The power of networking is unmistakable in just about any business and especially so when it comes to real estate investment. The reasons for this are pretty basic. First, it’s just good practice to always be a promoter of what you do. Nobody is going to know you are interested in apartment investing if you don’t tell them. More on that in a moment.
A second thing to consider is that most real estate investors didn’t start their careers in this field. Simply stated, the world is not going to know about your new interests and business pursuits so they need to be told that there is a new you out there and that you mean business, both literally and figuratively.
Now, let’s focus in on one of the most fundamental elements of being a good networker. I like to call this the ‘open mike’ principle, where you seize every opportunity possible to let others know what you are up to and how they might possibly benefit from interacting with you in a business sense.
There are several ways to do this, only one of which involves being a coffee shop chatterbox. In short, while it’s helpful to be personable and talk to a lot of people, this is not a comfortable thing for many people, especially those who are naturally more introverted. Business (and more particularly success in business) will tend to open up even the most shy of people, there are also some great other ways to network in a “quieter” fashion.
A real simple thing you can do is to establish a real estate website, which describes many of the details of what you do as an investor. When you hand out business cards, send emails with a signature at the bottom, or just talk about what you are doing, a referral to a website can lead to more substantive business conversations down the road, not to mention giving you some inherent credibility in the modern age of business.
Another avenue to consider for basic networking is the use of online forums. While some of the popular ones out there like MySpace and Facebook are not really set up for business, they can be used to still promote your business and you just never know when a visitor will take note of hat you do professionally. There are also business related forums out there that, even though they might have fewer members, have more members interested in the same kinds of things you are and may lead to bigger and better things. Most of these types of forums are free to join so what do you have to lose?
The underlying theme of networking is that “you just never know”. Whether you’re just starting out as an investor or are ready to move up to bigger investments like apartments, you just never know when a simple conversation can lead to something that is highly lucrative for you. When you embrace networking, you embrace success, and this approach to business can be an excellent way to get your foot in the door and keep it there.
