Having a special talent, High IQ and an inbuilt can-do attitude are always the prime ingredients to be successful but only to an extent. If you are in the market plying your trade alone and you are pitted against various formidable teams of equally intelligent and driven professionals, then you simply do not stand a chance. You have only two options left then either join one of those groups or create a team of passionate and talented individuals who share same goals as you do.
In case of Multi Family investing, a team built up of people having diverse talents brings very specialized skills on board and there is a greater chance of success coming your way.
But to build such a dream team, you need to be aware of what it takes? How to be a good judge of people? What are the essential characteristics to look? How to match those traits for specific positions in your team?
I am sure you will be faced with lots of Hows to start with.
A good idea is to first think and formulate your goals regarding Multi Family investing. These goals will not only serve as beacon for you but also give potential team members a clarity on where they are headed and whether they like it where they are going.
It is especially important to have team members who share your goal and vision, otherwise the harmony and shared enthusiasm would go missing in the long term among team members, leading to premature failure of the multifamily investing business.
Though it is highly advisable to hire people who agree with our goals and aspirations but never employ people who share the same personality traits as us. The more diverse your team is, the better balance it creates. If all your team members are of calm disposition, then there would be no body who would strive against time to get the crucial tasks done. If all the team members are extremely deadline driven, then it would lead to too much stress and infighting among the team members.
People with different attitudes actually complement each other and they must be used for the specific positions based on their personality traits.
As John Donne famously and rightly said that “no man is an island”, so let’s bring together a super team and rise to the very pinnacle of success in the multifamily investing game.
