Is it too much of a romantic idea that your significant other should be your best friend? Confidant? Business partner? Part of your support system?
Too often we focus only on the real estate strategies and systems we use and implement on a daily basis to grow our real estate investing businesses. While this is critically important to your success, you may be neglecting to care for your proverbial “Goose that lays the golden eggs” – your mental health, happiness, and self-esteem.
Associating with a close group of positive and like-minded go-getters can be a great way to add value to your daily life. We only have a limited number of hours in everyday; aim to invest your time and brain power toward positive self-growth and business growth. Perhaps the ones we most care about, our husband or wife, have the biggest impact on our lives and daily motivation.
Pro Tip: Find local Real Estate Investors groups to befriend. Ask around about starting weekly accountability calls.
See the list below of areas in your investing business where having a supportive partner can be ideal.
1. Brainstorming: Ideas need a place to grow. Having a like-minded significant other to share in your excitement and business development may be crucial to your business success as well as your relationships success moving forward. Starting any new business or investing niche can be both frightening and exciting beyond belief. Having a best friend and trusted business partner may be a great idea to keep yourself surrounded by like minds when at home.
Pro Tip: Aim to brainstorm and list 5-10 new ideas most days of the week. Brainstorming new ideas while working out or walking with your partner can be a great daily addition to your workout routine. The main benefit is to keep your creative brain-muscles working and stretching. These brainstorming sessions may eventually lead to implementing new ideas or a complete new profitable business.
2. Education: Real estate investing will require you to know about real estate. Whether you have decades of investing experience or are just getting started this may require you to learn more, become licensed, investigate concepts, and stretch yourself beyond what you already have been doing on a daily basis. The couple the learns and grows together, often stays together.
Pro Tip: Whenever something real estate related is learned or discovered aim to share this information with your significant other the same day. If working with a mentor aim to brainstorm possible questions to get answered about any confusions you have pertaining to the topics learned. Your answers should lead to more questions.
3. Cheerleader: Real estate investing is not easy. Life is not easy. We often times need reassurance we are doing the right things, or sometimes we simply need the permission to think outside-the-box and try something new.
Pro Tip: Lead by example. Start encouraging your partner towards personal and/or business goals he/she has been putting off or feeling negative about. Look for every chance to add value and strength to your significant other's life.
4. Leverage: With a like-minded partner there is now 2 of you able to accomplish double the daily action. Decide early on the roles of each partner. Keep in mind advertising and marketing for sellers can be a two person job.
Disclaimer: This article discusses why investing with a significant other may be helpful to your real estate investing business and to the health of your relationship. While the view expressed here is only one outlook, there are thousands of happy couples actively investing with only one partner performing active roles in the investing business. Even in these relationships it can be valuable for the active partner to feel supported, encouraged, and a Winner.
5. Memories: Life is a series of moments and memories. Looking back over the past decade I can remember spending many of my best times with close friends and loved ones that were helping with various real estate projects. My close friends regularly share hilarious stories and lessons learned from these past shared experiences.
If you are actively investing in real estate things tend to happen quickly. You will not be the same person mentally that you are today, as you will be in 6 months. In 6 months time you will be stretched, challenged, and experience much internal growth. These changes are normal as this business molds you. An investor will either learn and adapt, or fail. Through all these changes it may be imperative that both your significant other and yourself experience these high and lows together.
Anything we missed in the article above? Does having a significant other in the same business help or hurt your business? Comment below.