Any real estate entrepreneur and investor will tell you that relationships are key to building your business. I can tell you that it was through my relationships with property managers, brokers, but most of all potential passive investors, that we were all able to not only forge new friendships but also close several deals. If you don’t have a network yet, you may be wondering how can you meet high net-worth investors?
One of the places to meet these people is at non-profit groups and charity groups. Many of these people tend to be generous. They enjoy giving back to their community. When they are in a group with others celebrating the spirit of giving, they are in a mindset of relationship building. They will be open to meet people – people like you.
Consider looking at Meetup.com
or Eventbrite and search for “charity”, “non-profit” put a list together of events in your area. Pick events that line up with your interests as closely as possible. Go a few times and get to know the people and make yourself visible. Talk to others and get to know them and let them get to know you. If you run into someone that doesn’t want to talk to you, pay no matter. Just talk to as many people as you can. And all you are doing is talking. You are not pitching or selling them. You are building your network.
I found that volunteering at non-profits and charities is one great way to build relationships with those that fund these endowments. Many of the high-net individuals that support these causes support them with their time and money. Through these relationships, I personally have benefitted, not only with my deals but also with great friendships I’ve built over the years.
Additional strategies I have found to be helpful is to go to real estate conferences, wealth building conferences, and even REIA meetings. You are able to find like-minded people there that have large networks of their own.
When you are talking and meeting people, you don’t want to go in cold. Make sure that as you prepare to go to these events, you sharpen your skills. Spend the time to learn the verbiage, deal structures, and lingo. Nail down your story and define your why. Remember that your network is investing in you, so listen to podcasts, educate yourself and make real estate a big part of your life.
Network building is a big part of your success. What are you doing to build out your network? Let me know in the comments. If you like the content, check out our podcast on iTunes and Stitcher and subscribe to the new YouTube channel. We are working on getting new content out all the time to help you build your success in the world of multifamily.