Finding Real Estate Deals- It's Who You Know, Not What You Know!
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Finance > Real Estate
May 22, 2007
renovator
Finding Real Estate Deals- It's Who You Know, Not What You Know!
When developing a strategy for real estate investing, it's important to remember that like in business, networking is an integral part of enhancing your investing ventures. Networking can help investors locate some of the best deals around. By its very nature, networking can yield some surprising results as connections are made and relationships created in some unlikely places. Not only that, but many people fail to realize that the person they are sitting next to might hold the key to their investing dreams - but they will only know this if they take the crucial first step to make an introduction. One of the best places to network is at a conference. Although people attend to hear the speakers, a good deal of business is conducted and relationships forged outside the speakers' panels. Whether it's during a break for lunch or going for a drink at the bar later, the best way to make connections is to be aggressive and start a conversation. Those that network know how profitable networking can be. Those that don't network don't realize they potentially can be leaving thousands of dollars on the table. Again, the principles of networking are the same, regardless of the industry. There is some truth in the old saying that it's not what you know - but who you know. Connecting with the right people can lead to a virtual goldmine of lucrative deals. There are essentially three networking areas that produce results: 1: The "A Team" of experts: attorneys, accountants, mortgage brokers and anyone else who has contact with potential sellers - including real estate agents. Once these individuals are identified, a formal introduction can be made with a letter (don't forget to include a business card!). When possible later on, follow up with a phone call. This can be the most lucrative source, but it may also be the toughest to crack. However, building relationships takes time, so the focus should be on the long-term goal. 2: Other investors: to reach this group, attend as many investor group meetings and seminars as possible. At these events, the likelihood is greater to bump into someone in the business that might be able to form a mutually beneficial relationship. The lesson here is that people never know who they're sitting next to and if they can help one another. 3: Real estate investing Internet forums: Most investor forums will have a section where investors can discuss possible deals, so there is always a chance that something good may pop-up. The real gold in forums is the opportunity to contribute ideas and build rapport with other investors. As with meeting people at conferences or seminars, who knows who's around until a conversation starts and the introductions are made. People can be sitting next to a potential goldmine!
Discover exactly how Sal Vannutini combined two of the easiest (yet brutally powerful) real estate investing strategies and made an insane $31,510 Profit In Just 49 Days... And How You Can Do The Same!". Visit www.FixerUpperFortunes.com
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