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Dave Dubeau [00:00:07] Everyone, this is David Dubeau with another episode of the Property Prophets Real Estate podcast, we’re doing a Spotlight interview today with Nick Beveridge, who is coming to us from Coeur d’Alene, Idaho. And he is one of the main movers and shakers with the North Idaho Real Estate Investment Club in court of late. I think you’ve got two different places that that you guys are holding meetings. Is that correct, dick?
Nick Beveridge [00:00:32] That’s right. Yeah. Well, welcome to better myself. Thanks for having me.
Dave Dubeau [00:00:37] My pleasure. So, Nick, tell us a little bit about your club urea and what it’s all about. Like, how long have you guys been going? How often do you meet? How many members do you have those kind of things?
Nick Beveridge [00:00:50] Yeah, so I started it. I want to say close to seven years ago or so, right at the start of 2015, the real estate of the real estate agent and I had just gotten into investing. Finally, at that point, I’ve been always wanting to be an investor. So I decided I was kind of sick of making cold calls all day and work with retail buyers and sellers. And I wanted to work more with investors. And I remember hearing a podcast with the guy in Alaska that built a real estate team through these networking events that he put on every month. And I basically just copy the system and it the first. I remember the first meeting I had, I had, like forty four people show up nice and in a normal in my normal real estate career, trying to get 44 people to meet with me would have taken a whole year. So I just thought it was, you know, an incredible opportunity that nobody was taking advantage of in the area. And I just thought, Hey, it makes sense to want to work with people that are obsessed about real estate and just bring them to you. Yeah, and that’s this club really worked it out is interesting.
Dave Dubeau [00:01:58] So there weren’t any other clubs in the area at the moment or you just decided to start your own as well.
Nick Beveridge [00:02:04] They really weren’t. There really wasn’t anything in North Idaho. There was a club that was held monthly in the Spokane, Washington, area that a lot of people went to. And it became it became kind of like a salesy. They’re always pitching or something and then turned into like a network, multi-level marketing type of education sales pitch. And it just kind of went away from education and more towards, you know, you just feel like you’re out a sales pitch, just a different feeling. So I just wanted to create something just a little bit different, more pure networking, give everybody a chance to work with each other, give everybody a chance to speak. It also kept me fresh, and I had to keep up with what’s going on in the market every month because I would present market updates with the realtor market. I had to work on my personal development skills because I was scared as hell to talk in front of people. But I got over that within a few months. Liquors certainly helped
Dave Dubeau [00:02:59] us to do that after the meeting.
Nick Beveridge [00:03:01] Yeah, yeah. With me, I just took a shot or two before this. Feel a pretty open book by now, but it’s been going. It’s been going great ever since, you know, I was just I was on my own back then. Yeah, and I’ve got a team of theirs currently 12 people on our team. Wow. And my real estate sales business and we all invest in real estate as well. I also have a construction company, a media company and have a nice portfolio rentals now, then the well drilling business and just all kinds of great stuff that has come out of it. And it’s all thanks to pretty much just starting this little hub of getting people together every month. And no matter how little experience I had at the beginning, I was looked at as the expert that everybody wanted to meet with and kind of went from there.
Dave Dubeau [00:03:48] Oh, that’s wonderful. That’s a great inspiration for folks that are in smaller areas that perhaps don’t have Rhea’s or investment clubs locally is just go out and start your own. Why not? It makes sense, right? So what does a club look like these days from five years ago till today, you started off with forty four people? How many people do you have? Part of the class part of the club now,
Nick Beveridge [00:04:12] you know, it’s pretty much the same. We have anywhere from probably 30 to 55, five or so people that usually show up every month. A lot of them are regulars. We always get a few new people. And over time, I’ve noticed for sure the first few months or the first year or so there were a lot of rookies. There are a lot of people that inspiring investors haven’t done anything. And now the overwhelming majority of the people are investors, and it’s just really cool to see some of those people that knew nothing. And eventually, we’re able to kind of build a nice big investment businesses out of just constantly showing up and networking because I mean, you’re
Dave Dubeau [00:04:51] seeing other people doing what they want to be doing.
Nick Beveridge [00:04:53] Yeah. Plus you’re surrounded. You’re in a room full of people that are going to help you out in one way or another. You’re in a room full of wholesalers, seasoned investors, hard money lenders, contractors, title people. Lender, other commercial lenders, and you can almost do a deal just sitting in the room, just going from one person to the next. Yeah, no doubt. And that’s I think that’s half the battle. When you’re new in real estate, investing is just getting to know people and coming to these events regularly just makes sense to me.
Dave Dubeau [00:05:26] So what’s the approximate population of your city, the area, the mark?
Nick Beveridge [00:05:31] Yeah, the area around 100, 100 thousand or so, OK.
Dave Dubeau [00:05:34] Yeah, so yeah, fairly small. Yeah, that’s. Yeah. So that must be fantastic. Having a hub where you know it can be a lonely road to follow as a real estate investor, if you don’t hang out with other people and kind of get you. So I can see that being a huge yeah.
Nick Beveridge [00:05:53] Yeah. And I think some people just have a false view on, you know, working with other investors. They see them as sometimes they see them as potential competition.
Dave Dubeau [00:06:01] Right. So what’s your take on that, especially in a small town, even?
Nick Beveridge [00:06:04] Yeah, in a small town, I feel like there’s still plenty of deals for most people and plenty of opportunity for partnership. And when you’re doing multiple deals, you’re going to run out of money and you’re going to want to partner people. So it’s I don’t really believe that competition is something that anybody should worry about when they’re starting out.
Dave Dubeau [00:06:25] Yeah, definitely. And so like I said, it’s a lot more about collaboration, that’s for sure. So what kind of topics do you guys cover in your club? You, you meet once a month, you meet more than that. How does it work and how do you come up with different ideas? Or do you kind of go through a set schedule every year?
Nick Beveridge [00:06:42] Yeah. So what I found that works pretty well is we start off with everybody, just kind of mingles and everybody’s talk and we don’t really start for we start probably 15, 20 minutes late. And then I tell everybody to shut up, sit down. Let’s, let’s get started, or I’ll introduce myself pretty briefly and then I’ll let everybody have a chance to stand up and we zig zag around the whole room. Sometimes that can take easily a half hour. Stand up, introduce yourself. Let us know why you’re here and we want to get out of this and move to the next. And that part, I think, is the most important part, because then later, after we’re done with going over numbers and any guest speaker, there’s another hour there where everybody can get to then mingle again and network and share contact info. So after that introduction, I’ll pull up some opportunities. Like I’ll put my website and show people that if you need analyzer tools or anything, you can download them here for free. I’ll show them my podcast if you want to hear more. Because I also interview a lot of people locally here, the local seasoned investors. I try to get on my podcast and sit down and make it available for everybody to kind of easy access YouTube or iTunes or whatever they’re using. And then I’ll go over a total market overview where I show what’s been going on in the last six months. And sometimes I’ll show that report as compared to like six months prior to that and just kind of where the market’s moving. And just try to educate people on how to study the numbers in submarkets and try to get a little bit more specific instead of just the market as a whole and just try to get that back to relate to it. If you’re working on a certain fix and flip or something, it might be a good idea to have this report for this area to see homes and the five to six hundred thousand range. How are they doing? Impulse pulls, you know, so I’ll go over that. And that typically doesn’t take long, maybe five ten minutes for ten minutes if there’s questions, and then I’ll bring up a guest speaker who will talk about something to do with real estate. And it’s typically not. They’re not selling a book. Usually, they’re it’s an attorney talking about 10 31 exchange or the title company talking about the title process or lender talk and just letting people know what’s new in the lending world. So we’ll have different guest speakers, or if we don’t have a guest speaker, I’ll do a case study on a deal I’m working on or complete it. And then once that may take a good hour or so, depending on the speaker. And at the end of it, I’ll say, Hey, thanks for coming. We’ll draw a name for the book. We also give away a book every month. We have the millionaire real estate agent or the millionaire real estate investor books, right? And we give one away every night and they just have to go on and give us a five star review on Google or join us on Made Up Word or subscribe to one of my YouTube pages or something like that, and they have a chance to win a book. A lot of people over the years have won a book by now. So the only expenses are really like pay for cookies and coffee.
Dave Dubeau [00:09:42] And oh, it’s a free club. Is that correct? You don’t.
Nick Beveridge [00:09:45] It’s free. Yeah, we don’t charge anybody. I say it’s a marketing expenses for me as a real estate agent, but it’s super low compared to most people. Yeah, some people are spending 10 to 20 grand a month in marketing. Well, yeah. And we spend like three hundred dollars a month in marketing and we do it just as much business as some of the people that spend 20 grand. Yeah, just because we’re able to work with investors and keep overhead pretty low.
Dave Dubeau [00:10:10] So what would you say if somebody is watching this and they’re not part of a real estate investment club? I got to thinking about joining one. What would you recommend? What are the big benefits? We’ve talked about it a lot. Right in your mind would be like the top three benefits of being part. Of a real estate investment crunch.
Nick Beveridge [00:10:28] So one just to kind of get inspired to do something to networking with people that you’re going to have to work with anyway, you’re going to have to almost always going to have to work with the real estate agent you have to work with. So in title, you’re going to have to work with some sort of lender. And a lot of the times you could get deals from wholesalers. So getting to know these people is pretty important, almost like an instant team power. Yeah. Yeah. And I think, you know, face to face meetings is a lot better than just calling people over the phone and introducing yourself that way. There’s I think there’s something to be said about that. I think there’s nothing that really kind of replaces a face to face meeting. Yeah, definitely somebody wanting to potentially work with you. So those are the big reasons. Just get inspired. Get to know people that way. You can actually do your job. Yeah. People want to know what
Dave Dubeau [00:11:19] would be like your favorite members success stories or stops you in your mind.
Nick Beveridge [00:11:24] First, it’s been a couple. I remember this kid was super young when he first he started coming to my meetings, maybe a year into me doing this, and he had just dropped out of college and it was super psyched about real estate. But he had no idea how real estate worked or what he wanted to do on real estate. He was just excited to be there. And that’s always said success to be here and learn something, and maybe I’ll be a wholesaler. And it was just so cool for you, just kept coming and just kept absorbing information. And today he’s Typekit is a bigger hotshot than I am. And it’s not just him. I’m another guy that came in maybe a year after him and he became a millionaire. This other guy within, like two years of working at real estate and was able to move to Florida and built up a net worth of like $12 million dollars, just in a very short amount of time by just. And he started just by showing up to the club, said he’s working on a wholesale deal and just made $6000 by knocking on doors. And this guy was working full time in tech and had a family to take care of. It’s just really cool to see that those are inspiring the people that just start and then I’ll send that they just become wealthy and they’re just they just seem happier that they’re able to accomplish something like this just by not. And I’m sure those people would have done whether they came to our club or not, those type of things.
Dave Dubeau [00:12:45] But I’m sure I’m sure being paid for by other real estate enthusiasts probably helped a lot. That’s fantastic. So, Nick, if people want to find out more about you and your club, what should they do?
Nick Beveridge [00:12:56] You can go to North Idaho area income and you can see all our info there when our next meeting is where it is. We meet the first Thursday of each month in Courtland Repeat Keller Williams Realty building. And then the second Thursday of each month we meet up in Sandpoint at a local brewery. And that’s one where we drink a little beer while we’re having the meeting. So, yeah, a little smaller town, but there’s still a lot going up and up in Sandpoint.
Dave Dubeau [00:13:22] So now all of your meetings are in-person. You’re not doing one out of the whole pandemic thing. Affect things.
Nick Beveridge [00:13:28] Yeah. So when the pandemic first started, we did. We switch to like a Facebook Live video. We have like a private Facebook group, and we started doing live videos there when we did our first one. We are kind of not really bummed, but like, we’re doing it, we just noticed maybe like five or seven people are watching at a time as we did it for about an hour. Just kind of had fun with that and did more like a podcast style live event. And then I noticed about a week later, I saw that bit. Same video had like four hundred views, so it was kind of interesting to see, even though it got real people up front. It’s just kind of funny how a meeting online can be watched over and over again by, you know, how many people,
Dave Dubeau [00:14:11] what are you guys doing now you’re doing a hybrid or you’re just doing 100 percent live?
Nick Beveridge [00:14:14] Yeah. So we took about two months of doing it online and then we went back face to face meetings. You know, we’re in North Idaho, we’re all about freedom and didn’t have the choice. If you want to get sick or not coming with us, we try to take some precautions. We started hosting at Facebook Live as well. For those that can’t make it. So most of the time we have it on Facebook Live as we’re having a lot of fun as well.
Dave Dubeau [00:14:38] Well, Nick, thanks very much. There’s been a lot of fun and congratulations on getting your club up and running. And not only that but keeping it running and getting some amazing success stories out of it as well.
Nick Beveridge [00:14:49] Appreciate it. All right. Thanks, Dan.
Dave Dubeau [00:14:51] All right, everybody. Take care. We’ll see you on the next episode. Thanks for tuning into this special Spotlight episode. Now, if you’re a real estate investor and you’re looking to find private money partners and raise capital for your deals, then check out Money Partner Formula dot com. You get a free copy of my book. You can find out how to raise six figures or more in six weeks or less. Again, that’s money partner formula dot com.