Most real estate investors have heard that their success relies on both building a network of strategic partners and surrounding themselves with the right influencers. However, many still get this wrong…
As a real estate investor who you hang out with every day with make a huge impact on your success. You can laze around watching TV, relax with broke friends that make you feel comfortable but who have terrible money habits and won’t encourage you to reach your full potential or you can lunch, dine and network with those who can lead you to powerful connections, bring referrals and augment your real estate education.
Who are you hanging out with this week?
You should be regularly surrounding yourself with positive and powerful acquaintances. Have a lunch or dinner or two set up with local industry related pros and why not host a BBQ for prospects and potential investors on the weekend? Attending real estate investing networking groups and connecting with others to build your real estate education and database is smart too as is getting a mentor or investing in regular coaching.
However, not all mentors and contacts are always as beneficial as you may perceive, even if they appear to be wildly successful themselves. Ask yourself if they are really influencing you to make the right moves and employ an investment strategy and live a lifestyle which is conducive to long term real estate investing success. Or are they seducing you down a path to over-spending, splurging and leveraging toys with bad debt instead of or worse taking short cuts which could wreck your reputation and sabotage your investments, financial solvency and perhaps freedom down the road?
Align yourself with those who are doing things right, who plan to be around for the long term and who have devoted their efforts to creating systems and building businesses that are solid. This is the type of coach you want to replicate and the type of referral partners who will be there to keep feeding you deals in 5 years from now, not fighting over your commissary in the local jail after things fall apart.