Networking is a vital aspect of real estate investment. It helps you to access funding, buyers, and deals. If your capital is small, you need a strong network to help you gain more organic business.
The amount of profit you make, how much you spend on each deal, the number of deals you close, and the duration it takes to earn money depending on your network’s strength or size. Often, getting private capital is more desirable than obtaining funding from commercial banks.
With the right network, it is even easier to get private capital. But the issue is how and where you can network with private investors. Below are some ways to start or expand your network.
1. Work with a property management company to find deals
Start a local search to find property management company websites and reach out to them. A lot of those companies tend to offer investor programs. They don’t only manage properties, but they can generally help you find great properties to purchase, and then they can manage them for you.
The advantage of going through a property manager and not just a real estate broker is that their goals are in line with yours: they want to manage great rental properties.
2. Attend seminars and conferences
Attending seminars and conferences is one of the best methods to boost your network within a short time. That is because you will get to meet numerous new contacts in one location at the same time.
Do you intend to build your network in real estate such that you can connect with other investors, successful entrepreneurs, and supporting vendors? Then it would be best not to miss conferences and seminars.
3. Attend social events
You can also meet people with enough capital to invest in your real estate business at social events. All it entails is attending the favorable event at the right time. Such social events could be antique or luxury car shows, golf clubs, charity fundraisers, and so on. Aside from having fun at these events, you also can meet valuable contacts for your business.
4. Join meetups
There is an outstanding community that connects you with your target group, and that hub is meetup.com. It is a massive online platform that helps people build relationships, network, and make new contacts.
You can host your meetup and grow a group of private investors. Or, you can attend other local meetups on any subject that you desire. It would be best if you don’t limit yourself to only real estate events. Instead, imagine the category of interests or activities that the contacts you desire will like.
They may have an interest in technology, yoga, golf, cars, yachts, and so on. Join such meetups or setup yours and publicize them. The aim is to meet your contact in person.
5. Join local real estate investors associations
Every month, there are always a few gatherings of real estate investors at your location. So if you want an easy way to meet active investors, it is better to join the local clubs or associations around you.
Do not limit yourself, but expand to include mortgage brokers, chambers of commerce, and realtors. The association may organize trade shows or luncheons. You only have to show up at the event and make contacts while the association will handle the planning.
6. Maximize social media
Another fast and easy way to build your network is social media. Create and maintain a good profile on different platforms. Then you can search and connect with viable contacts.
Avoid adding just anyone because you want to grow your follower base. Instead, add valuable people that can help you grow your private capital.
7. Join online groups
Online groups are also essential in finding private capital for your real estate investment. It helps to connect you with active investors nationwide and internationally.
A platform like Holdfolio is where you can invest alongside other investors who are taking action. Other online groups where you can meet investors include Angel list, the Angel Capital Association, and Bigger Pockets.
Travelling and vacations are perfect opportunities to expand your network. You get to meet new people when you visit new places. Instead of being passive about it, make moves to initiate a relationship with new people when you travel.
Sometimes, you can make accidental connections, but before you travel, we recommend searching for real estate agents, investors, attorneys, financiers, and other influencers in the industry. Doing so will help you set up meetings or pay a visit to their offices to make contacts.
9. Host events
Do you want to network with people who have the same value as you do? Then host specific events that will attract them. It could be a fundraising dinner, charity event, or volunteer outing. If you are comfortable with strangers in your home, you can host some house events.
However, if you are not confident enough to organize your event, you can sponsor others. When you do so, ensure that you obtain a copy of the lead list. It will help you to network with the right people.
No matter your location and personality type, building a network that provides you with private capital should not be difficult. However, when you obtain money from your network, ensure that it is profitable. That is the best way to maintain a valuable network of investors.
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