First Rental Property

Just because someone talks the talk, doesn’t mean that they walk the walk. 

Many new real estate investors believe that in order to be successful, they have to ride on the coat tails of other real estate investors that are more successful than they are. This is an absolutely true statement.  In order to become a better real estate investor, you need to learn from those that are better than you.

However, you have to be very careful about this.

Just because someone has more experience than you with real estate investing, doesn’t necessarily mean that they are the best person that you should be dealing with or learning from.

How do I know this?

• Over my real estate investing career, I have tried to learn from more experienced real estate investors that were not interested in teaching me.
• In the past, I have been associated with real estate investors, who had become a part of my real estate investing team, that did not have my best interest at heart.
• I have had to deal with real estate professionals that have lied to me, in order to cover up mistakes on their part.
• I have dealt with real estate professionals and investors that just wanted to take from me, and had nothing to offer in return.
• I have been associated with negative real estate investors and professionals who brought my spirits down, simply because I was associated with them.  Their negativity wore off on me.

Your  Real Estate Team will consist of very important people such as your real estate accountant, real estate lawyer, Realtor, and property manager and mortgage broker just to name some. 

Further, your real estate team can also consist of other real estate investors.  These people serve as a great resource for you, as you can often go to them and ask them for advice on how to deal with real estate related problems.  One of my real estate investing buddies is Todor Yordanov of Proactive Investments.  We often bounce ideas off one another, which really helps both of us to learn.  He is a stand up guy.  He and I share similar values, and I am happy to have him on my team. 

As a new real estate investor, it is imperative that you only deal with real estate investors or real estate professionals that share the same values that you do.

The statement that I just made is so important, and I believe in it so much, that I am going to repeat it again…

As a new real estate investor, it is imperative that you only deal with real estate investors or real estate professionals that share the same values that you do.

If you are a respectful, loyal and honest person, it is important that all the real estate professionals and real estate investors that you deal with and surround yourself with share these same values.

It is a tremendously uncomfortable feeling when you have a real estate team member that does not share the same values that you do.  This creates a lot of tension, and it is a recipe for disaster in the long term.  It is a recipe for disaster because issues will arise that the 2 of you do not see eye to eye on.  If they have a completely different approach and are perhaps dishonest with how they deal with things, it is going to get on your nerves!  Ask me how I know this?

Further, I strongly believe that you should never have real estate professionals on your team that lie to you.  If honesty is a value that you hold high, why would you want to have a team member that is always lying to you?

It just doesn’t make sense.  Not only does it not make sense, it is also extremely frustrating as I mentioned above.  It personally drives me nuts!

New real estate investors or experienced real estate investors should never let their real estate team hold them down. 

Get rid of people that do not share the same set of values that you do.

Life will become a lot easier….

Real estate investing will become a lot easier, once you only surround yourself by team members that share the same values that you do.

Best Regards,

Neil Uttamsingh

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