A newer real estate investor recently asked me, “How did you scale up your business to this level of success?”
That’s a good question! Looking back, there were many critical decisions that had to made and obstacles that we had to overcome.
Connecting with the right group of people was a big factor. I got to know real estate investors who had track records of success. Networking with like-minded investors who were driven to succeed helped me overcome fears, find new motivation, develop my skills and they kept me encouraged through the struggles.
That’s why I’m certain you’ll benefit greatly by plugging into real estate networking groups in Philadelphia.
“We built this city”
Apologies to Starship fans—we haven’t “built this city on rock and roll,” but real estate investors have been rebuilding Philadelphia, redeveloping housing in neighborhoods all over this city. When you attend real estate networking groups in Philadelphia, you’re giving yourself the opportunity to connect with people who know how to flip houses in Philly. After all these years, I’m still learning new things about real estate investing in this city. Whether you want to know how to find better deals in Newbold or you want to get into multifamily in Montgomery County, networking with real estate investors is a great way to learn things you need to know.
Get some traction
While not all groups are created equally (and some groups may not work for you), networking typically creates opportunities for investors. If networking at a meeting results in you closing a great deal on a house, finding a partner for a project, or getting advice from a private lender, wouldn’t you agree that could be worth an evening of your time? Attend each meeting with intention, focus, questions, and a list of problems you need solved… and you’ll be surprised at how you may meet someone who can help (or who knows someone who can help).
Scale up your real estate investing business
If there’s an obstacle preventing you from growing your business to the next level… If you keep hitting your head on the same ceiling… If you can’t increase your dealflow… what you might need are peers that can look at your business and help you identify your blind spots. That could be invaluable.
There are different ways to go about scaling up your business. One common scenario in this industry is the house flipper who is very good at rehabbing, who might even be a contractor, who has the connections and completes rehabs on budget and on time. If that flipper lacks skills in marketing, finding deals and reselling, one potentially profitable way to scale up their business would be to form a partnership with a real estate investor who has those skills. Participating in real estate networking groups in Philadelphia puts you in a pool of potential business partners, short-term, maybe even long-term.
Summary
Some real estate investors who were the most skeptical about real estate networking groups in Philadelphia have also benefited the most after finally giving them a good honest try.