I want to share with you the most imporant lesson, one that caused me to rethink my approach to real estate and wealth building altogether.
Next Level Investing Involves Teamwork
To get to the next level, in addition to creating systems, planning for scale and working through the discomfort, I learned that I must stop thinking and behaving as if real estate is an individual sport, like golf or tennis. When one scales and begins to take big strides in the business, real estate becomes a team sport, like basketball or football. Similar to the financial power of leverage, the human resource power of leverage allows for synergies to be created from complementary skillsets, diverse backgrounds and experiences and collaboration of various personalities.
The Hurdle to Scale
I learned this lesson very quickly after getting to two single-family rentals. Getting my first rental was a thrill, and going to two caused me to take this business seriously. But the prospect of buying a third, fourth and fifth as an individual using my own resources caused me to rethink how I would scale to the vision of multiple apartments.
I realized to get to 40 single families could take a lifetime, but to get a 40-unit apartment could take just a few years with a team. So I decided to abandon the individual sport that so many play and build a team of partners to acquire multi-family assets.
Learn from The Greatest
America was built on teamwork and we are blessed with the privilege to come together and build great companies, organizations and portfolios of assets that change the world. The greatest companies, Google, Amazon, Tesla, Berkshire Hathaway, were built on teamwork and are syndicates, pooling funds from investors to make a big vision happen.
Both active and passive investors do much better when they work as a team towards a bigger vision. Of course, there is a trade off: you have to get out there and meet people and form solid business relationships. But I would say that it is well worth it in order to achieve the largeness of making a larger difference and scaling your passive income and wealth to a greater degree.
Wouldn’t you say?
Passive Investor Startup Guide
To find out more about what it looks like to invest as a passive investor in multi-family real estate, download our free Passive Investor Startup Guide here!
Popular Passive Investor Articles
– Mindset: Freedom through passive investing
– What is multi-family syndication?
– Do I have to be accredited to invest in a syndication?
– How passive investors can find great sponsors
– What to look for in potential syndicators
– About Robinson Capital
If you invest in stocks or other assets are seek to diversify your portfolio, achieve higher returns or get educated on the power of real estate, subscribe to my articles for automatic updates on new weekly content. Also, sign up for our newsletter for regular updates on our business and to learn how you can passively invest and grow your wealth through real estate.
Rodney Robinson II