Who you know in Michigan?
It is said that who you know is often more important, more profitable and more powerful then what you know. When it comes to making consisten profits in Michigan real estate - I strongly agree with that statement.
Last Saturday, during the workshop in Southfield, during one of the breaks, I have a guy talking to me who is from Sterling Heights. And he’s been doing real estate for a long time and he knows how to find foreclosures. Has a whole remodeling firm, knows how to fix houses and he’s in desperate need of private money because he’s very good at finding deals and he just doesn’t know how to get private money.
And I asked him, I said hey, do you know anyb other real estate investors else in Sterling Heights that’s doing what you’re doing and maybe they can help you? And obviously couple of my Inner Circle members came to my mind right away because, you know, these guys had been trying to raise some private money and they were having a pretty good success ratio so far.
And he said no, I don’t know anybody else. And that whole conversation pretty much got repeated maybe six, seven, eight times, people coming up to me and saying, well, I’m in that area. And I said, oh, you know, you need to get together with this person or that person who came to my previous seminar or that Inner Circle members.
And here is this thing in a nutshell. You have to really work at building your investor network, no matter where you live. So if you live in Port Huron or you live in Farmington Hills or you live in Ann Arbor, I would suggest to you that you need to have a list of local investors who can sometimes help you find deals, sometimes you can deal hours through them, sometimes they will find buyers for your houses and sometimes they will find more sellers to whom they cannot do anything but they’ll give it to you for a bird dog fee.
No matter where you live you need to have at least ten people in your black book who are local investors. It is astonishing to me that how many few people work on this consciously. And obviously the easiest way of doing that is ........
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