People Can Be Sitting Next To A Potential Goldmine

Category: Finance, Real Estate.

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. By its very nature, networking can yield some surprising results as connections are made and relationships created in some unlikely places.

Networking can help investors locate some of the best deals around. 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. Although people attend to hear the speakers, a good deal of business is conducted and relationships forged outside the speakers panels. One of the best places to network is at a conference. 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 don t network don t realize they potentially can be leaving thousands of dollars on the table. Those that network know how profitable networking can be.

Again, the principles of networking are the same, regardless of the industry. Connecting with the right people can lead to a virtual goldmine of lucrative deals. There is some truth in the old saying that it s not what you know- but who you know. There are essentially three networking areas that produce results: 1: The" A Team" of experts: attorneys, mortgage brokers and, accountants anyone else who has contact with potential sellers- including real estate agents. When possible later on, follow up with a phone call. Once these individuals are identified, a formal introduction can be made with a letter( don t forget to include a business card! ). This can be the most lucrative source, but it may also be the toughest to crack.

At these events, the likelihood is greater to bump into someone in the business that might be able to form a mutually beneficial relationship. 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. 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. As with meeting people at conferences or seminars, who knows who s around until a conversation starts and the introductions are made. The real gold in forums is the opportunity to contribute ideas and build rapport with other investors. People can be sitting next to a potential goldmine!

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