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So you walk into a crowded room. You know no one there. You know they have one similar interest as you, but that's about it. What do you do? Do you go straight up and hop into the conversation? Or do you hang back in the corner and sulk?
Networking truly is an art form! And, you don't have to be an extrovert to master it!
When I moved back from Europe, I couldn't imagine going back to work in an office. So I started a medical consulting company which I ran for a few years.
And it was a TOTAL failure!
Why, you ask? Nobody knew what I was doing! I never told the people in my circle what services I offered. Yet, I expected to magically get sales! Clearly, a recipe for disaster. I was totally broke, pulling my hair out trying to get a business off the ground, and no one knew what I was selling!
Then, I made a change!
I started PROACTIVELY telling people about my business. I made sure everyone I came in contact with knew what I was doing and soon enough I landed a contract that paid for the full down payment on my first duplex! 🙌
Wanna know how I did it? Here are my best networking tips to help you find the right connections and deals:
1. Participate!
When I first moved to Yonkers, NY, one of the first things I did was find my local neighborhood association. This lead to me meeting neighbors, the police in my area, and local business owners. By building these relationships, I have gotten referrals for contractors, plumbers, you name it! I also met a couple that I would end up buying a fourplex from in an off market deal just a few short months later! Now, I'm known in the area as the woman that buys multi-families! Deals find ME now! Look for association's in the area you want to own in, Chamber of Commerce meetings, local REIAs and other groups that fit with Real Estate Investing to join!
2. See the People behind who you are talking to!
One of the biggest mistakes I see people make in networking is that they focus on selling to the single person they are directly talking to. So if that one person isn't interested in selling their property, most people would just move on and consider them a waste of time. Instead, realize that the average person has a network of about 500 contacts. So, grow that relationship with that one person so they can keep you in mind and possibly introduce you to one of their 500 contacts that IS looking to sell their house to you! Remember, it usually takes about 12 touchpoints for a person to get to know, like, and trust you before they will make an introduction for you so stay in touch and realize why they say real estate is a relationship business!
3. Build deeper relationships with Lady Landlords!
We have almost 20,000 women in Lady Landlords right now (how cool! 😎) That means, statistically, the power of our network is 10,000,000 contacts strong if everyone have an average network of 500 (You guys are overachievers so I know our group is even stronger than that!) Leverage the community you are already a part of!
If you are in the NY Tri-State area, we are hosting our FIRST Lady Landlords weekend event on Saturday, August 21st at one of my very own rental properties! This Backyard Brunch will be a fun, relaxed atmosphere where you can connect with others in the group and see what projects they are working on. Expect to be inspired and leave the day with new friends! (Oh, and did I mention the Mimosa Bar? 🥂)
Space is limited at this event so sign up early here:
Not in the NY area? We run Virtual Meetups every Month! Sign up for the virtual option here!
Happy Networking!