Networking Tips for Real Estate Investors
By Jerry Mosley, Regional Head of the Southeast, B2R Finance
Whether you’re a seasoned residential real estate investor or simply interested in becoming one, networking can help you grow your business faster than going it alone.
All networking isn’t created equal, however, so it’s important that investors maximize their time by networking with people closely tied to their local real estate investing community, including other investors, real estate brokers, mortgage companies, real estate attorneys and contractors.
Investors are a pretty friendly bunch, even though we may occasionally be in competition with each other. If you’ve never been to an investor networking event, you may be surprised at how willing people are to help each other out. Those of us who are long-term property investors love this business, and we want others to love it, too.
Here’s a look at what I consider to be among the best networking opportunities for residential real estate investors, both new and seasoned:
- A local chapter of REIA (Real Estate Investors Association). Most members of these groups are either property investors or have a connection to property investing. Typically, each meeting will include a program and an opportunity to network with attendees. You’ll find wholesale real estate opportunities; financing options; a network of buyers, sellers and vendors; and options for training. You may even find a mentor. These groups are about sharing expertise and knowledge. To be sure, some chapters are stronger and more effective than others. If your community has a REIA chapter, be sure to check it out.
- HomeVestors. We’ve all seen HomeVestors’ billboards: “We buy ugly houses.” HomeVestors is the country’s largest real estate investment franchisor on Entrepreneur Magazine’s “Franchise 500″ list. Check to see if your metro area has one or possibly several franchise owners. These local franchises often have networking opportunities and investors who are not affiliated with a HomeVestors franchise can also attend to meet like-minded people.
- Make individual contacts in the real estate community. Find out what attorneys are involved in REO (Real Estate Owned) auctions by visiting the county clerk’s office. Call and invite an attorney who you think might be a good contact out for coffee, or ask to stop by their office for a five-minute meet-and-greet. Call up the major real estate brokerages and ask to meet the leading REO broker or with brokers who have experience working with property investors. Ask real estate agents you meet to help connect you with mortgage professionals.
- Consider attending a real estate investing seminar. You’ll find it a great place to network if you decide to attend, but be aware that not all real estate “experts” are true experts. Be sure to do your own due diligence on the speaker, as these seminars don’t come cheap.
So, get some business cards made and take advantage of networking with other real estate professionals in your market. They can provide both new and experienced real estate investors with tremendous resources to accelerate your business growth.
B2R Finance offers rental investors innovative lending products to help unlock equity from existing portfolios and provide the cash needed to build rental portfolios nationwide. For more information about how B2R can help you obtain rental property financing, just call 800-227-8107 or visit www.b2rfinance.com/borrowers and follow us on Twitter @B2RFinance.
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