To all Mustachians with real estate experience:
Inspired by the MMM blog and by a strong desire not to become a self-loathing doughy office worker, I recently left my cushy corporate job to build a contracting business, with a focus on finish carpentry and tile work. Any advice on how to break into the market and start getting referrals? I have been networking every day for 3 weeks, but don't have so much a single lead yet.
Background: I am 30, single, and not quite to the early retirement stage yet. My passive income of $1550/month roughly matches my living expenses, but I would like to grow my stash a bit more. In the past I have worked in construction and high-end woodworking, and recently finished a complete remodel of a 2000 sqft Victorian house. I live in central NJ, and the demand for contracting services is fairly high here.
Networking Plan (Currently completing Level 1):
Level 1--Low-Hanging Fruit
Order business cards and liberally distribute them to close friends/colleagues along with an elevator pitch. Give each person 5-10 extra cards and urge them to spread the word
Create Yellow Pages listing (free)
Create Angie’s List listing (free)
Assemble a portfolio of the work I have already completed to show interested clients
Create business web page
Level 2--Medium Difficulty/Investment
Attend free/low cost RE conferences to advertise
Reach out to distant contacts
Property owners in my neighborhood
Former landlords
Business School classmates
Friends of friends
Join social media groups and attend in person meetings when possible
MeetUp
Facebook
LinkedIn
Update LinkedIn profile
Work for an expert contractor (to build skills and contacts)
Level 3--High Difficulty/Expensive Strategies
Renew NJRESN membership ($650/year)
Enhance web page and purchase online ad space
Obtain RE Agent license (~$500) and begin working with a local broker, to meet property owners/investors
Subcontract for other contractors