Real Estate is a team sport

Are big investor out looking for deals, or working on deals that they already have? Definately the latter, they have people who find deals for them so they can do what they do best close the deal and make money. They will surround themselves with people that help them with the experience and expertice they lack. No one can be a expert at everything, do what you do best and associate with others that differ in expertice and you will be well on your away to having a powerful real estate team.

I agree with you both - it IS a team sport and one of the first things Dean teaches us is that you must build a solid team. I feel that I have done that but recently I starting passing my knowledge and skills on to others. I also recently posted on this same subject.

http://www.deangraziosi.com/node/8715

I think that like you said, no one is an expert in everything but together with others of like kind, you can find you have a much richer atmosphere to develop and prosper in.

Like Robert Kiyosaki says in his Rich Dad Poor Dad book, is rich dad said, "An intelligent person hires people that are more intellgent than they are". Roberts rich dad also said, "Hire slow but Fire fast". A loyal and good teammate looks to put food on both your table and his, not just on his own table.

Wayne

This is a must! You need to be a team player, play fair and nicely with others... LOL! Well, you get the point.

T.E.A.M. Together Everyone Achieves More, cooperation trumps competition everytime.

Start a personal address book for all your real estate contacts and I do mean all of them, including your tenants. The following is a run-down of specialties in order, as you may need them.

Fill in the blanks. You need these people:

What they do Who they are Phone #’s

Attorney

Commercial Banker

Mortgage Broker

Home Inspector

Appraiser

Title Company

Surveyor

Insurance Agent

Pest Control Company

Real Estate Agent

Rental Manager

Home Warranty Co.

Moving Company

Home Security Co.

Electrician

Plumber

Heating & Cooling

Roofing Co.

Skilled Carpenter

Flooring Co. & Installer

Painter

Appliance Repair

Landscape Maintenance Co.

Cleaning Service

Tax Planning (CPA)

Tenants

Hint: Get private numbers and promise not to give them out! This will save time.

All of the above people can be any of these: Information resources, bounty hunters, assistants, educators, specialists, net workers, referrals, facilitators, strategists, tacticians, problem solvers, buyers, sellers, partners, friends, tenants.

I agree that a list of human resources as mentioned in preceding posts are important for successful real estate investing. Based on numerous posts on this site, another sort of team is not always present, and that is a team made up of both spouses.

It is easy to see why one member of this ultimate team may hesitate to be an active participant. There are a lot of stories out there, many true, where people got taken on some deal, either due to insufficient information, carelessness, or maybe plain old greed. The result can be mistrust about real estate investing, because there is so much that is not generally understood, and it is human nature to be wary of the unknown. Anyone can be successful, but you have to learn a lot and work hard at it.

The participants on this site who need to pursue REI without the support of their partner are to be commended for their determination and faith. The success stories we read here help with the faith part, but as small successes are achieved, even if it's only some bird dog fees, the other partner will probably start to trade in the skepticism for support. Then you can start performing as a real team and your successful deals will be more fun and rewarding.

cactusbob

Hey what do you think of the team I put together here: http://www.bearealestateheavyweight.com/Heavy_Weight_Authors_Table_of_Co...