Are you just beginning to become a Real Estate Investor? Have you purchased your first investment property yet? Did you know that ninety percent of those that strive to become investors quit before they buy their first property? While all of this is alarming, don't worry about it.
Buying houses will become a very easy part of your life once you get the hang of it.
So, what do you do in the meantime? What do you do in that time before you purchase your first investment property? I'll tell you what you do, you network and learn and then network and learn some more.
There are a ton of social networks available for the Real Estate Investor.
Some of the most noted networks are Real-Estate-Investing.
com, REIClub.
com, BiggerPockets.
com and RealEstateInvestor.
com.
You can find people from all walks of life and all nations on these websites.
But what are you looking for on these sites? You are looking for a mentor.
Someone to show you the ropes, someone that has made their money and is possibly looking to give back to someone less experienced.
There is nothing in life for free so don't expect them to be giving you all of their knowledge without anything in return.
They might want you to track down leads or run comps or work an open house for them.
Just be a servant for a few months and try not to question their tactics so much.
My original mentor cost me a ton of time my first three months with him and then I made over one hundred thousand dollars with him in the following nine months.
Life changes fast and you have to be ready when those opportunities present themselves.
Luck is merely opportunity meeting preparedness, so be prepared.
On the social networks you can do a search for your home town and you might be surprised just how many people in your local area are on the network.
Take videos of yourself going to look at deals and post them to the videos section of the website.
Write down your experiences for other members to read.
You have heard the saying that misery loves company, well, it really does.
Tell people about the negative experiences you are having with the business.
This will do two things.
One, it lets people know you are a real person and two, as long as you do it in a positive way, it just might bring out your mentor to help you.
Asking questions in the forums is another huge benefit to belonging to a social network in the REI community.
You can ask questions and people will fight to be the best answer, each showing they know more than the person before, all totally free.
Product reviews for REI products will also help you make the right decisions about your next purchase.
I would advise you to check the products out in the forum as well.
So there you have three or four benefits to social networking as a beginner in Real Estate Investing.