8.1 – Exactly What You Need

Most people major in the minor things. Not you! If you are a working W2 professional the curriculum you have been learning is exactly what you need.

Not is the time to build your network (and to get away from the computer screen).

Where do I find a meeting?

1. BiggerPockets and REIClub has an active club listing
2. Go on Meetup.com
3. SPC Nation event: SimplePassiveCashflow.com/events
4. Seattle: https://www.facebook.com/groups/SPCHUISEA/
5. Hawaii: https://www.facebook.com/groups/SPCHUI808/
6. Portland: https://www.facebook.com/groups/SPCHUIPDX/
7. Bay Area: https://www.facebook.com/groups/SPCHUIBAY/
8. So Cal: https://www.facebook.com/groups/SPCHUISOCAL/
9. East Coast: https://www.facebook.com/groups/SPCHUIEAS/
10. Central USA: https://www.facebook.com/groups/SPCHUICUS/
11. My investor club: Simplepassivecashflow.com/club

A few notes:

• Most people who attend these things are about as green as you
• Most people do not have any money and therefore have to flip or wholesale
• Beware of Multi Level Marketing people they will sell you out to make a 10% commission for a crappy product
• Use this downloadable checklist

You have learned a lot up to this point. More than 90% of the people at these meetings are not really people you want to connect with as higher net worth passive investors.

Part of becoming an Accredited*** investor is having a strong network because I feel your network is your net worth only after your own net worth is greater than $500,000. By heading out to some meetings out there we are trying to start with baby steps even though the communities or events you have access to (except an SPC Event) will likely be off low quality.

Just go out there in the wild, mix it up a bit, and don’t invest with anyone yet.

***Here is my best attempt at explaining this… An accredited investor is a defined by the United States Securities & Exchange Commission as someone who makes a minimum of $200,000 ($300,000 if filing jointly) or has a net worth of 1 million dollars excluding personal residence. The significance of being an accredited investor is that you can invest in things that those with less money, cannot. You can also be something called “a sophisticated investor” which has a much more nebulous definition but essentially says you know what you are doing even if you don’t have that much money. These laws were put in place long ago to “protect” the average person from predatory activity. The irony of this all is that there is no protection for the average Joe, or pension funds for that matter, against investing in a wildly bloated stock market at record valuations. Every major trader out there knows we are in a bubble but there is no protection for individuals dumping money into their retirement accounts to buy mutual funds. It’s an archaic system which makes little sense. Certainly, there has been some recognition of this fact. The 2012 JOBS act made it easier for Main Street America to participate in “alternative” investments via crowdfunding and made it easier for sponsors to advertise previously unknown opportunities. However, we have a long way to go. I would advise you that you need to know the lead syndicator personally. None of this “we met at a local REIA and he pitched me his deal”. If a guy does not have a list of solid investors they must lack the track record. Also I did a podcast with Amy Wan a syndication attorney talking a lot about this topic.