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Having a network of friends and connections is a must in any field of business. But building strong relationships takes more than just reaching out to experts. Don’t be passive and wait. Create connections and bring value to your relationships in the world of real estate.
In this episode, Mike and Dan discuss the right way of networking as a new investor. Learn how you can benefit from your network and find ways to bring value to them as well.
Here are some power takeaways from today’s conversation:
- Be careful when working with difficult deals
- Scale your real estate business with networks
- Create a mutually beneficial relationship
- Continuously bring value to your relationships
- Develop a collaborative mindset
Episode Highlights:
[01:31] Summer Real Estate Deals
Multiple people are willing to sell their properties. Despite the question of a market crash, there are many ways to buy houses regardless of the price.
[18:30] Meetups to Network
Networking isn’t just about who you know. Meetups can be a good way to connect with others. But these events often connect you with people who are in similar situations. So networking this way can take a long time.
[21:11] Networking With Money
Although costly, there are two ways you can build a network as a new investor:
- Buying a house, getting a contractor, and going through with a deal.
- Paying to become members of groups to network, learn, build your reputation, and find opportunities to work together.
[25:22] Networking With Value
If you’re a new investor and not yet ready to spend in order to create your network, here are different ways you can find people and build valuable relationships:
- Don’t simply reach out to a person and ask for their time.
- Create a mutually beneficial exchange.
- Identify a specific need they may have and provide value.
- Interact virtually with them regularly.
- Have a collaborative mindset and develop your social skills.
[33:18] The Importance of Networking
In real estate, networking and building relationships are vital to scaling your business. Take the step forward to connect and find a way to consistently bring value to your relationships.
Notable quotes from the Episode:
[18:32] “... when it comes to the real estate business, it isn’t only about who you know, and who knows you.”
[25:13] “... the world becomes a very small place when you start bringing value to other people and showing that you can put time and hustle in...”
[30:41] “... if it comes to virtual relationships, you're trying to connect with people and other groups. Honestly, the easiest way is interacting...”
Resources Mentioned:
podcasts.apple.com/us/podcast/tribe-of-millionaires-podcast/id1110145229
