New to networking
Todays adventure....
So I'm still getting my feet wet with the investment side of real estate. One of the things I see that seem very important in this business as in all business is networking. Trying to find that right group of people that can help you and vice versa seems difficult at times....
In about the span of a week I've talked to a lot of different people and have really started to build a buyers list, although I still need/want a bigger list of people to send to it amazes me the amount of response I get by just asking.
So I'd like to ask all of you seasoned vets out there to share a story on how you got started networking, which strategies worked best for you? What are some things that many new investors might do that they shouldn't? Any and all stories are welcome!!!
Comments (4)
Thank you all for all of the great insight! I definitely have ideas, but no action/business plan written down on paper! I will get to work on the ASAP!
Jason Miller, over 14 years ago
I have to agree, that it is important to know where you are going and then build an understanding of how to make it all work. A buyer's list is very important to wholesalers & flippers, but you want this list to more than a haphazard list of names. Ideally you want to have a buyer already identified for any property that you do find. There are lots of good threads in the forums on building a buyers list and what information you should collect. I know that I would rather have a small list of buyers that I new very well what they were looking for and that they had the ability to buy.
Account Closed, over 14 years ago
I second that Jason. I made that same mistake when I started and ended up wasting the time of a couple of people I spoke with. Not on purpose, but because I didn't know what I didn't know. Definitely get educated in your niche as much as you can before you get yourself out there too far. When networking with people, you should already have some idea of how different kinds of people will fit on your team. If you're talking to a realtor, how can they help you? And further more, how can you help them. When I started with wholealing for instance, I had no idea that a mortgage broker could help me in that niche. Boy was I wrong about that! So learn as much as you can from biggerpockets, courses, or whatever before you get out there and start talking to a lot of people. You will come across as more serious and educated when you do, whcih means people will be more willing to put time into you, and you will see more clearly how all the folks you speak with can fit into your plans, and you into theirs. Hope it helps
Joseph Ziolkowski, over 14 years ago
Jason - Welcome to investing. So you're working on a buyer's list.... have you mapped out a business plan? I'd strongly recommend starting there before doing anything else. Lots of newbies jump into building lists and networking before they know what their plan is.
Joshua Dorkin, over 14 years ago