Many of us have heard the phrase “It’s not what you know, it’s who you know”. While some may argue the validity of that statement, it’s no secret that networking plays a large role in various industries. You’ve learned networking as an individual, but how do you transfer that to your business?

Online Engagement

A major component of growing your business is social media. Make your presence known! Effectively use Instagram, LinkedIn, Facebook, and Twitter to promote your business to audience members. But don’t just stop at posting. Take it another step further and engage with your followers. Respond to comments, throw some likes here and there, and repost relatable content. Make your audience members feel seen. A little engagement can go a long way.

Attendance

Stay in the game by attending conferences and industry events. Although at this very moment in quarantine, it may not be possible to attend in-person events, there are plenty of opportunities to meet people virtually! Come with questions and have an idea of who you would like to speak with once you’re there. That means, do your research! Growing your business through networking will pay off if you put in the work. Not only will you meet other industry professionals at these events, you can also expand your knowledge and gain new skills. In addition to learning hard skills from experienced industry professionals, this is a chance for you to work on your public speaking and networking skills as well. Going up and striking conversation with strangers can seem intimidating, but just as anything else with practice you will improve. So, don’t be afraid to sign up for various events and get you and your company’s name out there!

Give Back

Look for ways to give back locally. This could be hosting educational events on your industry, volunteering, hosting podcasts, sponsoring events, and more. Giving back is not only a way to get your company’s name out there on another level, but you can also create a sense of purpose beyond just making money for your business. By giving back, you are opening your pool of professionals to even greater margins. Use this as another opportunity to gain traction to your business, learn what customers want, and share your experiences and knowledge with others.

Overall, the most important thing about networking is to follow up! It’s great to meet new people with the purpose of expanding your business, but it means nothing if you don’t reach out. And reach out for purposes other than when you need something. Even if it’s just a quick line once a month on LinkedIn to say hello. Networking is all about building long term relationships and looking at the bigger picture. You never know where these relationships may go!

Investing in a fix & flip property but not sure how to make it unique? Or maybe you’re searching for more investment rental properties but aren’t quite sure what to pinpoint. Alexa has certainly brought many of us into a new sector of technology in our homes. But have you ever thought about taking it a step further for your clients? What if you could have built-in smart systems within your home? Add some flair to your investment properties to broaden your tech-savvy audience.

For starters, you may want to think about investing in 5G connectivity. Keep up with the trends, and more importantly, the internet connection! Whether you are looking for an investment property or engaging in a fix & flip, you want to ensure the best of the best for your clients. For a faster and more reliable connection, 5G is certainly worth checking out for your properties. To handle this capacity, you would also need to look into updating the technology of your infrastructure. The update will go beyond changing your connectivity to 5G but will allow you to make other improvements in the home. Your clients would be thrilled to know their property has the strongest internet connection.

Smart Doorbells

Smart doorbells alert residents when someone rings the door and shows a clear image, based on the connection to a smartphone. This is a great highlight for clients because not only does this add another level of safety, residents no longer have to hesitantly peek through the curtains to see who has approached. There are a variety of smart doorbells that can be installed, and some systems even send an alert when someone is approaching. A simple addition to a fix and flip that can go a long way.

Smart Heating

Looking for a unique appliance in your next investment property? Smart heating may be your answer. Smart thermostats control the temperature in buildings via Wi-Fi and cell phones. They can automatically change the temperature depending on the time of day for preference. Some systems are even able to detect when residents are not in the building based on the location of the connected phone. The heating system can automatically shut off, which in turn saves money. For renters, saving money is a key component to properties so smart heating will surely be a feature worth installing.

Smart Lighting

Smart lighting allows residents to turn lights on and off simply from the touch of their phone. In addition, the brightness and colors in different rooms are also able to be controlled. Depending on the system installed, motion sensors can detect a presence and automatically turn lights on and off as well. Smart lighting not only offers convenience but security too.

There surely are many other smart appliances you could add to your property for home improvement. The convenience, long term money-savers, and improved security measures speak for themselves. Not only will a greater pool of investors be interested in these advanced technological applications, but a larger profit can also be made at the conclusion of a fix & flip. Be sure to include smart technology at the top of your list for your next investment property!

Many companies, including Bridge Loan Network, have implemented a new policy where employees are to work remotely during this coronavirus pandemic.  And if you’ve never worked from home before or for this long of a time, then this can be a bit challenging.

Here are four tips for working remotely during this time:

Stick to a Routine

Although we are working remotely, and our “normal” routine has been disrupted it’s important to stick as close to your normal routine as possible. This includes taking small breaks throughout the day, and lunch break to step away from your office. These breaks are vital for your mental health and will help improve your ability to focus when it’s time to get down to business.

Starting your day and ending your day around the same time is also crucial. Our homes are now our work stations which makes it seem impossible to step away, as you can easily check your emails anytime. But by creating separation in the day between work hours and home hours you will help create a sense of normalcy during these stressful times.

Create a Designated Workspace

If you don’t have an office in your home, pick a corner or room in your house to create your designated workspace. This can also help you create separation in your personal and work life where you have a specific place you can hunker down during normal working hours, and then “leave” when the workday is over.

You can also do this on your computer or laptop you are using for work if it is your personal laptop.  For example, I’ve created a separate profile on my laptop that I use just for work. This houses all my work documents, email folders, and favorite webpages. Then when I am done for the day but still need to use my laptop I can switch profiles. This way I am not constantly checking emails throughout the night and I can start the day refreshed.

Stay Aligned with Company Culture

It’s important to maintain the team morale and although we cannot all be together in an office setting, or meeting after work at happy hour staying connected to both the company culture and your teammates is important. Continuing those social interactions although remote will keep your company culture alive. Small things like sending funny emails, playing virtual games, or even Zoom happy hour calls can help reduce the feelings of isolation and anxiety, knowing everyone is in this together and available if you need them.

Embrace Technology

Technology is the reason we can all work from home in the first place, so embrace the different ways you can connect with your team. This can go beyond just working on the computer or phone calls, but through the different software solutions, you can adopt. Many including our team are relying on Microsoft Teams, Skype, Zoom, GoToMeeting and our Bridge Loan Network software while working from home to stay connected to each other as well as our customers.

Many of these software solutions also allow users to see each other face to face (virtually) so embrace the webcam too. Webcams can help in both meetings and webinar sessions as people can see who is talking and non-verbal cues that are important in conversations. Plus, it helps your team feel less isolated and alone.

The Bridge Loan Network software is a cloud-based system that also allows for your entire team, and customers to work on the same loan file in true time while working remotely. Plus, all training on the software can be done virtually, so if you or a member of your team would like more training on the platform contact a member of our team today.

Change takes time to get used to, and everyone’s work situations and team dynamics are different, so be mindful to cut yourself some slack especially during these stressful times.

This quarantine has surely changed everyone’s day to day routines. We have all had to adjust to the world as we know it while maintaining as much normalcy as possible. The real estate industry has been navigating through these trying times, just like everyone else. One thing for sure that many have relied on is the use of technology. Schools have moved their classes online, companies are holding virtual meetings, and more. The real estate industry took advantage of technology to continue supporting its clients in all efforts. So yes! You can still house hunt during this time, and that is thanks to technology!

3D Tours

This quarantine ironically provides many benefits to those who are house hunting during this time. Many companies have hooked onto the virtual reality and have created 3D tours on properties. Panoramic photos that are taken of the property allow for the 3D showings to occur. Websites allow users to be interactive and make it feel as if they are really there. They can “walk” through spaces virtually and see everything just as a normal showing would be. This convenience allows clients to check out properties while still in their pajamas!

Taking Advantage of Extra Time

Applications such as Zoom, Teams on Microsoft, Skype, and even FaceTime allow for companies to continue business as usual. This includes adhering to clients who want to view properties. In addition to being able to view properties from the comfort of your own home and continuing to stay safe, chances are most clients have a little more free time on their hands. This quarantine is forcing all of us to take a step back from our typical, busy lives, and in turn, more time can be dedicated to carefully searching into all aspects of properties for sale. Clients may even have extra time to view more properties compared to being under normal circumstances.

Broader Reach

Virtual property tours are also a great alternative to those looking into properties out of state. Rather than making the long trek to visit a property, through the use of technology clients can do the same thing while being safe at home! The use of technology for property tours is a win-win situation. It allows those in the business to reach a larger audience, and it allows clients to check out more properties without spending the gas money to travel or time being stuck in traffic. This innovative virtual reality can truly benefit clients by allowing them to look into anything and everything that interests them.

It’s no secret that social media can go a long way. And when used effectively, it can make great differences in your business. Platforms such as Instagram, LinkedIn, Twitter, and Facebook have taken off to allow individuals to reach a broader audience. Social media is amazing nowadays, and you can quite literally reach people across the globe with just the touch of your fingertips. But maintaining the right attitude and energy is essential for the intent of the message. Here are some tips to maximize your visibility and engagement with your business.

The Power of the Hashtag

I know you’ve seen them! Don’t underestimate the power of the hashtag. That simple character works wonders when used effectively. When posting on social media platforms, you’ll want to be sure to pick out keywords to put a hashtag in front of. So, if you’re writing a blurb about cell phones, you may want to include #technology for example. Hashtags are key components to maximizing the visibility of your posts because when individuals quickly search keywords that you’ve included, your post will show up. Embrace the hashtag!

Less is More

Don’t feel pressured to push out meaningless content every hour. Organize your content in a fashion that highlights exactly what you want to say and say it! With that being said, know your platform. You may post differently on Twitter versus Facebook, and the main factor to that is the character limit. There’s no need to beat around the bush and create long, overdrawn-out posts. Social media can be used to capture your reader’s attention quickly and concisely. Stand out from the feed of users (with the help of hashtags) and tell them what they need to know. Consistency is key! Make sure you have a regulated schedule of appropriate posts but don’t overdo it.

Engagement & Interaction

Find a way to engage with your audience members. Are you including a #TestimonialTuesday? Or a #MotivationMonday? Find something that suits you and your business and roll with it. Another form of interaction includes showing those that work behind the scenes of your company. People want to know who is behind the hard work that contributes to your business succeeding. Of course, promoting your product is important on your platforms, but showing the faces of your workers gets people’s attention. Mix up your posts with information based as well as company fun photos and content. Let the world know who YOU are as a company.

And don’t forget to follow Bridge Loan Network on all our social media platforms!

When you or your client has a loan scenario that is ready for a lender to review, you know that time is of the essence, and you have to move quickly. This is why it is extremely important to present the lender with all the loan information upfront so they can quote accurate leverage and rates, as well as help you move forward in acquiring the property quickly.

Here are some helpful tips on how to submit a full loan package:

1. Have a Full Understanding of the Loan Scenario

Often, we see brokers reach out to a lender about a specific loan request, without having a complete understanding of the loan scenario. It’s crucial, let me say that one more time for the people in the back, IT’S CRUCIAL, for the brokers to have a clear and complete understanding of the loan scenario. This includes, how much the borrower is looking to request, the borrower’s contribution or down payment, what the funds from the lender will be used towards, the subject property’s value, the borrower’s estimated credit score, if they have any prior real estate investing experience and the borrowers exit strategy, to be able to accurately represent the loan to potential lenders.

Accurately presenting the scenario to lenders’ and being able to answer preliminary questions will help speed up the lenders ability to determine if they can provide funding on the deal and the will be able to issue terms, and commitment letters faster.

Once you connect with a lender that is ready to move forward with funding the loan scenario, be sure to get their specific set of required documentation needed to continue with the loan process. This way both you and the lender can be working on the deal at the same time, speeding the entire process up tenfold.

2. Get the Good, the Bad, and the Ugly

Loan scenarios, investment properties, and borrowers in our industry aren’t always perfect, which typically is the main reason the investor is seeking funds from a private lender instead of a bank loan.

As the broker, it is important to get an understanding of any adverse aspects of the loan scenario and still present those to the lender. Lenders want to know upfront about any aspects of the deal that may hold up the process because often they can draft exceptions, but these exceptions take time. Don’t wait for when the scenario is in a later stage and then have a bad appraisal or background check ruin the deal. If the lender is already aware of some of the problematic aspects they can either advise to not move forward and waste both your time and the investors, but they also may be able to get an exception which will typically affect the leverage they can provide.

3. Keep Loan Info/Documents Organized

It is key as the broker to keep your loan files organized. Keeping borrower information, loan details, property information, and all the documents in one location is a great way to stay organized and be able to quickly retrieve information for the lender.

Bridge Loan Network is here to help simplify the lending process and provide you and your lender with an easy place to collect loan documents and borrower information.

Some helpful tips when using our software:

•   Make sure loan documents are saved with a clear and concise title. This makes it easier for you and your lender to find documents.
•   Let your lender know when you’ve uploaded documents, and make sure you once again have the full list of documents they will need to help speed up the process.

Bridge Loan Network has developed our Referral Program to serve as a centralized location for loan officers, mortgage brokers, real estate agents, contractors, REO agents, and other members of the real estate industry to find financing for their clients.

Plus, the program is super simple, and you can earn a referral fee for any loans that close. Simply contact our team at Bridge Loan Network to have a personalized loan application link set up and then share that resource with your customers.

Once you have your application link here are five ideas on how to market your link to your customer base and beyond.

1.  Add Application Link in Email Signature

One of the easiest ways to have your application link reach your clients is by simply adding your application link into your email signature with your contact information. Just make sure to highlight what the link is for, for example, “Looking for financing for investment properties? Apply Now”.

2.  Write a Blog Post

If you or your company has a blog page on your website, consider writing a quick blog post about private lending and investment properties, and include your loan application link. If you need inspiration for a post, checkout our Company News page.

3.  Embed Application into Your Website

Consider adding a blurb or button onto your website that directs clients to your link. Include information about the link like, “Finance Your Next Investment Property with the Top-Rated Private Lenders. Apply Now.”

4.  Post on Social Media

Experts in our space are always sharing and re-sharing information about the real estate investing space. Share your experience and include your application link and add the link in the about section on your social media pages.

5.  Add to Newsletter

Add this new resource, offering private lending options to your customers, to a newsletter email campaign. Highlight that this is a new feature to better help your customers.

Once your customers complete your application link you can be as involved or hands off as you’d like with the loan scenario, and once the loan closes you will receive a compensation for referring the deal.

Remember as long as you use your personalized application link, anyone that comes to us through the link will be credited to you. Plus, all application and links will be branded to your company.

“Bridge Loan Network is a system we use everyday, in the industry that we are in it makes it easy for our clients, and employees to communicate, share documents, and make the process enjoyable for all when getting a loan. The team at BLN is very helpful and always on top of anything you need. In a matter of minutes any issue that you are having or any change that you request is done. It is truly a great program with top notch customer service.”

– Brass Financial Group

As the hustle and bustle of this busy stretch is finally starting to slow down allowing you to catch your breath, it’s a great time to take a moment and reflect on the year as a whole. This is also a great time to look forward and set new goals for the upcoming year. While folks typically set personal New Year’s Resolutions, it’s also important to set professional goals as well. Business goals are essential as they offer a sense of achievement and purpose and help outline the direction you are looking to take in the new year.

Consider these tips below on setting and achieving your business goals in 2020:

Define Specifics

One of the main aspects that can cause headaches with setting goals, is not making them specific and measurable. The best resolutions are quantifiable ones. For instance, if one of your goals it to close more loans this year, set a specific number of loans you’re looking to close. You can even take it a step further and define an amount you’d like to close month by month to achieve the year-end goal.

Make Them Achievable

When setting goals, it’s important to set ambitious goals, but not unachievable ones. Look back at the previous years to help determine a new goal. Use this data to set educated goals for this next year. Going back to the previous example of closing loans, determine the number of loans closed in 2019, and 2018, and look at the growth between those numbers. You can use that data to determine a new ambitious and achievable goal for 2020. You’ll want something you can work towards, but not something that seems so out of reach you lose motivation.

Evaluate Your Goals Monthly

If your goal is something that could take all 12 months to achieve, then break it down into smaller increments, so it doesn’t seem so unobtainable. Then each month check-in on the progress of your goals. Set monthly meetings focused on evaluating them. Are you on track to achieving your goals? Does something need to change, or a process updated to help you reach the goals? These strategizing meetings are important for achieving your goals and for the progress of your business.

Celebrate Achievements

Celebrate the large and small achievements you’ve accomplished towards your goals. Whether it is celebrating a monthly goal completed, or achieving the big year-end goal, it’s important to celebrate each step of the way. This is especially appreciated in bringing your whole team together to share in the successes. Including everyone helps keep the whole company motivated in reaching these goals.

Utilizing these tips above will not only help you set and reach your goals, but it will help you celebrate all the steps along the way. Always stay confident that your business goals are within reach and each step you take is a forward movement towards achieving those goals. Plus, we’re here at Bridge Loan Network to help you achieve your goals this year. We’ll help you organize your pipeline allowing you to connect with more clients and close more loans. Contact us today to learn how we can help you reach your goals in 2020.