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For people who are just getting their feet wet in real estate investing it is usual for them to notice at the very outset that having a network of fellow investors as well as buyers can be a useful source for making their investment business flourish. Having a decent network of people to fall back on can help you locate the better properties and to also find out whom the more interesting investors are and who will want to buy real estate from you. In fact, it is not all that hard to build up your own business network provided you know how to go about this rather simple task.
REO Agents Are A Good Source of Off-Market Deals
As far as real estate investing goes, it is also common that you won’t buy every property that comes your way though, at the same time, when you check out different properties, it will bring you into close contact with others who have similar interests and thus you will have found a safe and assured means of building a business network. After you have made a few deals related to real estate investing you will also have come into close contact with REO agents who may be holding bank properties that are in post-foreclosure, and this too will help you to expand and build your business network.
Repeat Business Leads
Another way that your business network will flourish is when customers come to you for repeat business, which will help the network to widen even more. In fact, for every fifteen or twenty properties you check out, don’t be surprised if only one or two actually get completed and the rest will remain just a part of your business network. This in turn will then lead to your getting deals that fit in with your real estate investing profile because after a while agents as well as investors will begin to understand what exactly you are looking for and thus they will offer you only those deals that fit your needs and wants the best.
As this business network grows, so too will the chances of your landing more deals that would mean that you could then start making at least four or five new deals instead of the one that you were making at the beginning.
Since repeat clients can give you maximum business, when indulging in real estate investing, you should makes sure that you record all the information pertaining to everyone you meet in connection with your investment activities. This is a good way of finding more opportunities and because of late there have been many more foreclosures, it is also the right time to capitalize on the real estate investment business and grow your business network through checking out foreclosure lists.
Networking Events
To grow your business network when it concerns real estate investing you may also want to check out online sites that deal with investor networking opportunities and a good example is American Investors in Real Estate Online where you can find many like-minded investors and a lot of high quality facts and information dealing with real estate investing. In fact, if you also attend seminars and go to classes that deal with networking, you will find that your business network will expand considerably and that in turn should help you earn more out of real estate investing.
BiggerPockets.com
Another source worth tapping if you wish to build your business network to further your real estate investing goals is checking out the site biggerpockets.com which is a leading online community comprising of many real estate investors and homeowners as well as professionals dealing in real estate. It is an ideal place where you can further your real estate investing goals and also build your business network and also learn new things related to the real estate market.
Bill Manassero is the founder/top dog at “The Old Dawg’s REI Network,” a blog, newsletter, and podcast for seniors and retirees, that teaches the art of real estate investing. His personal real estate investing goal, which will be chronicled at olddawgsreinetwork.com, is to own/control 1,000 units/doors in the next 6 years. Prior to that, Bill and his family lived in Haiti for 11 years as missionaries serving orphaned, abandoned and at-risk children.
