Are you networking your way to success?
Every successful real estate investor I know gets most of their deals by networking. Are you networking in all the ways that are available to you in real estate?
There are numerous real estate investing meetings out there. At these meeting you will meet many people who have the same goals that you have. Their focus is to find deals and make money in real estate investing. However, are you networking in ways that most others aren’t?
For those of you who have flexible schedules or your J.O.B. isn’t a day job, you may want to consider going to some non-real estate specific networking events. These events have people who may come across real estate deals, but, do have the knowledge or the desire to work them.
For example, you may attend a BNI (Business Networking International) meeting. At a typical BNI meeting you will meet a local real estate agent, real estate attorney, estate planning attorney, financial planner and others who may bring you real estate deals or others who may be interested in investing in your business. There is a weekly time commitment and a financial commitment, but, when you have a group of business professionals looking to bring you deals, it’s worth the time and finances. The great part about BNI is they only allow one seat per business type and there are few real estate investors in any of the groups. You are allowed to visit any group who doesn’t have a real state investor in the group. And, you are allowed to visit each group 2 times before making a commitment to join any of them. There are hundreds of groups in MA and NH. So, that opens up lots of networking opportunities for you.
Aside from BNI, there are a ton of networking opportunities out there. They can be specific to something you love to do or specific to business. Just go to meetup.com and do a search in your area. You can also join the local Chamber of Commerce. You will meet a ton of people in the business arena. I have a friend who went to a Chamber of Commerce meeting that was held at an assisted living facility. He made a connection with the head of the assisted living facility and has received 3 deals from there to date. He was introduced to the children of the clients moving into the facility who had homes and they needed to close fast to help pay for the facility. So, it has been a win-win-win situation for all involved.
The key is you never know who will bring you your next deal. So, get out there, network and meet some folks.
Bernadette Trafton, Chief Connector