Tag Archives: mentor

It’s Dangerous to Go Alone! Why Relationships are the Key to Success

key to success
Image courtesy of nongpimmy. Freedigitalphotos.net

Read time: 2 minutes

I wanted to stress the importance of relationships and having a “team” when it comes to success in any field. Working in real estate, I have connections with bankers, title companies, appraisers, inspectors, other realtors, investors, landlords, construction workers, electricians, HVAC guys, and more. Still looking for a god damn reliable and reasonably priced plumber in this town though! Without these people, it would be very difficult to achieve success in this field alone; the same goes for other fields as well.

One big issue when it comes to real estate is CASH CASH CASH. I have several people I could turn to right now who have 6 figures they’d be willing to invest/partner in the right deal. I also have a reliable banker where I get my loans. So far, I am still a “small-timer” dealing with houses with purchase prices less than 50k. I am eventually looking to move up to bigger deals and commercial real estate as my portfolio grows. Without capital to fund my deals, I wouldn’t have most of the houses I have.

Another person who has been a huge impact in my life is my mentor. He is actually an old Boy Scout leader of mine, and we reconnected after I “stole” a house from him we both made offers on. This man literally saved me from making a $70,000 mistake. I owe him a lot and he keeps me grounded from making rash decisions. I was even moved up to “partner” after going in on a deal with him recently.

Do you have a mentor or someone you can go to for advice? Do you have a “team” of people helping you to achieve success in your field? While you can grind your way to the “top”, it is much, much easier to have a support system and connections in your journey to success.

TAN: There are many ways to connect with people who can help you achieve success.

  • One of the best ways is to take successful people out to lunch. While Ramit talks in regard to entrepreneurship, the same could apply to successful people in your field or higher ups. If you are a SUPER CHEAPSKATE like me, just take them out to coffee and pick their brains. Definitely be prepared with relevant, insightful questions and don’t waste their time and DON’T ARGUE WITH ANYTHING THEY SAY, EVEN IF YOU DISAGREE.
  • I have a good friend who is working for FREE for a very successful entrepreneur and gaining INVALUABLE information and skills that I know will make him successful. Look for ways you can “intern”, moonlight, apprentice, or even volunteer to achieve valuable skills and connections in relevant fields.
  • Check out www.meetup.com for relevant interest or networking groups. Similarly, you could become active in your local chamber of commerce and network, although I haven’t had much luck personally.