How can a newbie start networking? - Posted by Parag

Posted by eman on June 04, 2005 at 16:56:23:

What sould a newbie have on his business cards before going to a rei club for the first time.

How can a newbie start networking? - Posted by Parag

Posted by Parag on June 01, 2005 at 24:18:57:

I was told to setup a team. Including an appraiser, agent, lawyer, accountant and title company. I know it helps to know people who are professionals and they can save you time and money and make you money.

I am having trouble hooking up with an agent or an appraiser. Maybe it is because I mention comps. I know they know the values. But they seem to want business first and I cant seem to be able to provide at this stage. I had an agent tell he charges $250 for a CMA. Right now my market knowledge is weak.

I am also thinking even the other professionals would blow away a newbie because they feel he or she may not be serious. Kind of like a catch 22 about getting job with no experience.

I am wondering how a newbie can start to connect with real pros.

Parag

Re: How can a newbie start networking? - Posted by Mike-OH

Posted by Mike-OH on June 01, 2005 at 05:32:39:

I think that you answered your own question. Busy professionals don’t want to waste their time dealing with someone who isn’t serious. Realtors, appraisers, and other investors will go out of their way to be helpful IF there is something of value for them. When you appear to be less than competent, they will assume that you are one of a thousand other wannabes and just blow you off.

You don’t need comps until you’re ready to buy (and really not even then). You said that the realtors and appraisers “know the values”. You are correct - they know the house values because they’ve looked at so many houses. You can do the same thing (for free) by simply looking at every house for sale in your area. Since there are probably dozens or hundreds of houses for sale, this may take a few days. However, after you do this, you’ll “know the values” just like the realtor and appraiser. Knowing the local house values will make you appear more competent to your local professionals and they’ll take you more seriously.

When you approach a realtor, you should be ready to buy. Have your financing lined up, know the local house values, and be ready to buy when the realtor finds you a deal. This will build your credibility and soon you’ll be taken seriously as an investor.

Mike

Re: How can a newbie start networking? - Posted by Ralf

Posted by Ralf on June 01, 2005 at 01:22:17:

Join your closest REIA. Look to the left of your screen under “resources” and click on “real estate clubs”. You can find all types of people to mingle with: money lenders, potential partners, agents, you name it. Get some nice Business cards made up and pass them around to all the regulars.

Ralf