In this short post, I’ll explain how NETWORKING is the absolute best way to become successful as a real estate investor. Real estate investing is a powerful way for the average person to achieve financial freedom and replace their W-2 income, enabling them to live the dream life that they always desired.
But how does one get started in the industry? It’s not like most people have a rich uncle who’s willing to give them all the money and connections that’s required to start a business. If you’re like most people, you’ve heard of how lucrative real estate investing can be and are interested in the subject. But you have a huge problem. You don’t know anyone in the field, what do you do?
The absolute best way to become successful as a real estate investor whether you’re just starting out or are already deep into the business is to INCREASE YOUR NETWORK! It’s that simple, increase your network and you’ll find deals, money, mentors, friends, and people who will help you succeed in the business.
Don’t be scared! Real estate investors are the friendliest people I’ve met. In other industries and professions such as law or engineering, the people tend to keep a lot of information to themselves and they don’t like working with new people. For some reason, this is not the case for the real estate investing community. They are extremely open to sharing their information and will sit down with new investors, even though they know that there is nothing that this new investor can do for them. I believe that this is because most investors are avid readers, believers in abundance, and don’t have a fixed mindset. They believe that there are enough deals for anyone that is serious about the business.
It’s also possible that even though this new investor can’t do anything for the experienced investor today, it’s possible that within one year, the new investor brings the experienced investor a deal that will net him an extra $50,000. I’d be glad to grab a cup of coffee with a new investor for a potential $50,000 in the future!
Make sure you aren’t the person who just hands their business cards to everyone in the room when you go to networking events. It’s a quick way to get your card thrown in the trash. You have to make a connection with the person you’re talking to. Most people hate small talk, but it’s how people communicate to figure each other out and what commonalities they have between them. Make it a point to meet ONE person each time you go to an event. Over time, you will know a majority of the people in the room and your self-confidence will increase. You’ll feel like a senior member of the group and meeting new members will be easy.
The real estate investing community is small. Most people know each other and the same groups of people go to most of the meetups. Continue going every week and volunteer to help. My first rehab opportunity came from my check-in partner. I wouldn’t have gotten the opportunity if I just stayed at home and read books about real estate investing. That first deal increased my net worth, credibility, and self-confidence in doing the business.
The best way to find meetups is through Meetups.com. I try to go to at least 2 meetups per week. Some meetups are purely for networking where members gather at a bar and just mingle with each other. Other meetups have a keynote speaker who talks about their experiences with real estate investing and any tips they discovered to make your business run better. Make sure you stay for the “meetup after the meetup”. The best deals are done at the bar after the event is over! By going to the different types of meetups and asking people for lunch or coffee dates afterwards, I’ve been able to drastically increase my knowledge and understanding of the business while also making new friends in the process.
I host a meetup group in the Silicon Valley Bay Area. If you live in the area, I encourage you to attend any of our meetup events. You’ll learn a lot and will meet like-minded people. Who knows, you may find your next partner or million dollar deal through the meetup.
If you’re interested in learning more about networking or real estate investing in general, listen to my podcast at https://itunes.apple.com/us/podcast/everything-real-estate-investing-show-with-sean-pan/id1437898064?mt=2
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