The Best Way to Start Building Your Real Estate Network
Flipping houses takes more than just hard work, creativity, and cash flow. You need to build a network of real estate professionals to maximize each angle and facet of the industry. You have probably already established your circle of realtors, contractors, and suppliers, but there are many more professions involved in the process from which you can gain valuable insight and be one step ahead in the game. Lenders, insurance agents, appraisers, accountants, and closing agents are just a few of the people you will likely work with on a deal, and they can be potential sources for house-hunting information. Here are some tips on how to build this network.
Learn From the Best
The real estate world is constantly changing, and successful agents are the ones who can roll with it. Drive around town and you will quickly figure out who are your heavy hitters. These are the veterans, treasure troves of tricks and tips they have learned over the years. Do not be afraid to go to them with questions. It can be a mutually beneficial relationship as you share your view of the house flipping world through “new” eyes. Join the local realtors association to meet with many of your colleagues on a regular basis. If there is not one in your area, start one.
Start Your Own Coalition
There is one partner in this process that often gets overlooked; the buyer. Bring the real estate partners of your community together to do periodic homebuyer education seminars. Lenders can explain the banking side of purchasing, appraisers detail what they do when they walk through the home, closing agents describe the closing process, and so on — and you all get access to new clients.
Find A Mentor
Surrounding yourself with a real estate team of partners is essential, but having that one go-to mentor is priceless. You will know immediately when you find the right person for that very special job. Having a mentor from your community and business area is important, because each area is unique. But having a long-distance mentor can be beneficial as well since there will be no worries about territory or competition. An excellent way to find a person to fill this role is by attending real estate networking events.
Attend Real Estate Networking Events
Real estate events are the most productive use of your time and the best investment of your hard-earned dollars. This is the perfect opportunity to meet house flipping investors like yourself while you get great advice from keynote and motivational speakers. You will leave a Real Estate Elevated event with more insight on how to find good properties, create cash flow, get financing, and do a wholesale deal. Not only will you gain knowledge, but you will also go home with resources to which you can refer back at a later date, some included with the cost of registration, others that can be purchased from attending vendors. Most importantly, you will leave there energized and ready to close some more big deals.
Tarek El Moussa and Christina El Moussa of HGTV’s hit show Flip or Flop, host Real Estate Networking Events across the country. Any one of these will be an optimum chance to gain tremendous knowledge and add to your real estate network. You can also get more great tips and advice at Real Estate Elevated Reviews, a blog aimed at house flippers like yourself.
