Like many businesses, the world of real estate investment is all about who you know. Having a strong network and making a name for yourself is essential to succeeding in the long run. To build up a real estate network, you’ll need to cultivate relationships with a variety of local contractors, wholesalers, real estate agents, and other professionals in the industry. Every time you meet a new person connected to the field, you’ll have another opportunity to get your name out there.
Those who have been in the business for years will have built a strong network over time, while beginners have their work cut out for them. It can be difficult and intimidating to build a network from scratch, but it is essential to get anywhere in the real estate business. Real Estate Elevated offers these tips to help beginning real estate investors start building their network.
Find a Mentor
If the idea of building a whole network from the ground up sounds intimidating, focus on finding just one person: a mentor. Having a real estate investing mentor will be a huge help for you throughout your career. Find someone who has been in the business for years, and go to them with questions and for advice. Your mentor can also help you make valuable connections.
Attend Networking Events
Your career will take off if you commit to attending several real estate networking events each year. Many of these events include speeches and panels by investors who are veterans in the field. Listen carefully: these professionals will share a career’s worth of advice and best practices, and you have a lot to learn from their experience. Chat with the presenters if you can to introduce yourself and expand your network.
Meet the Right People
If you don’t know any real estate agents or brokers yet, what’s the best way to meet some? Networking events for people in the real estate business. These are attended by attorneys, accountants, contractors, mortgage lenders, and others. The best way to meet new people in the field is to go to events they attend. Make sure to introduce yourself to get your name out there and find people you can work with in the future.
Get Inspired
Chatting with fellow investors at networking events is a great way to find inspiration to motivate your own business growth. When you chat with successful real estate investors, talk with them about their strategies, get advice on flips you’re working through at the moment, and discuss their portfolios. Sometimes when you’re feeling down about your prospects for success in the field, it helps to meet someone who’s made it and discuss their methods and experiences. Exchange numbers with people you meet, and occasionally take them out to lunch to ask for referrals to expand your network, or to pick their brains for investment advice.
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