Author: Peris Gachago

Social media has become a crucial aspect of modern business, especially in the real estate investing industry. Utilizing social media platforms effectively can bring a constant stream of new leads and opportunities to grow your business. However, many real estate investors still underestimate the power of social media and are unaware of its potential to drive success. By taking a proactive approach and utilizing social media strategically, real estate investing businesses can reap the rewards of this powerful marketing tool.

Having a limited presence online may hinder the success of your marketing efforts. It doesn’t matter the number of posts you make on your social media platforms. What really matters is the size of your audience, the bigger, the more sales and more profits. Therefore you should work to gain a substantial following.

Let’s take for example each online fan or follower can bring in an average of Ksh100 per month, wouldn’t that motivate you to strive for a larger following? Reaching 100,000 fans could result in a substantial six-figure monthly income. The goal is therefore to have a large pool of customers. In this informative article, we will explore strategies for achieving this goal.

1.   Provide Value.

Offering valuable and relevant content such as tips, industry news, and educational materials can attract and retain followers, as they see your page as a source of valuable information.

2.   Engage with your Audience.

Responding to comments, asking for feedback, and starting conversations can increase engagement and build relationships with your followers.

3.   Collaborate with Others.

Collaborating with other real estate professionals or related businesses can expand your reach and bring new followers to your page.

4.   Run Contests and Promotions.

Running contests and promotions can increase engagement and attract new followers, as users are incentivized to participate and follow your page.

5.   Use Visuals.

Including eye-catching visuals such as photos and videos can increase engagement and make your content more memorable.

6.   Be consistent.

Regularly posting and engaging with your audience can help establish your brand and increase your visibility on social media.

7.   Optimize your Profiles.

Optimizing your social media profiles with keywords, a clear description, and a professional profile picture can improve search visibility and attract new followers.

8.   Utilize Storytelling.

Sharing stories, whether personal or related to your business, can make your content more relatable and engaging, attracting new followers.

9.   Host Virtual Events.

Hosting virtual events such as webinars or Q&A sessions can increase engagement and provide valuable content for your followers.

10.                Leverage User-Generated Content.

Encouraging and sharing user-generated content such as reviews, testimonials, and photos from satisfied customers can increase engagement and build trust with your followers.

11.                Offer Exclusive Access.

Offering exclusive access to content, promotions, or events can increase engagement and attract new followers who want to be a part of your inner circle.

12.                Stay Up-to-Date.

Keeping up with current events and industry trends can help you provide relevant and valuable content that will attract and retain followers.

Conclusion.

Social media has the potential to revolutionize the real estate investing industry. By utilising it effectively, real estate investors can reach new audiences and generate leads and opportunities with ease. It is crucial to have a clear strategy and approach to make the most out of social media and achieve success in the industry.

We would love to hear from you about their experiences with using social media in your real estate investing business. How have you made social media work for you? Share your thoughts and insights in the comments section below.

Low-cost rental houses continue to be in demand. With a housing shortfall, you can take advantage of this.

Driving a new vehicle every two years. Having 3 different offices in the city. A holiday every time schools close. This is the life we desire but do not have. Yet.

And I know someone who has this and today, I will share the secret with you.

I have a relative who is a good giver during our family gatherings. He is a form 4 leaver. Unlike us who have degrees. And it always seems he has bottomless pockets.

Recently, I had a very fruitful interaction with him. His secret? Low-cost rentals.

He walked me through how he makes his money and gave me his 3 million rule. And this is how he does it.

1.     He looks for a plot in an area where the plot is available for under 2M. You can find these in Joksa, Malaa, Kangundo, Kitengela or in the counties.

2.       He uses one million to build mabati structures, single units. The total he spends on both land and construction must be 3 million or under.

3.      At an average of Ksh 2,000 per mabati house, with 20 mabati houses, he will make a cool 40,000 per month. If you take away 5,000 per month to bills and potential vacancies, you will be left with a cool 35,000.

4.     And he repeats this a lot of times.

Now, lets take what me and you would do.

We would want to use the 2M to buy a plot. Great.

We then go to the bank and take out a 10M loan to put up a 4-storey building. The bank makes us jump hoops, mortgage our relatives and every property we have before loaning us the money.  We then show our friends our new hustle. We are now the envy of our circle.

Once the loan lands in our account, we need to make a Ksh 130,000 payment per month for 25 years. And this is if we are lucky to get a mortgage at a negotiated price. Not market rate.

We put up the building, a bunch of classy one bedroom and bedsitters. By the time they are fully occupied, we have sold our vehicle to meet the monthly repayment.

Once the building is complete, we shall be lucky to have a new income of Ksh 100,000. Not with KRA sniffing in our backs. Not with the current economy. And what do we do?

We find an additional 30,000 as the income cannot match the monthly repayment. We do this for three years.

Ulcers start creeping in. Non-remitted tax increase. We raise the monthly rent to keep up. More tenants vacate. We sell another property. The bank reports increased profits. We move children to a cheaper school.  We get more miserable at work, but we cannot resign.

All we have is the pride of being a landlord but broke and miserable. We now have to keep impressing our friends as they already elevated us to landlord status.

Depression kicks in. You check out if Mathare takes walk-in customers. You find they do not. You walk to your local. EABL reports increased profits. You don’t.

How about betting to try to meet the shortfall? Arsenal loses. You do too. You did a deeper hole.

Garam Auctioneers give you a call. Depression kicks in.

Solution?

Finance the project by yourself or use family and friends.

Finance at least 50% of the project by yourself or use family and friends.

Try unsecured loans.

If you want to develop your property using a bank loan, get small amounts and build incrementally. One floor, one room at a time. Negotiate lower loan rates. Look for fixed-rate mortgages.

Do you have a friend for whom this information would be useful? Share with them.

Integrating online strategies in your real estate business is one thing that can boost your overall performance. Most people spend more hours on online platforms than on TVs, radios, and Newspapers. That shows how important it is to build your online presence for your real estate business.

This blog explains the tips for real estate online networking and how it can help grow a property business. You’ll also learn how you’ll benefit more once you start building your online network. 

We share free tips to help buyers and property investors to make the right decisions in whatever they do. Subscribe to our mailing list to be among the first people to learn our updates.

Online Tools for Networking<

Social Media

You can connect with potential clients and customers. However, it’s important to use social media wisely and not overdo it. Too much self-promotion can be a turn-off, so focus on sharing interesting and useful information with your followers.

Email 

You can connect with potential clients and customers via email, but it’s important to use it wisely. Don’t spam people with unsolicited emails. In addition, ensure you’re providing them with something valuable.

Website

Blogging can be a great way to share your thoughts and ideas. However, it’s essential to educate your audiences accordingly. Too much self-promotion can be a turn-off, so focus on sharing interesting and valuable information.

Tips for Effective Online Networking

1. Set Goals

Goals are desires you want to achieve from doing something. As a real estate investor, you can have goals on what to accomplish by the time you have a solid online real estate network. 

You should set goals that are specific, measurable, achievable, relevant, and time-bound (SMART).

Specific goals mean you set tangible and visible goals. Measurable goals indicate that you can easily quantify how far you’ve gone with your goals. You can measure your goals using analytics of conversion, views, and leads you generate. 

Set achievable, realistic, and attainable goals. You don’t have to set huge goals that are hard to achieve. Instead, once you achieve small goals, they motivate you to set bigger ones. 

Relevant goals are those that are aligned with your larger objectives. You should set goals that align with technology involvement. 

Time-bound goals are those that have a deadline. For instance, you can focus on generating 10 real estate deals within one month. Deadline pushes you to achieve your goals on time without fail.

2. Research Platforms and Communities

The internet has become a powerful tool for real estate professionals. However, only the right tools generate actual leads to your real estate network. 

Investors can build a solid online real estate network by harnessing the power of online platforms and communities. 

As we said, you can use social media, email, and websites to build your online real estate network. 

The most prominent social media platforms you can leverage to build online networks are Facebook, Instagram, and Linkedin.

Facebook 

Facebook is one of the most popular social networking platforms today. It has over 1.9 billion daily active users and continues to grow. For real estate professionals, Facebook can be a great way to connect with the right network and build your business. 

Ensure to use a professional profile picture. You can use your photo or a property photo. You should have a professional photographer take quality photos and design them a little bit. 

Fill out your profile information. People who land on your profile should quickly learn about you and your business. Include your contact information, website, and a brief description of what you do.

If you want to reach a larger audience, use Facebook ads. They are a great way to reach a targeted audience with your marketing. You can target people by location, interests, and other factors.

Join relevant groups. Ensure you join local and international real estate groups. These groups can help you build a real estate online network quickly. 

When you share content on Facebook, ensure it’s relevant to your target audience. Posts about industry news and tips for buying or selling should be your top priority. 

LinkedIn

LinkedIn is a business-oriented social networking service that operates via websites and mobile apps. LinkedIn is mainly for professional networking, including employers posting jobs and job seekers posting their CVs.  

LinkedIn o is a great platform to build an online network with professionals in the real estate industry. People join LinkedIn intending to build professional relationships, which later turn into leads. 

Instagram

Instagram is a photo and video-sharing social networking service owned by Meta, Inc. The app allows you to upload photos and videos, which can be edited with filters and organised with tags.

You can also browse other users’ content by tags and locations and view trending content. In addition, you can “like” photos and follow other users to add their content to a feed.

This social media platform helps you create an online network with video and photo lovers. It is good to draw their attention by posting high-quality images and video tours of properties. 

Websites 

A website is an online platform where you can list your properties in one place in accordance with location, price, and features. 

You can attract an audience by sharing informative and helpful tips in the blog section. Eventually, you’d have built an online network of real estate professionals.

Email 

Email is a great tool to reach thousands of individuals across the globe. You can also segment your audience according to location and interests.

The good thing is you build a one-on-one relationship with your recipient. An email can turn an audience into a useful lead. 

3. Invest in Quality Content 

After choosing the right platforms, you should fill them with useful content, not just any content. You can hire a professional to help you write the right content for your target audience. 

Investing in quality content is one of the best ways to make the most of your social media time. It means creating or curating interesting, informative, and engaging content for your target audience. 

Not only will quality content help you attract more leads and grow your business, but it will also help you build relationships with your clients and referral partners. When you provide value to your network, you become a trusted resource, and that is priceless.

4. Build Connections

At this stage, you have all it takes to build connections in your online network. You can start by replying to comments and your audience’s questions and concerns.

You can learn from their experiences, get advice and support, and collaborate on projects.

Ensure you join relevant online communities and forums on social media. In these groups, ensure you are an active member and share informative content. This idea will help you connect with professionals in the real estate market. 

You can also attend online events and webinars. In these events, you meet people with similar goals and understanding of the real estate network. Be wise enough to get their contacts for future collaborations. 

Conclusion

As we have seen, real estate online networks are easy to build once you follow our tips in this blog.

You can read our blog post about the key professionals you should have in your real estate network. 

Feel free to comment below on your views about creating a real estate online network.

Frequently Asked Questions 

How do I make my real estate website stand out?

You start by designing your website to be visually appealing to your visitors. Afterwards, fill it with high-quality and informative content. The final stage is marketing your content through Google Ads, social media and email marketing.

What are the top tips for real estate online networking?

You can start online networking with the following tips.

Set realistic goals

Choose platforms to network 

Attract professionals with quality content

Build strong connections with buyers and other investors

Real estate investment is a process that involves a lot of money and commitment. As a result, real estate due diligence is important to ensure you make the right purchase decisions.This blog explains the key principles of due diligence in real estate that every investor should know. We keep you posted with current industry trends to ensure you don’t miss out on anything. Therefore, subscribe to be among the first to learn of our updates.

What is Real Estate Due Diligence

Real estate due diligence is the process of investigating a property before entering into a contract to purchase it. During the due diligence period, the buyer will get some property valuers to appraise the property and investigate the neighbourhood.

In addition, the buyer should also check the property’s interior and exterior to ensure that everything is in good condition. There is no need to buy a property in bad condition.

The buyer will also do a title deed search during the due diligence period. If anything doesn’t add up, the buyer has the right to withdraw from buying the property.

Suppose the buyer finds any problems with the property during the due diligence period. In that case, they may try to negotiate with the seller to have the problems fixed, or they may cancel the contract and get their money deposit back. 

Key Principles of Real Estate Due Diligence

1. Understand the location

It’s no secret how location is usually the main point of buying a property. As a homebuyer or an investor, you should have a location in mind where you need to invest in property.

For instance, if you are looking for a home to settle in, you may consider areas with rich soils and water for agricultural activities.  

On the other hand, investing in an income property, you probably want a busy town with high growth potential. 

Whatever reason you want to buy property, you should first investigate your desired location and get familiar with it. In addition, ensure you know everything, including the available amenities and infrastructure in the area. You should be comfortable with the location and everything in it before buying.

2. Understand the Property

The location might be good, but the property may be a turn-off. That’s why you should first know what you want in a property before purchasing it. For instance, consider the size of the rooms, bathrooms, ceilings, floor, backyard, or parking space if you are buying a home.

On the other hand, when buying income property, ensure it’s in good condition and readily marketable. In most instances, business people like big stores to accommodate their future expansion. Therefore, check for properties with suitable space for business expansion. In addition, tenants also like spacious rooms.

3. How is the property market?

Understanding the current market trends in the real estate sector is essential. You should know whether it’s the buyer’s or seller’s market. Buyers benefit in the buyer’s market, where there are many properties and few buyers. 

You can get the market trend via social media, real estate groups, property websites, TV news, and newspapers. Always ensure you belong to a real estate community to learn about all market trends.

4. Who is selling?

In most cases, you may learn of a property for sale through an agent or an advertisement. Knowing the current property owner is vital before entering into a contract. 

You should first know the seller’s background. For instance, research whether they have other properties and how long they have been in the property business.

It’s also a good idea to ask them for a certificate of good conduct to ensure you are not dealing with a criminal. Remember, you are about to part with lots of money, so you better be careful about whom you deal with.

5. How is the contract?

Itâ’s essential to read and understand everything in the contract form. Let your lawyer elaborate on everything if you do not understand legal terms. Ensure you have a good lawyer who can present you in court if anything about the property goes wrong in the future.

Ensure that you are comfortable with the contract terms before committing yourself. You should only close the deal when you know the property and the contract. The property should be worth the price you buy it.

Benefits of Real Estate Due Diligence

Due diligence is critical in any real estate transaction, whether you’re buying, selling, or leasing a property. It helps ensure that all parties know the risks and potential rewards associated with the deal.

Identifying and mitigating risks

Due diligence can help identify potential risks impacting the property’s value or the transaction itself. By identifying risks early on, you can work to mitigate them before they cause problems down the road.

Avoiding costly surprises

Surprises can be costly, both financially and emotionally. Due diligence can help avoid unpleasant surprises by uncovering hidden problems or potential liabilities.

Strengthening negotiating position

Knowledge is power, and that’s especially true in negotiation. The more you know about the property and the market, the stronger your negotiating position will be.

Peace of mind

Perhaps the most important benefit of all, due diligence can help give you peace of mind. Knowing you’ve done everything you can to research the property and the transaction can help you confidently move forward.

Conclusion

The due diligence process is critical to the success of any real estate transaction. By thoroughly investigating the property and all aspects of the transaction, buyers, and sellers can avoid many potential problems.

After being comfortable with the property you buy, it’s essential to get a real estate agent to help you ease the process. We understand that the property buying process can be tedious, and that’s why we offer to help you get a reliable real estate agent to be your guide.

Frequently Asked Questions

1. What are the main factors in real estate?

When investing in real estate, you should consider location, property size, and price. Those are the main factors that determine the success of real estate investment.

2. What is the due diligence clause in real estate?

The due diligence clause in real estate allows the buyer to investigate everything about the property before entering into a purchase contract. 

3. What is the due diligence process?

Due diligence is often done during business transactions to protect buyers from suffering losses later. Due diligence allows the buyer to withdraw from the contract without penalties if they feel uncomfortable with the property.