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RUNNING A SUCCESSFUL REIA MEETING
directly by having speakers come every few months and offer
products, but the REIA in and of itself is a means to build his other
business.
My REIA, Lifeonaire REIA, has a purpose as well. We provide the
best real estate education on the planet because our goal with the
REIA is to lend money to real estate investors for their deals. We
want to become the top lender in St. Louis and put millions of
dollars out on the streets. The way we figure it, since lending is our
ultimate goal, we work hard to provide excellent education,
knowing that the more we teach people how to find and do deals, the
more they'll go out and do the deals. Then, a certain percentage of
those members out doing deals are going to need money for the
deals we taught them how to find. We know that not everyone is
going to need our hard money loans, but we also know it's a
numbers game and many people will need our services. We provide
the most incredible training through the REIA, and we get what we
want in return. Granted, we'll also have national speakers at our
meetings four times per year, and that will be very profitable, but it's
also not the only reason we started the REIA. For us to work with a
competitor in our area is without a doubt a win-win.
So how do we help each other? Simple. I tell people at our REIA
that we're not the only game in town and that they can benefit from
also attending our competitors REIA meetings. The owner of South
Side REIA (our competitor) has no problem with this because he
knows he's going to get clients out of it to accomplish his goals with
the brokerage. He then in turn sends his REIA members to my REIA
as well, knowing that I have no desire to compete with his
brokerage—I want to lend money. It's a win-win all over again!
For those of you with the scarcity mentality, please listen carefully.
Get over it for a minute and trust me on this one. Give it a try!
You'll be surprised at how much you can benefit from this approach.
And if you're worried about competition, you're probably under the
delusion that your members are never going to find out about "that
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