287 – You Should Partner on Your First Deal

I find this time of the year very exciting. It feels like a fresh start and a chance to regroup and set new goals. That’s true in life and in business. Setting goals is important, and I think it’s important to feel like you can meet or even exceed your goals. A goal to me feels like a finish line, so it doesn’t allow me to go further.  So this year, I’ll be setting my 2015 minimums. This way, I’m setting them as the least amount I will accept for myself this year, but I want to go beyond that. I’ll let you know how that goes!

Today I want to give you some advice on how to do your first deal. Once you’ve made it through the fear we discussed yesterday, you should partner on your first deal with someone more experienced than yourself. Find someone in your area who is successfully doing the type of real estate you want to be doing, and see if you can partner with them or shadow them on their next deal. Find a way to add value for them (for example: find the deal, find some funding). Don’t think that you’re making a mistake if you give away some of the profit on your first deal–you’re not. You just need to learn, and you can’t beat free education! You’ll never learn more than when you’re doing your first deal, and you’ll never have a higher success rate doing your first deal than when you do it with someone successful.

About the author, Mike

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