5 Networking Tips for Newbie Real Estate Investors
You’ve probably heard it many times - networking is the staple, the holy grail of real estate investing. It’s true. Without building a network of valuable connections, you are likely to struggle with finding deals and opportunities, as well as getting things done in the industry. As they say, team work is dream work and that applies to real estate investing too, even though you might have thought of it as an individual sport. The truth is, networking can take you much further along your path. You should never underestimate the power of having good connections. With that said, here are five networking tips for newbie real estate investors to help you start building your community!
#1 Join Local Organizations and Groups
One of the best ways to expand your network is by joining groups and organizations related to real estate in your area. If you can’t find any, you just have to dig deeper and see if you can connect with colleagues, agents, or other investors who might point you toward the right group. The bottom line is, no matter where you’re located, there are always going to be groups you can join, either big or small. Organizations that meet on a weekly or monthly basis can introduce you to other local professionals and business owners, which can be crucial to your networking efforts.
#2 Attend Conferences and Real Estate Events
Besides joining groups, whether online or in person, you should be on a lookout for real estate conferences and events in or outside of your area. Try to prioritize events that include your target market for networking. In this case, those would be real estate agents, buyers, or investors. However, it wouldn’t hurt to expand your circle and network a bit outside of your bubble. You’d be surprised how many great opportunities you can come across just by connecting with as many people as possible.
#3 Be Active on Social Media
Given the current situation with Covid and everything that’s been going on around the world, chances are the opportunities to attend in-person events are limited. With that in mind, you should consider putting more time into social media and online networking. Be on a lookout for online events and stay active on your social networks. For example, Instagram is a great place to connect with new people and build your community. I’ve been using it religiously for the past year and it’s proven quite useful in networking.
#4 Build Your Team
I already wrote an entire article on why it is important to build your real estate team and how that can help you progress in your career. However, building your team will also expand your network quite significantly since you will be able to use some of your team members’ connections as well. For example, setting up a team of experienced contractors, property managers, and lawyers means having access to their connections in times of need. Make sure to select competent and trustworthy people for your team so that you can rely on them properly.
#5 Engage in Your Local Community
Lastly, make sure to engage in your local community any chance you get. Being active will not only help you build a name in the industry but it will also expose you to other names in your field and outside of it. Sponsoring events that are close to your values, volunteering for important causes, and engaging in local media such as radio shows and podcasts are great ways to stay engaged in your community and spread the word about your business and ventures in real estate.
Use Your Connections Wisely
Remember that your networking efforts are supposed to help you find potential clients but also partners and people you can work with. If you’re using your network to its fullest potential and continuously improving upon it, it will be nearly impossible to run out of leads. With that said, try to insert yourself in as many situations as possible where you have to communicate and exchange cards with other individuals in the industry. This will give your business a much better chance at succeeding long-term.