Posted by Ron (MD) on February 16, 2002 at 15:36:31:
I’ve been going to these meetings since I started with REI four years ago. This week’s meeting is probably not a great one for you because the speaker is discussing commercial REI…on the other hand, you may have an interest in that.
Typically, there are about 150 in attendance. The large majority are investors (or wannabe investors). The format of the meeting is: buffet dinner starts at 6:30, during which you can chat with other investors. At about 7:00, they have a “quick pitch” where vendors and investors take a minute or two to pitch a product, service, property, etc. During this time, there are likely to be a couple lenders, a couple attorneys, a window company, lead inspectors, maybe a realtor, or two, a couple investors looking to buy or sell properties, etc. (I found my carpet guy and roofer during this part of a meeting a few years ago.)
Following the “quick pitch” is the formal presentation. Normally, this is a national speaker who is there to sell a course. Last month was Mr. Landlord, next month is Bill Bronchick. Usually, their presentation is about 1 to 1 1/2 hours, which includes a ten minute sales pitch. Finally, many folks hang around and gab til 9:00 or later.
This particular club is heavy on landlords and very light on creative financing types.