If you have been in real estate for even a short while, you have probably heard that one of the quickest ways to get listings or find buyers is to work your SOI (sphere of influence). To make sure we are on the same page here, let’s define SOI as any person who knows your name, has spoken with you before and definitely those people you’ve helped buy or sell a house previously (past clients). It doesn’t take a Nobel Prize-winning mathematician to figure out that people generally don’t buy and/or sell homes very often. At best, you are looking at a move every five to 10 years. The fact that people don’t move very often means your SOI is limited in potential. You can’t force people to move more often. Therefore, the amount of money you can make from your SOI by helping people buy or sell a personal home is limited, but that doesn’t mean you can’t leverage another aspect of real estate to increase the potential of your SOI. Enter: real estate investing, specifically single-fami…
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