303: How to “Supercharge” Your Real Estate Portfolio with Investor Meetups w/Spencer Carpenter

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 12 July 2023

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

The easiest way to supercharge your real estate portfolio? Host your own real estate meetups to build your network! If that sounds intimidating, you’re not alone! Many rookies let their lack of experience or fear of no one showing up stop them from tapping into this gold mine of a networking strategy. Today’s guest found it to be the fastest and easiest way to find wholesalers, buyers, and lenders for his real estate deals! Welcome back to the Real Estate Rookie podcast! In this episode, Ashley and Tony are joined by Spencer Carpenter—an investor who got into real estate with the goal of supporting his family members in retirement. After his first deal went south, however, Spencer lost most of his capital and could have easily given up on real estate. Instead, he doubled down and networked his way to a pair of house flips that he was able to sell at a sizable profit. If you’ve ever wondered how investors grow their networks to find better deals, this is the episode you’ve been waiting for! Spencer provides his step-by-step formula for hosting real estate meetups at little to no cost, while Ashley and Tony offer their best tips for vetting contractors and property managers. They also discuss working with hard money lenders and what can go wrong if you DON'T maintain an open line of communication! In This Episode We Cover How to host your very own real estate meetups at no (or low) cost Harnessing the power of networking to find wholesalers, buyers, lenders, and more The best ways to find and vet contractors for your rehabs Weighing your financial risk when analyzing real estate deals Red flags to look out for when hiring a property management company Why you NEED to get on the same page with your hard money lender upfront And So Much More! Check the full show notes here: https://www.biggerpockets.com/blog/rookie-303 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This says Real Estate Rookie Episode 300 and 3.
0:05.0	So your whole cello you met through a connection that basically came for your meetup.
0:09.0	Your first buyer literally left your meetup with you to go view your house.
0:14.0	And then that buyer's agent is the one that had the buyer for your second home.
0:18.0	And my private money.
0:19.0	And his private money lender.
0:21.0	Yeah. And his brother who was the first sell.
0:23.0	And your first sell.
0:24.0	So you got a wholesaler, two buyers, private money lenders, and subs.
0:28.0	All came from this meetup.
0:30.0	My name is Ashley Care and I'm here with my co-host Tony Robinson.
0:34.0	And welcome to the Real Estate Rookie podcast where every week, twice a week,
0:37.0	we're bringing you the inspiration, motivation, and stories you need to hear to kick start your investing journey.
0:42.0	And today we've got Spencer on the podcast.
0:46.0	And, you know, I feel like I say this all the time, but just I love this episode because Spencer talks about the power of networking.
0:55.0	And how is a rookie you can really use that to supercharge your business.
0:59.0	This guy found literally everything he needed for his real estate business through networking.
1:03.0	Yeah. And one of the things he talks about is how just buying pizza can add so much value to your life.
1:12.0	And as he was talking about this, I thought of my own personal circumstance where this weekend at a conference,
1:18.0	we all went to the one of the parties, the event hosted and everything.
1:22.0	And then everybody came back to the hotel lobby and I, you know, was like later on.
1:27.0	And so I door dashed a bunch of pizza to the hotel lobby.
	...

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