What is the Biggest Part of Succes
Getting started in real estate isn’t easy. Becoming successful is even harder.
You’re here because you just recently got into real estate investing and you’re looking for the key to success in this field.
Maybe you haven’t quit your 9 to 5 job yet, but you’re well on your way and wondering what the next steps are.
Luckily for you, others have been down the same path you’re on. And just like you will, some discovered the biggest part of success. One such person is Eric Chadderdon.
Before he started investing in real estate, Eric was in the sales industry for 12 years. He dabbled in real estate but after a while, he found that he had lost his spark for what he did.
And after he received the acquisition fee of $100K from his first deal, he quit his job and rediscovered his spark – not for sales – but for multifamily real estate.
During Eric’s journey, he uncovered for himself the key to success in real estate investing. In this article, I will share with you those keys:
Communication and Relationships
The first of these is being able to communicate really well with a variety of different people from different walks of life.
Relationships are the backbone of multifamily. So focus on forming good relationships and surround yourself with high quality people.
Don’t be Scared of Rejection
Being told “No” is inevitable anywhere you go. Entrepreneurship is no exception.
Having a good, strong mindset and being able to take rejection and keep pushing is VITAL if you’re going to succeed. Maybe you’re not quite there yet – that’s okay.
Thankfully, it’s a team sport, so you have sponsors and different people you can lean on to get things done.
Add Value Wherever You Can
Eric tried to add value wherever he went. Even if it was just for the experience.
It’s hard to provide value when you’re new to the space. But if you keep putting yourself out there and trying, people will start to take notice and let you know if they need anything.
Take Eric’s story for example:
He joined a mastermind group when he first started out and volunteered to go help and observe the due diligence process. Being new to everything, he tried to help out as much as he could.
And by doing what he could with what he had, he made good relationships with the operators at that property. Because of that, they brought him in for the capital raising of that deal.
He offered all his services for free. It didn’t matter what the activity was. He wanted exposure
That is the key.
Because if you give and give and give, even though you have little experience, eventually someone will take notice and ask you to help them out.
Not enough people think like that.
They just try to figure out a skill and start doing it over and over again. That’s what people get too hung up on.
They’re think, “I have to be just the deal finder” or “just the capital raiser”.
The reality is there are so many different ways you can add value to a syndication or a partnership.
And the best way to figure out the best way for you to add value is to go and try to find it. Even if it’s just helping out with something like due diligence.
People try to limit themselves too much when it comes to this. The more skills you can pick up along the way, the more valuable you’re going to be to anywhere you are.
Your goal should be to get to a place in your career where there’s not a lot of parts of the business that you can’t do.
It’s alright if you like some parts more than others. You can have specialites or places where you feel you can add the most value.
The purpose of this is not just getting better at something you’re not good at.
If you don’t like accounting, hire a consultant to teach you accounting because you might need to have it in your arsenal.
Or maybe it’s not accounting for you, but it’s something else. The best way to get dangerous is to hire a coach. Or find a mentor.
It’s huge to be more than a triple threat person. If you have the opportunity to jump into some sort of coaching or mentoring program, I’d 100% recommend it.
That jump started so many people’s trajectory, including Eric’s, in the multi-family space.
And remember the key:
Just offer help wherever someone needs.. Even if you don’t know what you’re doing and trying to figure it out — just immerse yourself in it.
If you’d really like to become more than a triple threat person and be dangerous, I have just the thing for you.
It’s a mentoring program with devoted, full-time syndicators who are committed to helping you achieve your financial goals.
It all starts with a phone call. If it sounds right to you, you can sign up for the program.
All I’m asking you to do is make a phone call and invest in yourself.
Check out our mentoring program.
Thanks for reading through this, looking forward to talking to you.