Are You A Solo Real Estate Investor or Team Player?

A teamwork mentality separates the most successful investors from investors who struggle to do it on their own. Imagine that you are playing on a team when you invest in real estate. The people on your team will provide what you don't have, including special resources, knowledge, and relationships. What is the result? You will be more successful and make more money than you would on your own.

The advantage of playing on a team is that the whole team wins when one player makes a goal. Compare real estate investing to a team sport, such as soccer. In soccer, teamwork means that you pass off the ball if you are not in position to score the goal. When your teammate scores, you also win.

One of the enduring models of success is the model of the self-made man. (It's a model that is not usually applied to women.) In this model, success means that you did it on your own. The language of success for the self-made man is "the top dog wins." The image is that the self-made man climbs up to the top of the mountain, and proclaims: "I am the king of the world." This is the competitive model which is the opposite of a teamwork mentality.

The benefit of teamwork, in contrast to this self-made man model, is that the whole becomes more than the sum of its parts. The essence of Napoleon Hill's MasterMind concept is that you will achieve greater success by surrounding yourself with like-minded people, than you will by attempting to do it alone.

What difference does teamwork make in real estate investing? Consider the situation when you find a property you would like to buy, but you don't have enough money or credit to buy it. If you are limited to your own money and credit, you can't do the deal.

In such a situation, an investor who is part of a team will say: With an investor teamwork mindset, you say: "I can't afford to buy this property, but I know people who do have the money to buy it."

One way to make money when you can't afford to buy properties is to be a "bird dog." A bird dog finds good deals and then points them out to investors who can buy them. Instead of making money by buying properties, the bird dog makes money by finding them.

You can also make money as the deal maker. You can be the person who puts together the seller and the person with the money and arranges the deal.

What if you do have money and credit to be able to buy property? In this case, you can benefit from bird dogs and deal makers who bring deals to you. You become the investor who buys the property.

A soccer team needs different players. My point is that real estate investing is the same. It needs different players, playing different roles. Your role can change. You can player different positions on a soccer team. You might play defense. You might play offensive. You might play in the goal. You might be the one who takes the shots. You might be the one who passes the ball.

If you understand that you're part of a network of investors, and that somebody has the money and can make it work, then it's not all up to you. You're not clawing your way up to the top of the mountain.

The real estate investor world is filled with people who have money, credit, and specialized knowledge. The more you treat real estate investing as a team sport, the more successful you will become.

Article Source: http://www.myaddirectory.com

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