Well, Joe just asked me to write a page to help launch the new website and the exciting enhancements to our now thriving Seattle Investor’s Club. Much comes to mind. I’d have to say that by far the most value I’ve experienced in my two years’ involvement is the results from networking with those I’ve gotten to know. The highly informative monthly meetings are part of the great benefit to being involved with our club. High powered, knowledgeable experts in a wide range of topics graciously present to us, asking nothing in return. They are enthusiastic about what they do and are eager to assist us as we build our investing businesses. I even changed insurance companies for my car as a result of one such speaker and save significantly each year.
We are easy to get to know, and we understand that basically we’re all in this together. We’re not in competition; instead we become friends willing and eager to pass on much vital information. To assist in this we have a private, invitation only, Facebook page that is an excellent resource for referrals of any kind, help with questions, blasting out member wholesale deals, and much more. Members range from King, Snohomish, Kitsap, Skagit, Whatcom, Pierce, and Thurston counties. We also have members in Yakima and Prosser in E. Washington and yes, even BC, Canada!
Being local is very important for getting accurate information about markets, a particular property, who is a good contractor to call, vacant property insurance, legal resources, investor friendly escrow companies, or specific Washington State laws that may be obscure to those from others states. Some members even lend to other members doing deals in the area. These are just a few examples of the wealth of benefits we can gain from those who are involved in our Seattle Investor’s Club.
I had made it a point to get to know everyone at my local Fortune Builders Immersion meeting where I met some 20 local new and seasoned investors. Two months later, 17 of us met as a group for the first time. We each shared who we were and what we were looking to accomplish. That meeting was three hours well spent. Over time we became more organized and our member base increased. I still keep my own club spreadsheet up to date with detailed information, and email it to those listed on it, so we all could benefit from each other.
Only four months after our first SIC meeting, I was astonished when Ken, a seasoned investor/builder, asked me to partner with him 50/50 on a deal he was working on. I was stunned. Ken said he had too many deals coming down his pipeline and needed someone to help fund as well as manage the details with him while he handled the actual repairs. I asked him, “Are you sure you want to partner with me? There are so many others here with far more experience and cash. I’ve only done one renovation so far.” He replied, “Yeah, but I KNOW you.” Networking…this made a giant difference in my rate of progress and in learning the nuts and bolts of residential renovation real estate investing. Thank you, Ken, and thank you Seattle Investor’s Club.
Come join us and ring the GONG!