Networking is great for real estate investors and events from local investors groups to the Realtors association to Chamber of Commerce can be highly profitable, if not absolutely essential. However, if you are not careful these opportunities can also be sabotaged by certain individuals too. That not only means wasting time and killing productivity but destroying ROI and missing out on valuable opportunities too.
It is important to remember that you don’t need to connect with everyone. All you need is just one or a handful of highly valuable contacts that you can trade contact information with and set up a follow up meeting where you can actually talk about doing business and collaborating together to generate referrals and real deals.
When working your way around your next real estate networking event, be on the looking for the following list of individuals:
The Shark
While the best real estate investing networkers know that the best strategy is to authentically help others there are sadly those that circle some of these events in search of new prey. They know that new real estate investors that have failed to invest in their real estate education are easy targets for scooping deals from, pawning bum deals and contracts onto for big assignment fees and worse. Sharing ideas is good but don’t give up addresses, your clients’ info or sign paperwork on the spot.
The Drunk
Liquid courage seems a requirement for some to break out of their shells and interact at networking events. While in moderation this is certainly accepted and often encouraged by organizers the sloppy drunk not only babbles garbage but won’t even remember your name in the mornin
The Newbie
It’s great to take new real estate investors under your wing and share your expertise with them. The sharp ones can make great allies and bird dogs and result in very profitable long term relationships. However, you’ll also come across those that have skimped on their real estate education, have no idea what they are doing and aren’t likely to go anywhere. Avoid these jokers or miss out on making the best connections. Try to network up and learn from the veterans and real innovators.
