An interesting little phenomenon has happened over the years. It is one that has benefited me well and I have seen benefit others.
The Networking Effect
Yes, I know. Networking is nothing new, but it’s pretty cool when you see it paying dividends without even realizing it.
Over the years I have been investing in real estate I have also talked to people about real estate. I have gone to meetups and real estate investor associations (REIA), shared my knowledge and what I do along with learning from other that have different experiences than me.
Here’s the thing – I went from someone that was going it alone and did not have many resources to now finding myself with a network of resources.
For me personally, the biggest impact is my ability to raise money. There is no way in hell I thought I could do that years ago. Who did I know that had money or would want to use it to invest in real estate?
Now I have people in my network with capital ready to go once I have a deal for it. It is kind of mind blowing when I think about it.
Have seen the benefits for others
I’ve seen this play out for others as well. A newbie without the funds for a deal she had found getting funded with a hard money loan from a fellow investor at the same meetup, which started her on the way to owning multiple investment properties.
Others that met at a meetup, developed rapport only to partner up and go on to acquire over 100 units together in a two year span.
That is some powerful stuff right there!
Are you seeing the point?
Networking with like minded people has always been a good thing and it can lead to magic sometimes. If you are investing in real estate or have a desire to you should be educating yourself as well as networking.
Go to a local investors meetup, look for one that is actual investors getting together as opposed to some seminar.
There is already enough education online, wink wink.
They are easy to find. Go on meetup.com or just google real estate investor meetup in your town.
Now get out there and enjoy it!