Which investors are the most successful?

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Which investors are the most successful?

Tuesday, June 23

Most investors go to networking events, real estate clubs and seminars. I’m sure you have stumbled across some very successful investors at these events. You may even be able to point out a handful of extremely successful ones. Just think about how hard and how long these investors have worked. Wouldn’t it be great to know what they know? What is it that makes these investors so successful?

There are two things most extremely successful investors have in common. They work no where near as hard as most investors and a fraction of the time. Why? Because these investors are running a business, not working in a business. They have delegated the daily processes, even delegated the management. They have completely separated themselves from the grind from daily processes and they can spend months at a time on extravagant international vacation while their business runs on its own. They are entrepreneurs.

Most people are technicians and handle all of the daily processes themselves. They are do-it-yourselfers and can’t fathom the idea of delegating tasks. There is only so much time and they can only do so many deals which constrains profits. Conversely, entrepreneurs unleash their team and focus on high level decisions, growing the business and ideas to improve the business. Meanwhile the managers run the business and the technicians handle the daily processes. Sure they may only make 80% of the profit as a do-it-yourselfer. But they can do 5 time, 10 times, even 20+ times more deals. They are not restricted, they delegate, build effective systems and teams. If you want to become extremely successful, become an entrepreneur. The most influential book I have read is EMyth Revisited by Michael Gerber. I strongly suggest you read this book, it may completely change your approach to your real estate business.

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Comments

Aaron Williams Reply
over 2 years ago

Your right... any big business has systems in place and the guy at the top is making high level decisions that ultimately give him his life back and freedom to do what he or she wants. I think people just get caught up into thinking about how much money their saving and forget the big picture...
Marco Santarelli Reply
over 2 years ago

The E-Myth is a fantastic book, and a must read for any entrepreneur or self employed professional.

A final note: most technical/analytical types seem to get bogged down in the details and donâ€™t take action to close deals. At some point you need to â€œpull the triggerâ€ and invest.

Continued success!

Marco Santarelli -- Norada Real Estate Investments
Steven Trankler Reply
over 2 years ago

How do you seperate the fakers from the real deal? I want to learn from and associate with the people turning in the 6 figure + income stream.

Any tips for finding the good mentors?
Marco Santarelli Reply
over 2 years ago

The most basic tip is to look at what the "DO" not just what the "SAY". This will tell you whether they are talking from experience or not.

Continued success,

<b>Marco Santarelli</b>
Jon Klaus Reply
over 2 years ago

Some very successful people do work very hard and long even if they have the option to take much time off. They do have the choice and some choose to work more at what they find great satisfaction in. I'm just starting in REI and working more than ever and having a great time. My wife isn't too thrilled, but I hope to have the disclpine to seek balance once this new endeavor reaches critical mass.
Jon Klaus Reply
over 2 years ago

Oh, and I have learned the lesson of the E Myth. I have a company with 15 employees that I currently work about 10 hours per week.
Ryan Moeller Reply
over 2 years ago

Hey guys, thanks for the comments. EMyth was a real eye opener. Creating systems and seperating yourself from the daily processes is the way to go. It imazes me how different most people think, as a technician and do it yourselfer.

Steven, Marco is right. Find the people that DO, not get you excited by showing you success stories from others or distant past then teach theory. You would be surprised how many investors are willing to help. We recently started providing free mentoring, nothing extravagant but we have helped some investors and it has been very rewarding. Best of luck guys!!
Eddie Ziv Reply
over 2 years ago

Words of gold!! The only defer I claim is that the amount of the investor's involvement depends on the scope of the business. If you own three SFRs the most you can do is hire a management company to run it. Obviously, if you own three 200 units apartment buildings, you probably want to create a subsidiary PM company to work exclusively on your properties. You must master the art of hiring people though...
Ryan Moeller Reply
over 2 years ago

Great point Eddie. I know some investors who have around 100 SFR or duplexes and are miserable trying to manage them. I think about 20 properties is enough to hold. As you grow, the number of units at each property should grow. Maybe you start with 20 SFR, then end up with 20 apartment or commercial properties. Hiring is definitely critical, if you do not have the right team and systems in place then you have no foundation to grow. Thanks for the comment Eddie!

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Which investors are the most successful?

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