What do thought leaders like Grant Cardone, Dean Graziosi, and Tony Robbins have in common?
They take massive action.
They know their self worth.
They preach radical transparency.
Those are just some of the traits and mindsets that propel them to stratospheric success.
Despite their success today, these business titans all grew up in difficult circumstances. Somewhere along their life journey, however, they met others who embodied who they wanted to become, and found mentors to keep them on track.
Then they paid it forward by creating and offering their own programs to teach, guide, and launch new generations of entrepreneurs.
Often in the real estate industry, we talk about investors and wholesalers as hustlers who grind it out day in and day out. Many would likely consider themselves lone wolves who join partnerships when advantageous, but who above all thrive on making their business their own.
I wrote this post with the medium-sized real estate investing or wholesaling business owner in mind. Someone who does 20-40 or more deals yearly and wants to experience exponential growth.
If you have a relentless need to succeed, read on.
In this article I’ll dive into:
What is a mastermind group
Reasons to join a real estate investor mastermind group
Topics that might be covered at a mastermind
What is the cost of a real estate mastermind group
What mastermind is right for you
How to find an investor mastermind group
High net-worth mastermind groups
Masterminds for specific investing models
What is a real estate mastermind group?
Real estate masterminds are groups of like-minded, driven investors that discuss strategy, brainstorm ideas, help other members pave a path forward, and hold each other accountable for meeting goals.
Even though you may already be successful and closing deals, there’s always someone out there with a bigger enterprise, a more powerful network, or more money to invest, period.
Those are the people that you want to surround yourself with and emulate.
Beyond that, there are other huge benefits to joining a mastermind group.
Reasons to join a real estate investor mastermind group
Veteran investors, especially those experiencing a plateau in their business, will find the support and connections they need to break through stubborn growth spots.
You’ll also find that masterminds help you:
Gain an Edge
As I mentioned, in a mastermind group, you’ll be able to learn from other investors more advanced in their businesses.
If you are lacking in some major aspect such as marketing strategy, negotiation, or closing, masterminds can close the loop and help you become even more competitive.
Holding yourself accountable for the growth of your business is vital. It’s important to understand exactly where you stand now, and where you want to be in the future.
You will need to be able to elucidate those goals to the group, so that they can nudge you when necessary and give you a high five when you meet them.
From swapping leads, to creative financing, to one-on-one introductions, your investor network will expand the type and volume of deals your business will benefit from.
Stay in the Know
You might have noticed that trends come and go in the real estate investing world. From the newest apps that increase productivity, to a declining marketing method, you’ll be able to stay on the pulse of what is new and happening, and what is working right now for others in your peer group.
Grow as a Person
Finally, joining a mastermind can propel not just your business, but also you personally as well – and in many cases to a completely different level.
Topics that might be covered at a mastermind
Depending on the knowledge level of the investing mastermind you decide to join, you’ll find a variety of topics.
For beginning investors, a mastermind might discuss topics such as basic deal analysis, how to get financing for their first deal, find lenders and cash buyers, property management or how to be a landlord.
For established investors, however, a mastermind group might focus on:
- Creating shifts in mindset to manifest massive income
- Introductions to and collaboration with other successful business owners
- Meeting investors to get access to new sources of private money.
How much do real estate masterminds cost?
While there is generally a fee to join a mastermind whose members are in the upper echelons of successful leaders, there is no cost to talk to the other members.
The typical fee of a real estate investor mastermind, just like the topics, is highly variable.
Expect to pay between $500 for a beginner mastermind and well up into the six figures annually for year-long access to high net worth participants.
Much also depends on the level of knowledge and expertise of the group leaders that you want.
If you have the money and desire to join one, you may be tempted to jump in and start looking for one immediately.
However, first you should establish exactly what you are looking to gain (and give – as masterminds are also about providing value) so that you recognize the right mastermind for you when you come across it.
I will cover that next.
What mastermind group is right for you?
Think about what will feed your “why,” what you need out of a mastermind, and what it will take to get you to where you want to be in your business.
Where are you right now, personally?
Do a reckoning of both sides of this equation: your emotional and financial state at this time.
Consider and reflect on the “why” behind your need for growth.
Is it to give your kids a better childhood? Prove something to yourself? Have financial freedom? Get unstuck? Ready to 10X your current deal flow?
Without understanding specifically what will drive you and help sustain you during frustrating and lonely times, you might find yourself drifting aimlessly.
Then, find a group that will help you feed your “why” and help you accomplish your goals.
Establish Your Vision
Anyone can say: “I want my real estate business to do 5 million in 5 years.” To get there, however, you need to have a clear vision of exactly what you want to accomplish – and a plan.
Only once this is established will you have a better idea of whether a mastermind group can help you achieve your goals, and whether they will push you to meet your vision.
Understand Your Limitations
One more question to ask yourself, is if there is anything that will stop you from making your vision a reality.
Do you have a hard time with business plans? Are you excellent at the big picture, but not so great with the little details? Or maybe you need help forming partnerships.
Know your limitations, so that you can get aligned with an investor mastermind group that can help you fill in the gaps.
Now that we’ve covered those considerations, I’ll list where you can find a real estate mastermind for investors.
Where can you find a real estate mastermind group?
The COVID era spawned thousands of virtual masterminds all over the world. Most real estate investor masterminds even now meet virtually online, making it especially easy to attend if you are investing remotely.
You’ll find many masterminds for real estate agents, and a fair share of those that cater to real estate investors.
Reach out to your local real estate investor association or real estate investor club to see if they have any recommendations for trusted in-person and online mastermind groups.
Ask around at real estate expos or trade shows if there are masterminds accepting new members.
Searching groups in Facebook often retrieves many public groups that are available for online learning and support, and private groups that you can look into as well.
Established high net-worth real estate masterminds
These are established masterminds that are geared towards knowledgeable, successful investors who want to scale their volume:
Grant Cardone Platinum Mastermind Club (1e9):
Grant reminds us that:
“Real estate is about the deals, the debt, and the equity. Who you know, who knows you & how they know you.”
Learn from and invest with 9 figure entrepreneurs:
“The FOCUS of this elite group of entrepreneurs and professionals is 100% ALL on Real Estate, Crypto, NFTs, and Private Equity deals: Learning, Connecting and Investing!”
7 Figure Altitude Program
“Altitude is the #1 Mastermind Group for House Flippers & Wholesalers. This community is for serious, experienced real estate investors who want to grow a scalable, profitable business.”
Collective Genius brands itself as “The #1 Mastermind for High Volume Real Estate Investors”:
Masterminds geared towards a specific investing model.
Below I list masterminds led by well-known founders and CEOs Frank Rolfe, Scott Meyers, Rod Khleif, and Michael Blank, respectively:
Mobile Home Investors
Mobile Home University
“MHU has been the industry leader in accurate information about the mobile home park industry for over a decade, having been established by Frank Rolfe and Dave Reynolds, who are the 5th largest owners of mobile home parks in the U.S., with over $500 million in assets.”
The Storage Mastermind
“Led by Scott Meyers, widely acknowledged as one of the leading experts on Self-Storage investing, the Self-Storage Mastermind is designed for highly-experienced Self-Storage owners and principals only. All members of the Mastermind must be entrepreneurial and have a proven track record.”
Rod Khleif Multifamily Mastery
“Rod Khleif is a passionate real estate investor who has personally owned and managed over 2000 properties. As one of the country’s top real estate, business, and peak performance luminaries, Rod has also built over 23 businesses in his 40 year business career.”\
Deal Makers Mastermind
“Deal Maker Mastermind is the largest, most active online community of multifamily real estate investors.”
Real estate masterminds are amazing forums for introducing you to new people, concepts, and ideas through collective thinking. They stoke creativity and allow you to see solutions to problems that you would never have thought of on your own.
When you find the real estate investing mastermind that feels right – the members are aligned with your business model, goals, and values; they meet consistently; and you feel that you are truly getting value from the group, then your business will experience benefits for years to come.
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