested in joining me on this month's exploration of real estate meetings around the Bay, feel free to shoot me an email at firstname.lastname@example.org.
Kevin + Kiri