Response to a newbie who was anxious about networking

I love hearing that my post helped, R***! For me, I would actually sometimes write comments and then erase them before I hit submit. And now I help run the Seoul Real Estate Investing Meetup where I regularly have to address a room full of people and discuss investing! So, I've been able to come a long way and BiggerPockets was the biggest part of making all that happen.

A few more anxiety reducers / tips:

  • Most successful investors I know have been helped along the way by others and tend to be very open and encouraging. They also know the power of networking, so they're open to meeting people. They know that newbies could become potential partners, investors, clients, etc, in the future.
  • Don't take an experienced investor not answering your question or giving you more questions to think about as discouraging. Sometimes, investors will want to "challenge" you to see if you're willing to do some work - it's a like a test to see if you're worth the time.
  • One of the best networking tips I received was to try to deliver value to those you are learning from by asking, "If you need any help, I'd be happy to do some research, etc, for you," or whatever your particular skillset might be. Try to be specific in listing your skills that may be of use. If you get any takers, then that's a huge opportunity. As a personal story, I once followed up via email an experienced investor with notes from our phone call and then asked if there's anything he needed help with. He said yes - he wanted feedback on a product he was thinking about launching and asked me three questions. Instead of responding with a simple email, I created a two-page marketing report for him. That lead to more conversations and an eventual partnership. So, seize opening and opportunities and demonstrate your value.
  • If you're not sure what real estate-focused questions to ask, another great tip is to ask questions related to productivity, mindset, habits, or networking. Most successful investors I've met have done a ton of thinking about these topics and usually have systems and tools in place, and it's great to learn about these.
  • Don't be intimidated by terminology - just ask what it means. I was talking to someone this past Friday and he kept mentioning "increasing capital yield." I had no idea what he meant, so I asked, "What's that mean?" He then explained it, and I said, "Oh, you mean buying at a discount or finding ways to add value. I get it." So, there are a lot of terms, but many of them are just different ways to express ideas you may already know.
  • If you look at certain bloggers and their posts, you'll see some are more responsive than others. Start by commenting on the ones that give lots of feedback and are more actively engaging.
  • Often a simple, "I'm R***, and I'm new to real estate, but I got a lot from this post! Thanks for sharing," is a good way to start.
  • If you know what you want, then don't be afraid to include that as well. You might not get it, but gaining practice telling others what you want is good practice, i.e., "I'm R***, and I'm an SFR flipper. Having a hard time finding deals in my area, but your post was great for learning about XYZ." Sometimes someone else in the thread will jump in with a helpful comment or suggestion.
  • When you feel comfortable, I'd probably add a real photo to your avatar. You don't need to, but when you're looking to do deals, find partners, etc, and trust becomes an issue, the more transparent you are, the easier it is to create relationships.
  • And finally, when it comes to being a successful real estate entrepreneur, focus first on adopting the way of thinking and acting that successful people have, before focusing on a specific goal you'd like to achieve. So, instead of thinking, "How can I flip my first house?" think, "What habits do successful flippers have? What systems do successful flippers use?" Or more generally, "How do successful real estate entrepreneurs approach problems? How do they view challenges? What is their general outlook and mindset?" When you adopt the right thinking and mindset, actions become clearer and you move closer to your goals.

I hope you find this helpful. I'm sure you'll develop your own success formula as you progress and grow in this area. But these are tips that have helped me.

That same Friday I mentioned above, I was talking to someone who had once managed billions of dollars in assets. He was kind of scoffing at the fact that some of the investors I dealt with are still wannabes and haven't invested yet. I responded by saying, "You know what, everyone's gotta start somewhere. Everyone, at one point, didn't know what they know now, and it was only by reading or being taught by someone that they were able to learn." He nodded and saw my point.

Real estate knowledge just takes time to build. The more time you spend on it, the faster you will build it.

But definitely engage. Because that interaction helps to move you further faster!

Reach out anytime if you need encouragement, have a question, etc. Take care!