Organization and Working as a Team
When I first got into real estate investing, I didn’t fully understand what I was getting into. I knew it was a great way to build wealth, but I didn’t realize just how much work and strategy went into it. Over the last few years, I’ve learned a lot and I’ve come to understand that staying organized, working with a strong team, and being willing to learn are the things that have helped me grow as an investor.
1. The Importance of Staying Organized
When I started investing in real estate and with CMI, I quickly realized that there’s a lot to do and a lot to keep track of. There are deals to close, properties to manage, contractors to hire, and work that can pile up fast. Early on, I learned from others amongst my team that without a solid system for staying organized, things can slip through the cracks. Missing a deadline, losing track of an important document, or failing to follow up on a deal can cost you big time.
For me, staying organized meant setting up systems that made sense for my workflow. I use spreadsheets to track bank accounts, rents, expenses, and our investor relationships. We have implemented systems that enable us as a team to efficiently organize all relevant documents, invoices, and more so they can be easily located at a later time.
Staying organized also helps me stay focused on my own personal tasks within CMI. Without organization, it’s easy to get overwhelmed and lose sight of what is going on in the short term, but the systems in place to remain structured has allowed me to be as effective as possible.
2. Working with a Team
One of the biggest lessons I’ve learned from working with CMI is the power that comes from working as a team. I had done just one project on my own and assisted with a few others prior to joining CMI, and realized that it is so much easier to surround yourselves with like minded people and work together at a common goal than it is on your own.
Having the right team means you don’t have to do everything on your own. I know my strengths, but I also know my weaknesses, and having those on my team that are able to work in the areas that I am not as strong in, enables me to bring as much value as I can by doing what I am good at.
Another big benefit of working with a team is the ability we have to scale as a business. Things become much more efficient by not becoming bogged down with work, and being able to delegate tasks out to others. With CMI and any team or business, growth is important, and to do it efficiently, I have found it to be much easier to do so as a team.
3. Continue to Learn
Real estate is always changing. Markets shift, new trends emerge, and there are always new strategies and approaches to learn about. When I first started, I had only used one strategy myself and learned about a few others, but it has become evident, especially in these changing times, that knowing of and implementing different strategies is very important to success.
It has been a great privilege to be a part of CMI and learn from my colleagues on the skills side of things too. There are many day-to-day activities or habits that others may do that I can look to implement into my own practices and develop myself. I have always stood by the fact that it is impossible to know everything, and that being open to learn and try new things is the greatest way to improve yourself.
