Tuesday, June 2, 2009

Give Your Real Estate Investing a Boost in 2009

Want to give your real estate investing a boost in 2009?  Thinking that the best way to make it happen is learning a new investment technique or getting better pricing out of Home Depot?  Well, that may help but here is another idea: Find like-minded people who share common goals that you can help, and in turn are likely to help you!  In other words, Network!

Take an inventory of who you know and who else you still need to meet!

  • Property Sources- so you can find more properties in less time
    • Realtors who specialize in working with investors
    • Banks that have REO
    • Investors who wholesale properties
    • Internet web sites that list investment RE
  • Financing Sources: so you have the right financing when you need it
    • Friends and relatives with capital to lend- long term or short term
    • A long-term mortgage broker that specializes in working with real estate investors
    • A bridge-loan broker to provide funds fast for quick turn-around opportunities
    • Commercial loan specialists for your larger projects- one for short term loans and one for long term loans 
  • Property Improvement and Analysis Help: So you can turn a property as quickly as possible
    • Roofers, framers, drywall, electricians, plumbers, etc.
    • Landscapers, sprinkler specialists, and concrete people
    • Appraisers and selling agents

How do you meet people?  This is step one on the way to building a network.  Here are some suggested sources for building a network:

  • Send an e-mail to Clear Day Capital.  Tell us who you are trying to meet and we’d be glad to introduce you
  • Join the Utah Apartment Association and attend their meetings and ask other members about their network  (click the above link to learn more)
  • Real Estate Investment Clubs.  The are many around and you can meet people at all of them. 

How do you stay in touch?  This can be the hard part!  Why? Because you’ll build a list of hundreds of people!  How do you keep in touch with them?  Here are some suggestions:

  • E-mail:  We use  iContactIt’s fast, it’s easy, it’s inexpensive.  Want a free trial?  Click here: Free 30-day iContact Trial
  • Invest in your education.  Click hear and buy a copy of Jeffery Gitomer’s Little Black Book of Connections for lots of great ideas of how to make and keep networks.

Networking… help and be helped.  The key to successful networking is to first ask what you can do for the other person.  Sometimes the answer is obvious.  For example, you can buy a house from a real estate agent who specializes in working with investors.  In other cases, it may have nothing to do with real estate!  For example, you give an investor an lead on a reliable auto mechanic and that is your connection.

Sometimes there is no good connection… that’s OK! Move on to the next person that needs help and can help you!

Can Clear Day Capital help you make a connection? E-mail us at info@cleardaycap.com and let us know who you want to meet.  We’ll do everything that we can to create the opportunity for you!

P.S.  Want to learn a lot about real estate?  Contact Shawn Watkins at investorsworkshops@comcast.net to join him at his round-table discussion real estate club!

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