Networking: How and with Who?

Question

I have come to the point in my real estate investing career where I know in order for me to continue to grow, I really need to put a much greater emphasis on networking. This site is great for that I know. But I was wondering if someone had tips on how to find the right people to talk to? What people to approach for coffee? How to ask people to meet up without sounding like a weirdo? I feel like the more people I can meet with, the better, but do I want to meet with newbie guy everyday for lunch? I feel like finding and talking with people that are currently involved with real estate and making a living doing so would be much better connection . But again, I do not know. Any advice? How would I be able to do this in large numbers? I would like to just start meeting someone new everyday if possible in my market and see where that takes me.

Thanks again for any advice.

Dell Schlabach · Answer

How to find the right people to talk to?

Find three to six of the top people in your area, or possibly out of your area, if you are planning on competing locally. Find people who are doing what you want to do, call them, email them, track them down on a job site, sit outside their office door with a big gift until they give you two minutes to arrange  meeting...

Most successful real estate people in my experience are willing to meet for free, coffee or dinner, if not ... Offer then $200.00 for 45 minutes of their time over dinner or coffee, most wont take it, but it show them that you value their time and information. If you decided to do this next week, and met with four or five successful people doing what you want to do, it could cut potentially cut years off your learning curve. Most likely one or two of those people would then be available for you to call when you run into obstacles, and if they couldn't solve the problem they know people who can.

I know plenty of people who for years have been attending real estate networking events that you really would not want to ask for advise.

But do I want to meet with newbie guy everyday for lunch?

No you dont, not if you want to learn something, if you just want to network and enjoy coffee that be ok, but wont get you far in your bussiness.

Any advice? How would I be able to do this in large numbers?

Large numbers will make it seem like you are doing something, but likely it will be spinning your wheels and getting confused. You dont need large numbers, you need one or two good people who know what you want to know.

Its a lot like the new people who want to build large buyers lists, I run into them all the time, if they just figured out what I want they could sell me 50 deals a year, if they can find 100, I could hook them up with a couple other guys real quick. Most wholesalers only need one to three good buyers, and you can find them in a week, you dont need to spend a year networking to build up a list of 50-100 potential buyers. This is s not a numbers game. Its a game of deciding what you want and then figuring out who can help you get there.

It has been said that if you dont have what you want, either you dont KNOW what you want or,  you don't know how to get it.

Do you know what you want to do? Wholesale? Rehab? Buy and Hold?

If you dream a little, you had enough money to create your ideal real estate business, three years from now, what would that business  look like?

Account Closed · Answer

@Brian Davis

You should check out the "networking events" section of BP. Find a meetup to go to in your area. Some are REIAs that you have to pay to join but some meetups are free.

Also, check out www.meetup.com. It's another way to find real estate investors, lenders, mentors, etc. in your area to meet with. I just went to my first meetup a couple weeks ago. It was really good to meet people and learn things face to face instead of sitting behind a screen. There was a mix of newbies and pros. I got business cards and they are willing to help and do deals together.

I'm okay with talking to other newbies, but I really want to talk to people that are doing what I want to do! That will help me get where I want to go!

Dell Schlabach · Answer

Welcome

Just ran across your other post about scaleability ... from your first post on this thread I assumed you were relativly new trying to figure out what you wanted to do, and how to go about it.

I see you have a relatively clear vision  and more experience then most "rehabbers" hanging out here, makes the challenge bigger, but the principles strategies still apply.

We have similar struggles in scaling up, but when you do 12-15 pretty much hy yourself, you know it can be done. There is a ceiling of complexity we tend to hit that can be extremly difficult to break through.

Maybe I shold do the response in the scalability thread, since this one is about how and who with. Good questions, I recall goung to all tbe reia meetings and not being able to find any full time rehabbers, and nobody seemed to know any. I went to one of the bigger ones in the area and the night of the round tables where they had moderators at each table moderating an aspect of real estate, and it was advertised as having a table on rehabbing, that table had been deleted, I asked why and was told they couldnt find a moderator.

I asked realtors and everyone I ran into, a lot of people knew people who rehabbed, but everyone was doing it part time, as a side business. Which struck me as really odd after all the books I read, seminars and boot camps I had attended, if it was  so lucrative that peopke are paying 3,000-75,000 for mentoring or coaches, why coukdnt i find anyone making a living at it.

Apparently a bit more difficult than thay make it seem :-)

After the crash when I decided to focus exclusively on rehabbing, first year I did three, doing all the work myself, next year six after hiring a couple peop, e, hired a few more and rehabbed 12, doubled tge staff and did 13, oops something wasnt working

Brian Davis · Answer

Damn @Dell Schlabach , bringing it!  Best advice I have heard all day. Thanks Man.

John Santero · Answer

I agree with @Paul Timmins Join a REIA. You need to develop team members- a Real estate attorney, account and agent. A good title company. some sub contractors. Ask them who else they work with in the industry. Follow who is listing on online sites- craigslist and zillow for starters. It takes no money but some time to develop. GOOD LUCK!

Paul Timmins · Answer

@Brian Davis

Welcome.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find them through Google and meetup.com Here you can network with others.

Good Luck

Paul

Networking: How and with Who?

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