You Can't Always DIY Everything

[Doug Smith]

As I read post after post on BP with questions adkin to "I've decided to remove my own appendix, does anyone know where I need to make my first cut?", I felt compelled to say this. It's not always smart to DIY everything. 20 years ago I made the biggest mistake of my professional career. I was a successful bank executive and I decided to invest in a side business that was outside of my field of expertise. I decided I could save money and not use an attorney. Why not? I was a savvy business guy! The so-called parters ran up debt without my knowing, and, before you know it, I was on the hook for much, much more than I expected. Paying a few bucks to do it right would have saved me endless heartache. It's one thing to come on here and ask for simple advice or find partners to work with. It's complete lunacy to attempt, with no experience, some of the things people think they can do without professional help. To the newer investors out there, take it from an old pro...even the old pros ask for help and pay professionals to handle certain jobs. Paint a living room? Go for it. Rewire the house yourself? Pay the freakin' electrician. Oh...and another thing...realtors get a lot of hate and 95% deserve it, but if you are investing and get the right agent that really knows their stuff, they can be worth their weight in gold. Carry on. 

[Chris Seveney]

Quote from @Doug Smith:

As I read post after post on BP with questions adkin to "I've decided to remove my own appendix, does anyone know where I need to make my first cut?", I felt compelled to say this. It's not always smart to DIY everything. 20 years ago I made the biggest mistake of my professional career. I was a successful bank executive and I decided to invest in a side business that was outside of my field of expertise. I decided I could save money and not use an attorney. Why not? I was a savvy business guy! The so-called parters ran up debt without my knowing, and, before you know it, I was on the hook for much, much more than I expected. Paying a few bucks to do it right would have saved me endless heartache. It's one thing to come on here and ask for simple advice or find partners to work with. It's complete lunacy to attempt, with no experience, some of the things people think they can do without professional help. To the newer investors out there, take it from an old pro...even the old pros ask for help and pay professionals to handle certain jobs. Paint a living room? Go for it. Rewire the house yourself? Pay the freakin' electrician. Oh...and another thing...realtors get a lot of hate and 95% deserve it, but if you are investing and get the right agent that really knows their stuff, they can be worth their weight in gold. Carry on. 

 great example, I was trying to do everything while also working a full time job. Once I focused on what I was good at and built a team of others who have expertise in areas I was not an expert in my company grew by 25x and keeps growing.