When you think about what it takes to be successful in real estate investing, you probably think about cash flow and financing and knowledge of the real estate market. I think the one thing that helps the most but is the most undervalued is networking.
My husband and I dove, or rather belly flopped, right into the deep end of the real estate investing pool. Over the years, we purchased a few personal homes and gained extensive DIY experience along the way. So we thought, why not!?
Without a whole lot of hesitation, but lots of enthusiasm, we purchased a major fixer-upper with many hidden issues. We knew we would have surprises. But we also realized experience is the best teacher. Through it all, we learned countless lessons.
The greatest lesson of all was learning the true value of networking.
Enter our local real estate meetup.
We heard about this real estate investing group from a friend. We thought we’d stop by to check it out shortly before we closed on our investment property. We didn’t set out to make business contacts or get referrals or make an impression. We just wanted to listen and learn.
In the end, not only did we learn from this group, we got support, advice, and even assistance. Oh, and we made lifelong friends too. I think that’s a win-win-win-win. I honestly don’t know how we would have made it through the whole thing without this group of amazing people.
Networking helps you be successful in real estate investing
The value of networking is preached far and wide. It’s one of those things that you know you should do, but don’t necessarily want to do. You know, one of the boxes that you *think* needs checked but you’re not sure if it’s really worth your time.
I can tell you, firsthand, when you find a good group, it can and will help you be successful.
Before joining our local real estate group, I thought of networking as one of those things I needed to check off the list. Now I understand and know what people mean when they talk about the incredible value of networking.
Even though we don’t currently own any properties, we continue to go to real estate meetups. Why? Because it’s fun and enjoyable, plus we get value from learning from and supporting others in the group.
Benefits of networking
Without getting too deep into the weeds of the benefits of networking, below is a simple yet comprehensive list of benefits (check out the full article from Create Your Amazing Business).
- Generation of Referrals/Increased Business
- Raising Your Profile
- Positive Influence
- Increased Confidence
- Satisfaction from Helping Others
As you can see from the list, networking isn’t just all about furthering your cause. No doubt, it will benefit your business and personal life. But networking is also about community, contribution, support, and even friendship too! What’s not to love about that?
The “how to” of networking
It’s not necessary to focus too much on the “how to” of networking. Don’t get preoccupied with doing it right. There‘s no right or wrong way to network with people.
We are all unique individuals with unique personalities and unique lives. The absolute best thing you can do when networking is just be yourself.
Be kind, friendly, genuine, and really listen to the people you talk to.
Most of the common mistakes real estate investors make when it comes to networking is to ignore this advice.
Beyond reaching out and being kind to others, you can further relationships with others by doing the following:
- Attend meetings routinely
- Follow through on what you tell others you will do
- Follow up after the meeting with a simple thank you email to those you chatted with
- Continue to follow up with others outside of the meeting, as appropriate
Networking isn’t rocket science. Be yourself. Be friendly. Be helpful. And always do what you say you will do.
“Wow…I have done a lot of things to increase my knowledge of real estate and investing but that DSM Real Estate Investing Meetup and Mitch Coluzzi was by far the best hour I’ve spent talking to people looking for the same things.. can’t wait for next month!” – Jason Mullin
The Evolution of the Des Moines Real Estate Investing Meetup
What started as three people with a common interest in real estate has scaled to include over 400 members in almost three years. Why has it grown so fast? And what keeps everyone coming back?
“After discussing with several local investors, it was clear there was a great group of local individuals interested in making something happen in the Real Estate World of Investing. Yet… there are limited resources (dare I say no) outlets for ACTUAL, down to earth, learning and networking WITHOUT the agenda focused, membership fee-based, overwhelming-pressure-of-making-a-sale overtones.
This group was established to NETWORK AND SUPPORT LEARNING, whether you are reading your first book, flipping part-time, or a full-time professional…come grab a few drinks, chat, ask questions, exchange contact information, etc.
This event is 100% FREE and open to everyone, without any sponsored sales pitch nor sideways promotion. Truly just good ole fashioned networking with like-minded folks. Everyone has something to teach and something to learn!”
I think that says it all!
If you’re an investor or are just thinking about investing, join us on the 3rd Thursday of each month at Ingersol Tap in Des Moines. Everyone is welcome!
Whether you’re selling, buying, or investing, Coluzzi Real Estate will answer all your questions and simplify the process. We’re here for you every step of the way. Please don’t hesitate to contact us today!