Tuesday, December 8, 2009
Don't Go It Alone!
Our next tip is NO man, or woman is an island. Don't try to go it alone!There are all kinds of professional organizations and groups that an investor can join to network, gain free and valuable advice from others who have been in the field, and educate herself without spending a cent on expensive seminars. The local REA group is a huge resource that should never be overlooked. Amazingly, investors and realtors are usually more than happy to share ideas. A good investor recognizes that there is more than enough business to go around. In fact the best investor recognizes that great deals are created, not just available. The wise investor will surround himself with talented and proven investors. He should seek information and guidance continually. And he should learn to listen and ask questions. The most successful investors are the ones who generate a lot of business, and do so with integrity. Associating with these types have a positive affect on one's reputation, and provide mutual accountability. Successful investors can be very encouraging, especially to the new people, just starting to get their feet wet. Listen to their advice regarding the traps to avoid, and the opportunities to seize. Attend REA group meetings at every opportunity, even if the topic under discussion is not one you would normally be interested in. NOt only will you be likely to make valuable contacts, but you may learn something completely unexpected that may be of value at an unexpected time. No one will be more involved in and knowledgeable about a local real estate community than the local REA. The expensive, albeit often good national seminars are not the place to find the pulse of a local community.So be involved in the local groups, and act like a sponge soaking in every drop of advice and wisdom you can. And remember to pay forward by doing the same for the new investors you meet when you are one of the millionaire success stories someday.