You don’t need to belong to a national real estate investment club to be a real estate investment guru, unless you want to feel like that guy on the news; that guy who goes on and on about how real estate is great and real estate investors should get out and get in, while ignoring all the little harmed people who will listen.
You don’t need to belong to a club to have success in this business, but being a member of one can help you put together a business that can make all the difference between success and failure.
You can start by focusing on finding a club that has a lot of low cost information available so you can learn all about real estate legally and creatively, as well as networking opportunities to help you with your business. You can have twoPrimary Care physicians who are also investors in real estate who can learn together and swap tips, ideas, and repairs, relationships that can mean the difference between success and failure for investors.
You can have a lawyer who will help you make the best business transactions, and will also teach you about real estate, contracts, and many other important aspects of the business. A real estate attorney is often times the best thing to have on your side, because they understand real estate and what it takes for it to be a success, whereas a lawyer who just reads a standard prepared contract will likely not understand it, and will make a mistake that could cost you thousands of dollars.
You can have the most impressive realtor on your team, but unless he or she is professional there is no way you will be able to sell the most expensive properties. You will have to make investments in the properties, and your only hope is the realtor who is monitoring the multiple listing services to cover many units in hopes of getting your listing in the first weekend it goes on the market. Realtors don’t just sell real estate, they often provide all kinds of services, and you should get to know them before you have to spend their money.
You can have an architect who specializes in studio interior design who can help you with designing better properties, and rearranging the way an office or house is put together to increase the value you see for you client. I’ve seen some professional architects draw up designs for me that would be worth having a $100,000 office building built. Architects also design floor plans. You can have, for example, a CEO who comes with the same kind of knowledge and business savvy that an architect brings with success in creating profitable ways to deal with real estate, and you will need all those components in the real estate business. Successful investors always have someone on their team that deals with marketing so that they can have the lowest costs in the entire industry. It’s a fact.
You can have the most real estate marketing and selling people in the world, but without the proper training they will be selling you into a deal that was not profitable in the first place.
You can have very knowledgeable and very loved community partners, but without the time to work with them, communication is impossible and your real estate business will never know everything that’s possible in the real estate world.
And finally, you can have all the knowledge in the world, but no matter how good you are, if you fail in one component of your business it is worthless. This is why you cannot have all the knowledge in the world and expect your business to succeed.
The sky is the limit with real estate, but just remember that it’s the components that make up success that add most value to your life. So if you are ready to invest in all that is in front of you, have a plan in your mind for your real estate investing business, develop contacts in the industry, and find a way to get some help along the way, success can be yours if you explore all that is possible.