What Does Your Wealth Team Look Like? Really
I am always amazed that people will spend more time picking their Dream Team for a sports pool than building a team to grow their wealth. I am not asking them to give up being a couch general manager; just put in the same amount of time building their Wealth Dream Team.
In my world, all aspects of the investment real estate business revolve around TEAM.
Where do you fall in this scenario?
Reading my blog posts, you are aware that I am a big fan of having investment real estate as part of your financial portfolio.
- To bring into a line or alignment.
- To bring into cooperation or agreement with a particular group, party, cause, etc. (He aligned himself with the liberals.)
- to join with others in a cause.
If you don’t have a team; I want to encourage you to start assembling a team. Don’t worry if you don’t have any investment real estate properties; this might be great news. Why? You may have a chance not to make my mistakes.
My first three investment properties; I used a residential realtor who sold people homes and had never sold a piece of investment real estate nor did she own any.
We just went to my regular bank for funding of; the same folks I had used to buy my home were the same people I used to purchase investment real estate.
Two essential team members and I did not take the time to ask them one simple and fundamental question.
The Holy Grail Question for Investment Real Estate Dream Team:
Do you own investment real estate?
The most important question I should have asked them; I did not even know the issue even existed.
The Holy Grail question before assembling a Dream Team was not in my repertoire.
Don’t let anyone on your team who is not an investment real estate investor.
If your team members not aligned with your cause of investment real estate and own investment real estate; don’t you think you will continuously be educating them on the processes and strategies behind investment real estate?
Why should the student be the teacher?
In the days, months and years ahead; it will be my pleasure to introduce you to TEAM REAL© and will explain the makeup of the team.
There are three stages of buying investment real estate:
- Before the purchase,
- The purchase
- After the purchase.
The team members who are on your team before the purchase may only be with you for that stage of buying investment real estate; some members of your group stay for one or two phases of the acquisition and others through all three stages.
In future blog posts I will get more specific on your team members; their roles and what stage of purchase they will be with you.
Are you ready to start building your TEAM REAL©?
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