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Episodes
Tuesday Jun 06, 2023
Mastering Real Estate Networking as an Introverted Investor with Steve Arneson
Tuesday Jun 06, 2023
Tuesday Jun 06, 2023
On this episode, Taylor Loht and guest Steve Arneson discuss actionable guidance for introverted people who want to be successful in real estate investing. They explore the importance of networking in real estate investment and how to do so, even as an introvert, effectively. Steve shares his own experience of success investing in real estate using confidence and delivery when introducing yourself, educating yourself in sales and public speaking, following the four Cs of communication (clean, clear, consistent, and concise), strategically using business cards, making investments with an understanding of the market cycle, and nurturing extraordinary relationships.
[00:01 - 07:43] Opening Segment
- Welcoming Steve to the show
- Real estate is a network and people-heavy business, which can be difficult for introverted people
- Steve shares some actionable tips to build a level of comfort over time
[07:44 - 13:55] From Introvert to Extrovert: How to Network Effectively and Find Success in Real Estate Investing
- How learning what other people are doing can help
- The importance of gathering up the courage to walk up to a smiling group of people
- Steve’s tips for a meaningful conversation
- Having an intention before walking in the door
- Setting expectations for yourself before networking
- Fishing for prospects in the right pond
- Having a good access strategy and conversation
- Having an exit strategy for conversations
[13:56 - 24:49] Tips for Building and Nurturing Extraordinary Relationships
- Following up is vital in business and sales
- Have fun with conversations because people appreciate creativity and authenticity
- If you are unsure of the dress code, it's better to overdress
- Avoid profanity in video messages
- Check for hygiene and appearance before networking
- Don't bring business cards to initiate a conversation
[24:50 - 30:35] Closing Segment
- Best investment: 5plex bought for 900 with 200K put into it, now worth 1M and making 100K/year
- Worst investment: development project opened up sales for the entire building before cost escalation
- The most important lesson learned: operating your own business is the best and fastest way to go through personal development
Quotes:
"Drop your pride and ego. It's okay to feel vulnerable in those new spaces. That's common for everybody in a new uncomfortable space." - Steve Arneson
"It's all about the confidence and the delivery in it." - Steve Arneson
Connect with Steve!
Instagram: https://www.instagram.com/steve_arneson/
Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/
Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.
Join our Passive Investor Club to access passive commercial real estate investment opportunities.
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