The Power of Leveraging Others In Real Estate

I have a hard time believing that I have been in the business for 23 years....but I have!   I feel like I spent much of that time hiding in a back room, running properties and renovations, but never sharing this information or really reaching out or learning from others.

In the last few years, I finally got bored and started networking and above all kept an open mind as much as possible.  with all the different areas you can work in real estate, it is an almost endless menu of opportunities that cannot be found in most industries.  

I now work with Single Family home management, brokerage of single family and multifamily.  Lots of Multi Family properties with a focus of value add and recently office and potentially new Coop Living spaces.  

The referral fees and commissions alone can keep you in the business, the management fees can provide sustainable, predicable income and the ability to buy or earn equity on a deal that ideally grows by 40% or higher in value over time creating massive wealth.

The biggest lesson I learned is that you have to out into the world and let people know what you do and learn and network from anyone that will listen or meet with you.

My goal is to meet, help and learn from 1-5 people per week.  By doing this the last few months alone I have generated revenue I never knew existed and added about 100 more solid contacts that help from anything from financing, renovations and of course off market properties to simply offering advice and listening as a cheerleader when times get rough, they always will.

To keep it short, never underestimate what you can learn from others, even outside of the real estate industry.   Sometimes the best ideas I have used in our business is from the tech world in a completely different industry.   

What are some things you have learned by networking and meeting with others in our industry?