Find a Partner, Mentor, Someone
If I have learned one thing so far building this real estate business is this, "if you want to go fast, go alone. If you want to go far, go together" (African Proverb) It is absolutely critical to get out and meet people that are like minded in real estate investing. Finding people that are doing what you want to do, being who you want to be helps provide motivation to continue. I think it is important to not necessarily be looking for a partner as in shopping around. Partners end up working out on their own. Take my opportunity for example, the 23 unit complex we purchased in September the seller is sort of a mentor and partner in my next deal. Throughout the purchasing of the property we sat down with Jim many times to talk through the numbers and became friends. Jim has been in real estate most of his 60 years do he knows a thing or two about running real estate businesses. I took it upon myself to cultivate that relationship and build on it through a time when it was not easy to be friendly as we worked through the underwriting but we did it. I compare it to my marriage a little, if you put stress on a relationship and it lasts you will be stronger for it. Currently Jim and I are looking at partnering on the next syndication that makes it's way across our desks. In the meantime we stay in touch with one another, partnerships are work you have to work on things that are worth working on.
I listen to a number of podcasts and audible books on my one hour drive to and from work everyday. I used to listen to satellite radio and jam out but I was really wasting my time, critical time when I should be getting my mind right for the day. I found my mentor on a podcast interview, Mark Kenney of Think Multifamily as he was being interviewed by Rod Khleif. Since meeting Mark and Tamiel I have begun my journey of syndication through multifamily properties. Why did I pick them, other than being originally from Michigan and Mark going to Michigan State they are family oriented people that genuinely care about your success. I have met some incredible people so far being in the program only two and half months.
Lesson is to find people you want to emulate. Learn from them, try to add value where you can. Maybe if you are tech savvy and they aren't help them create a Facebook business page or promote their website on social media. It is difficult when you are new to feel like you can't add value to something you know nothing about at first I know I was there. Find something your partner or mentor is having trouble with and help them with it, if you don't know what to do Google is your friend.