In this episode of Grab The Map Podcast, Johnoson talks about Partnering up in Real Estate Business. He discusses the most important factors to consider that will answer to leading questions of when the good time to partner up is, how to partner up, and who to partner up in real estate or in any type of businesses.
WHEN IS THE GOOD TIME TO PARTNER UP?
You should only partner up if the partnership allows you to do something that you are not able to do on your own. It is true that you can achieve anything, but you cannot achieve and do all of them at the same time. Partnering up allows you to accomplish something that you could not accomplish on your own.
Your involvement in a project that you cannot do on your own allows you to scale up and level up in a way that you would not be able to do otherwise. Maybe you don't have the experience that somebody else has like growing a business, managing people, and education. But you have the money or time. Partner up if you have something that you bring to the table that only you can bring to the table, or that that makes you that resource that somebody else doesn't have.
You partner up when your experience or your time or your money meets the need of a partner that also brings something to the table. One of the people brings the money to the partnership and the other person brings the property management expertise to the partnership. That is the type of partnership that you should be looking for.
If you have a proven track record of success with those things, you're ready to partner up. Before that you are not ready to partner up. If your mindset is still limited, if you are life or income stream is not stable, YOU ARE NOT READY TO PARTNER UP.
HOW DO I PARTNER UP?
When you partner, you need to make sure that both parties feel like what they bring to the table is being equally valued. Partner in a way where everybody feels like what they bring to the table is valued.
Partner up in ways that are mutual beneficial. Partner up in ways that allow both people to win. You partner in ways that both people are accountable for holding up their end of the partnership.
WHO DO I PARTNER UP WITH?
Choosing who to partner is very crucial. You really to start identifying people that would bring extreme value to your business, and partnerships that would allow you and your partner to grow in successful ways.
Few rules to consider:
People who have demonstrated a track record of success. Look at the commitments that the person has made in the past. Look at the jobs that the person has held. Search up where they live, and how long they've lived in that location. Ask around about that person.
Partner with people who have a similar ideological belief about life and money, as you do. We should all have a synergy when we partner that allows us to work together
If you are looking to grow in the real business and you believe you have something valuable to the table, get in touch with Johnoson at [email protected]. You can also visit his website to learn more about him and his services at http://grabthemapllc.com/.