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One Small Simple Step To Growing Your Network and Increasing Your Influence

by John Fedro on May 23, 2014 · 6 comments

  

Welcome back,

Everyone has to eat.

One of the best things I did when I started my investing career was ask two active local real estate investors out to lunch to get to know each other and chit-chat.

I did not only ask this from these two investors but continued taking different investors and real estate professionals out throughout my first year investing. By year’s end I closely knew over twenty active investors in my market.

The goal of these lunches is not to simply “pick brains” and ask questions. Professionals do want to have their valuable time and brains’ picked for a hour by some new investor.

Instead go out with the intent to make a friend, learn about them, and ideally help these other investors in some manner.

The end goal that you make a friend.

The reason for this is because you can always call a friend for help or guidance later.

Helpful Tips:

  • Simple is good. Unless they object a Wendy’s Restaurant, Chili’s Restaurant, or any local favorite of yours will work. Do not aim to impress anyone.
  • As you are leaving ask if you may call them should you have any questions or concerned moving forward.
  • Understand what they do and what deals they are looking for.
  • Understand their family life and how they got into business.
  • Ask what they would advise you do at this point in your career.

Your challenge: Ask 1 person you admire and respect (or have been wanting to get to know) out for lunch sometime this week when they are free. Set a time, date, and location.

Then come back and leave the story of your experience and the benefits it brought and leave it in the comments.

Love what you do daily,

John Fedro

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{ 6 comments… read them below or add one }

Michael Dorovich May 23, 2014 at 8:26 pm

Good advice!

Reply

John Fedro May 23, 2014 at 10:56 pm

Hi Michael,

Thanks for reading and commenting.

All the best,
John Fedro

Reply

Joseph Le May 24, 2014 at 10:38 am

Great reminder John. We always get a golden nugget when we meet up with a BP member. Simple, powerful and fun!

Reply

John Fedro May 24, 2014 at 12:43 pm

Great feedback Joseph. Thanks for commenting.

Talk soon,
John Fedro

Reply

Andy Teasley May 27, 2014 at 8:17 am

Great technique!

I claim 90% of what I know comes from meals eaten with “old guys” both the successful and the not so successful. I almost always take prospective sellers and lenders out for a long lunch and have had much siccess doing that.

One thing I have found, since I want a nice long lunch, I choose places with table service, since I find having to get up and walk accross the dining room to refill a coke breaks up the momentum. So I choose a nice local mid range place and support the locals (the owner might like to earn 7% in his IRA some day)

I also try for a 1:00 time so the place has calmed down a bit from the 12:00 rush and the server won’t be trying to clear us away for another setting.

Andy

Reply

John Fedro May 27, 2014 at 10:48 am

Hi Andy,

Thanks for reading and commenting. Thanks for the great additional tips with regards to table service and the time per day.

All the best,
John Fedro

Reply

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