Real estate is not a fair playing field. We make our money when we buy our property. If we take these two statements to heart then expanding our network as much as possible should be at the top of our priority list. The more people we know the more chance we have for deals to come along. Now the better opportunities tend to come along more in the commercial real estate world since the single family home space is so transparent online but not necessarily… and hey maybe if you’re in the SFR space right now and you want to branch out into bigger deals. Now is the time! To achieve something we’ve never done before we have to become someone that we have never been before and that’s much harder to do if we are unable to expand our network.
If you talk to the same people everyday you will likely be reinforcing the same ideas you’ve always had.
This week we’ll discuss expanding our network to get access to better deals.
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In the short-term rental riches will discuss investing in real estate with a specific focus on short-term rentals quick actionable items to wire. Scale your portfolio I’m your host Tim Hubbard.
Welcome back to the short-term rental riches podcast for here again talking about real estate usually with a focus on short term rentals but this week I want to talk about a little more of a broad subject and that’s our network that’s our real estate network this question came up recently and I answered it real briefly in a prior episode but I got to think in you know our network is really really important and the more people we know in the real estate world the more opportunities come along so I wanted to break it down a little more this week in kind of my approach to meeting people in this space and what I’ve done in the past and this is also for someone that’s just getting started right some of the things that I would do I have a good friend that he’s done very very well now probably owns or has owned around 10000 apartments up to this point he used to be a commercial banker so he was on the other end of the commercial real estate deals and he was doing all these deals and then you realize you know what I want to be on the investment side and so he switched over and he always says and now he’s talking about the commercial real estate space which is a little different when I say commercial I mean more than 4 units but he always says it’s not fair you know it’s not a fair playing field he was on that banking side for years and he met a lot of people so a lot of good deals came across his table and that’s how he’s got a lot of good deals now but we can build our networks and the more people we know. The better off we’re going to be I’m I’m down here in Brazil now I just got down here recently feels great to be back by the way and a friend of mine introduced me to a friend down here who’s in real estate and then she introduced me to other people that are in real estate and that’s just kinda how it works right the more people you meet of course the more involved you are in it the more opportunity is going to come up so I want to give just a couple tips before we can really build a real estate network. We have to be able to show other people that were excited about it were involved in it and of course this is going to be more for people that want to do real state full time but not necessarily just for starters we kind of need to know what we’re talking about right we kinda need to figure out some lingo some investment terms if you’ve been lessons podcast for a while hopefully you’ve picked some of those up if not go back we we talk about all all things on this channel real say related so that’s kind of the first thing we we need to understand some of the lingo and be able to talk to other people and professional manner to allow them to know that we’re serious about what we’re doing right so after we have that lean go down and we also know what we want right that that could be helpful to but you don’t actually always have to know what you want maybe you don’t know what you want to help comes up for the opportunity presents itself right so the more people you know in the space the more opportunities are gonna pop up so after we’ve kind of got the lingo down and we can talk professionally about real estate whatever type of real estate we want to be in whether it’s vacation rentals whether it’s single family homes whether it’s flipping properties wholesaling or commercial investments whatever space it is in the real estate world as soon as we can talk about that comfortably well that’s a good time to start reaching out to other people that we want to be involved with that we want to communicate more with Jim Rohn is famous for saying you know we are the average of the 5 people we spend the most time with right so if your 5 closest friends are not involved in real estate they’re not interested in it that’s not a problem it just means that your world your network is gonna have less real estate conversation happening and likely you’re going to have less opportunities so once we. Can talk professionally about the knee should we want to be in well then let’s reach out to people right we can reach out to podcast host we can reach out to YouTube channels you can go on Facebook and you can find a local groups and almost every big city there’s some sort of local real estate group and that is a great place to meet agents that are trying to sell properties that’s a great place to meet brokers or lenders and it’s a great place just to talk to others about. Real estate I’m joining another mastermind in real estate in the short term rental space and I’m always trying to go to seminars and listen to podcasts I like to be learning pretty much every day but that the group that I am joining is a is a higher level group and so it’s really helpful for me at the the stage I’m at so there’s different groups for each stage and Facebook link then and all the social media platforms can be a really good place to start their cell once we know we’re we want what our goals are and we understand the lingo we can talk professionally about real estate course you don’t have to be an expert off the bat you can learn this as you go right but once we know that reach out to some of these groups and just get involved it’s really just about showing up. If you don’t show up to these things then your real estate life is is not going to change that much phone calls are better than nothing right but gaining in person face to face or if it’s on a zoom call that’s something that we have at our fingertips now and that is much more effective I think than just making phone calls so if your network is small then something needs to change on your end right you need to start talking to more people you need to join more groups you need to send more emails you need to set up more meetings I consider joining some paid memberships to that’s what they’re there for so I just want to talk about that because I do think that it’s really important and it just kind of dawned on me as I’m I’m down here in Brazil and I did just left Colombia where you know we went to brunch this Sunday before and it turned out that like almost everyone at the brunch was in real estate somewhere another and then I get down here immediately I’m connected with other people in real estate so this is my life I’ve been doing it for a long time but it also creates it’s created a lot more opportunities so if you’re not where you want to be with your network right now start reaching out send a few more messages a week and slowly but surely you will build a great network and you will very likely get more opportunities or resources to things that can help you with your existing portfolio so I hope that helps a little bit this week I know it’s not nuts and bolts real estate but it’s super crucial and important and the bigger network is as they say our net worth is our network to get out there meet some new folks and until next time have a wonderful week cheers. There’s so much money to be made the short term rentals but it all starts by having the right property if you guys haven’t yet seen my free ebook on our website rest methods.com head over there and get a copy it’s going to break down what I look for in a property in some great short cuts so that you don’t have to spend hours and hours researching at over rest methods.com and you can grab your free copy there if you want a crash course in everything I’ve really learned to short term rentals in over 5 years managing over 15000 Gasol recorded on our last live event I am happy to say we broke it down really nicely into a bunch of different models that you can watch at your own pace it takes you from start to finish from finding a property we talk about analyzing the property but then also some of the more important pieces how to find your team and how to set up everything so that you can run your operation is passively as possible and free up your time you can find that it rests methods.com forward slash virtual.
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