In our last article, we said that one of the most important things to do as an investor was to see other investors as allies. Remember that what most people forget is that in every meaningful area of life, you’ll need masters; people that have walked the path and can offer insight.
Make networking a priority and you will not only gain more contacts but also gain more deals. Every opportunity you get to close a deal will have a much greater chance of succeeding. Regardless of where you are in your business, you need to constantly focus on real estate networking.
The following tips will help you create better conversations and build awareness:
1. Talk About The Bad Deals Too
Most people love to talk about the positives and past success. Nobody wants to talk about that time they lost a lot of money on a bad call or when a deal went south. However, some seasoned investors may become skeptical of people that only mention best-case scenarios.
We believe that talking about a failed deal is very valuable since it will create more trust and transparency and give others insight into how a difficult situation can be managed.
Don’t be one of those guys who say that they never had a bad deal, instead, proactively talk about those times things went south. It will make you more likable.
2. Gain Visibility
Before you start raising capital or promoting a deal, focus on building a network, community, or social media presence. Put yourself out there as much as you can by creating valuable content, going to meetups and conferences, and building a thought leadership platform.
You might want to laser focus on a few social media outlets, but it’s better if you spread yourself out to as many channels as you can handle. Take advantage of the unique formats that every one of them offers!
For example, you can use Youtube for more long-form videos, while other platforms like Tik Tok can be used for flash advice. Facebook and Instagram are of course the most popular and you should plan a strategy to make the most out of each
The best part is that if done right, you can monetize some of them and have an additional source of income. By increasing your visibility, people will be more drawn to interacting with you and maybe be featured on your own platforms.
3. Be Professional
This also means showing that you care. Make an effort to present everything you post and share most cleanly. Remove glitches, typos, or anything that might make you look unprofessional.
Impressions go a long way. It’s really important to be aware of what you say and how you say it. Even when joining a zoom call from home, make the effort to look the part and always aim to represent your ideal. Always be professional.
4. Research Your Audience
Make the best use of your time and energy and know where your target audience is. You’ll want to find accredited investors that have enough capital to move forward with a project. You can do this on your own, but it’s better if you partner up with other investors and start organizing meetups to attract the right kind of people.
Working along with other investors will go a long way. Your efforts to attract the right audience and turn them into partners will be more focused this way, since there’s a good amount of work to be done, like marketing the events, preparing presentations and speeches, sharing travel costs, and so on.
5. Respond Quickly
Most of the time, when someone is ready to invest, they will come to you. If one of your contacts decides they’re ready to invest $100K and contacts you over email, text or call, be ready to help and get back at them as soon as possible. Don’t lose an opportunity by failing to respond quickly enough.
Remember that you’re in a very competitive space. Assume everyone else in the competition is just right by the phone waiting for THE call. Besides, responding and properly onboarding new investors into a project is also a strong sign of professionalism. Don’t let the days slip by!
Before we finish, there’s something you need to consider! You need to adopt a different mindset. You have to be adaptable.
Anything can happen, things can change rapidly and caught us off guard (like a pandemic, for example). There’s always something new on the horizon, a conference, social media platforms, and so on. Be open to experimenting and try new things to see what works. If one strategy stops working, be adaptable.