Best Way for a New Investor to Start Networking?

Question

Bo Smith · Answer

Skip local meetups in Dallas if you're leaving in a year. I know that sounds harsh but it's true -- by the time you'd build real relationships there, you're already gone. Your effort in Dallas should be hyper-focused on finding deals and learning your market for the next 12 months. That means REI meetups are actually useful, but only for deal-finding partners and contractor names you can take to Phoenix.

Here's what works: start with agents first. Find 2-3 agents in your Dallas area who focus on investment properties, take them to coffee, and ask them what deals are hitting the market. Agents talk to each other. Build those relationships now. At the same time, start connecting with lenders (hard money shops mostly) -- they've seen every deal in your market and they know who's actually buying. Those connections are portable to Phoenix later. Contractors and service providers are next; ask agents for recommendations. You don't need 20 contacts, you need 5-7 who actually move the needle.

When you get to Phoenix, repeat the same process. You'll already know how to vet deals and find capital, which puts you way ahead of most new investors. Are you planning to do flips or rentals in Phoenix? And do you have any experience in either yet, or is this all new?

Bruce Lynn · Answer

I would just start with Phoenix.  Plenty of opportunity there.

Start finding your network of REI groups, your team, lenders, realtors, etc.

Get on all the wholesaler lists so you start seeing what they're sending out, prices, focus areas, etc.

Get a realtor to set you up with a search of properties in your price range.

Read all the books you are going to read.....20 books between now and move time.

Hit the ground running when you get there.

I would not waste time in Dallas unless there is a chance you don't move.

Mason Weiss · Answer

Hey Joshua, I would connect with investment Realtors/lenders and then also investors themselves. Ideally find someone who can start sending you opportunities now so you can start to understand the new market and what you should dial in on as you get closer to your move date. There are a few good meetups throughout Phoenix but obviously those are hard to hit when you are out of state. I do my meetup once a month on Saturday mornings but that is difficult to plan a trip around.

Kodie Talley · Answer

I'm going to provide a different perspective than others on this thread. I actually think it could be useful making connections and building relationships in Dallas. You never know who you could meet, what they could teach you, and what the relationship could be even after you move to PHX. Any time you can engulf yourself in the jargon and have conversations with other investors is worth the time IMO. You'll move to PHX with more confidence talking to people in that market and have contacts to call if you need advice.

Patrick O'Sullivan · Answer

@Joshua, since you’re moving in a year, I’d focus on building connections that will matter in Phoenix, like investment agents, lenders, and a few reliable contractors. In Dallas, maybe meet a couple of agents and lenders to start learning, but skip large meetups unless they directly help with deals you can take with you.

Meanwhile, start following Phoenix REI groups and wholesaler lists so you get a feel for the market. By the time you move, you’ll already know where to look and who to work with.

Are you planning on flips, rentals, or both in Phoenix?

Best Way for a New Investor to Start Networking?

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