Real estate is not a property business; it is a relationship business. In order to be successful in real estate, the new investor needs to build a network of other investors and real estate professionals. There are many ways to accomplish this task, however, attending real estate investment clubs is a good way to jumpstart the networking process.
Real estate investment clubs are typically held one night a month and are free to attend for the first time. After the first attendance, you will either have to pay at the door or become a member. It is recommended to become a member as there are benefits to members that exceed the cost of the annual membership fee.
There are 3 main reasons to regularly attend investment club meetings:
- Find other cash investors to work with
- Network with professionals that will support you in your business.
- Learn about the local market.
Finding cash investors is crucial to building a successful investing business. Many times, homes are bought and sold through/with other investors. Most investors will not buy every deal they come across therefore, the investor will sell the property/information to another investor using a wholesale technique. Having a network of cash investors provides options to get a deal completed.
An investor is an expert in buying and selling property. They are not experts in taxes, legal issues, keeping the books, insurance, property management, and other facets of real estate. Therefore, the investor should surround himself/herself with professionals to take advantage of their expertise. In doing this, the investors time is freed up to focus on the business of finding, buying, and selling properties.
We all know the real estate market is constantly shifting. Techniques to find deals are continually evolving. A quick way to find out what is working in the local market is to attend investment clubs. Investment clubs are great places to share ideas, knowledge, and techniques that are working for the current status of the market. Many times, investors willingly share their techniques in an effort to find other deals. A successful investor’s belief is that there are enough deals out there for everyone therefore, the more people they help the more deals will come their way.
Remember, real estate is not a property business, it is a relationship business. A great way to build those necessary relationships is to attend real estate investment clubs.