Is Networking Under rated?

The power of networking I believe is one of the key components required if you want to be successful in property investing, this is just my opinion from my experience. What do you think?

Of course you need to network with the right people, no point networking with people who have no track record of ongoing success and proven strategies that work. This could also include re agents, I make them my friend rather than enemy, and sourced some brilliant deals.

You can research till the cows come home which is great but why reinvent the wheel? does mean you don't research and do your homework.

I have pretty much piggy backed from many who have been successfully doing what I want to do, using a number of strategies. Perhaps I have tweaked it to suit my personality, so I am comfortable with in terms of risk, my finances, my stress levels etc.

MTR

 

I would be nowhere (financially) today without networking. Nuff said.

 

Yes yes

 

Agree 100%

Devank's development comes straight to mind,that said I have read heaps of posts in which networking of knowledge has inspired others to pursue their investment goals

 

Networking is so important!!!

If you want to be happy and successful networking is the key .

 

I can't say that I have networked. Still I have built a small very small portfolio but a portfolio nonethess.

There seem to be good benefits in networking. Trust is paramount. Many racial and cultural groups use networking to their advantaget. It is instilled in them from a young age and extends into their business life.

 

I cant think of a single market eg real estate market, jobs market, etc..whatever and wherever where networking isnt important.

 

In some jobs it's not what you know, it's what you know AND who you know.
You could still know someone, but if you don't know anything you won't get very far.

 

Networking is really a given essential if any business wants to make it big. It's a no brainer imo.

 

My general dislike for people makes it difficult to network I find.

 

Yes it's true in some cases but you can also consciously improve networking skills to then leverage off their expertise/opportunities.

 

Is it working for you portfolio wise?

 

I don't generally enjoy talking to people. I like keeping to myself. My job for the past 5 years has helped me achieve this.

In a few weeks I'm going to have to be the total opposite for 6 months. It's going to be interesting having to network and socialise.

 

Wouldn't be anywhere today if it wasn't for my networking skills.

 

It's not not working for me

 

btw I love the Vandelay industries touch

 

Just incase anyone is interested, i found this book to be a great guide/help.

 

It's give and take in networking. If you're all take and little or no give you're out of the network.

 

I agree. I'm not saying to just take.

 

I don't really network. I will use clients where they are in a field of skills I need (sparky, plumber etc) but I pay them in the same way I expect to get paid.
I have found many type A networkers will usually want more than they give and I view that as opportunistic. For people who I like and are not self centred they will get the freebies or mates rates- but often I find people are delusional in what they think is an even trade. The amount of work in me doing a conveyance for free (generally only family get this) especially time and importantly risk far outweighs the time and risk of a tradie unblocking of a drain.

My portfolio is crap so I expect I could have got further with networking but I'm ok with that.