Tim Hubbard explains how building a real estate network gets you better deals and more opportunities. Learn the industry lingo, define your goals, and show up to local meetups, social media groups, and masterminds. He shares how his own travel introduced him to peers who became sources for deals.
We got another quick, actionable episode for you this week, so stay tuned. Let's jump right in. Welcome to Short Term Rental Riches, where we'll discuss investing in real estate, but with a specific focus on short term rentals to help you build wealth faster with as little headache as possible.
We're here again talking about real estate, usually with a focus on short term rentals, but. But this week I want to talk about a little more of a broad subject. And that's our network. That's our real estate network. This question came up recently and I answered it real briefly in a prior episode. But I got to thinking, you know, our network is really, really important and the more people we know in the real estate world, the more opportunities come along. So I wanted to break it down a little more this week and kind of my approach to meeting people and in this space and what I've done in the past. And this is also for someone that's just getting started, right? Some of the things that I would do. I have a good friend that he's done very, very well now. Probably owns or has owned around 10,000 apartments up to this point. He used to be a commercial banker, so he was on the other end of the commercial real estate deals. And he was doing all these deals and then he real, you know what, I want to be on the investment side. And so he switched over. Now he's talking about the commercial real estate space, which is a little different. When I say commercial, I mean more than four units. But he always says it's not fair, you know, it's not a fair playing field. He was on that banking side for years and he met a lot of people. So a lot of good deals came across his table. And that's how he's got a lot of good deals now. But we can build our networks and the more people we know, the better off we're gonna be. I'm down here in Brazil now. I just got down here recently. Feels great to be back, by the way. And a friend of mine introduced me to a friend down here who's in real estate. And then she introduced me to other people that are in real estate. And that's just kind of how it works, right? The more people you meet, of course, the more involved you are in it, the more opportunity is going to come up. So I want to give just a couple tips. Before we can really build our real estate network, we have to be able to show other people that we're excited about it, we're involved in it, and of course this is going to be more for people that want to do real estate full time, but not necessarily just for starters, we kind of need to know what we're talking about, right? We kind of need to figure out some lingo, some investment terms. If you've been listening to this podcast for a while, hopefully you've picked some of those up. If not, go back. We talk about all things on this channel, real estate related. So that's kind of the first thing. We need to understand some of the lingo and be able to talk to other people in a professional manner to allow them to know that we're serious about what we're doing. Right? So after we have that lingo down and we also know what we want, right? That could be helpful too. But you don't actually always have to know what you want. Maybe you don't know what you want until comes up or the opportunity presents itself, right? So the more people you know in the space, the more opportunities are going to pop up. So after we've kind of got the lingo down and we can talk professionally about real estate, whatever type of real estate we want to be in, whether it's vacation rentals, whether it's single family homes, whether it's flipping properties or wholesaling or commercial investments, whatever space it is in the real estate world, as soon as we can talk about that comfortably, well then it's a good time to start reaching out to other people that we want to be involved with, that we want to communicate more with. Jim Rohn is famous for saying, you know, we are the average of the five people we spend the most time with, right? So if your five closest friends are not involved in real estate, they're not interested in it. That's not a problem. It just means that your world, your network is going to have less real estate conversation happening and likely you're going to have less opportunities. So once we can talk professionally about the niche we want to be in, well, then let's reach out to people, right? We can reach out to podcasts, hosts, we can reach out to YouTube channels, and you can go on Facebook and you can find local groups. In almost every big city there's some sort of local real estate group. And that is a great place to meet agents that are trying to sell properties. That's a great place to meet brokers or lenders. And it's a great place just to talk to others about real estate. I'm joining another mastermind in real estate in the short term rental space. And I'm always Trying to go to seminars and listen to podcasts, I like to be learning pretty much every day. But the group that I'm joining is a higher level group and so it's really helpful for me at the stage that I'm at. So there's different groups for each stage and Facebook, Instagram and.
LinkedIn and all the social media platforms can be a really good place to start there. So once we know where we want, what our goals are and we understand the lingo and we can talk professionally about real estate, of course, you don't have to be an expert off the bat. You can learn this as you go, right? But once we know that, reach out to some of these groups and just get involved. It's really just about showing up. If you don't show up to these things, then your real estate life is not going to change that much. Phone calls are better than nothing, right? But getting in person, face to face, or if it's on a zoom call, that's something that we have at our fingertips now. And that is much more effective, I think, than just making phone calls. So if your network is small, then something needs to change on your end, right? You need to start talking to more people, you need to join more groups, you need to send more emails, you need to set up more meetings and consider joining some paid memberships too. That's what they're there for. So I just wanted to talk about that because I do think that it's really important. And it just kind of dawned on me as I'm down here in Brazil now, I just left Colombia where, you know, we went to brunch the Sunday before and it turned up that like almost everyone at the brunch was in real estate some way or another. And then I get down here and immediately I'm connected with other people in real estate. So this is my life. I've been doing it for a long time, but it also creates. It's created a lot more opportunities. So if you're not where you want to be with your network right now, start reaching out, send a few more messages a week and slowly but surely you will build a great network and you will very likely get more opportunities or resources and to things that can help you with your existing portfolio. So I hope that helps a little bit this week. I know it's not nuts and bolts real estate, but it's super crucial and important. And the bigger our network is, as they say, our net worth is our network. So get out there, meet some folks and have fun doing it too. Until next time. Have a wonderful week. Cheers.
