Time may be money, but in the world of a real estate investor, the time spent networking could be priceless. You’ll meet others with similar experiences and the drive you have to make the most of your money and the effort you put into it.
You may also find complements to your own real estate business, whether you’re looking for an investing partner, trusted contractors, or top-notch property managers. Going to networking events may fill you with dread, or you might look at them as your next adventure.
Regardless, these real estate networking tips for investors might help you find like-minded others and make the most of your ventures in the world of real estate.
Consider getting a real estate license. Although you don’t need it to buy, hold, or manage properties, it will give you an inroad into networking and provide other benefits besides. You’ll have an inside loop to newsletters, have access to the multiple listing service (MLS) and have the credentials that will open more doors.
Most states have a minimum number of class hours you need and you’ll have to pass a state-administered test. Once you receive your license, you might need to find a designated broker if you want to engage in real estate sales yourself. Once you start networking, you may be able to participate as a third party, or earn finder fees.
The website, BiggerPockets.com, has a large network of members who engage in investments of all kinds and they’re well represented within the real estate community. Once you join, you can pick the groups and forums that interest you, whether they’re local or national.
Singling out local groups gives you a chance to meet others from your town. Such contacts could be highly valuable for learning more about your market, give you an objective opinion about properties you’re considering, or put you on the inside track for new acquisitions.
Meetup.com is a trusted resource for scheduling and finding meetings by category. Joining is free and fast and gives you access to the group calendars that interest you.
And, of course, don’t forget social media sites such as LinkedIn and Facebook. People make valuable connections for business on these sites all the time. Find a couple of groups you’d like to participate in and spend some time offering value and engaging the conversation before you reach out to people with any business propositions. Many of the tips below for networking in person apply to social media as well.
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JWB has over 10 years experience managing turnkey rental property investments. We have a consistent approach that delivers steady cash flow from our clients investment properties. Curious what your cash flow could be from one of our rental properties? Try our cash flow calculator or contact us to learn more.