If you have ever played sports, if you have ever coached sports or are an avid sports fan; you understand how important the team really is.
Running an AdvoCare business for almost a year and a half, I have seen many people succeed, but also a few fail. Both are often correlated to how often, and how effectively they decide to use the team which got them involved.
I have used, do use and will continue to use my entire AdvoCare team to build my business to greater and greater heights, helping more and more people.
On August 30th we are closing on a four-unit rental property – in large part because of our team. We are the Founders of our own app, in development, SkeePet; and Co-Founders, with a group out of Silicon Valley, of Vet24seven, which will be featured on Indiegogo in mid-September.
I can’t stress enough, in those three cases, we have a GREAT team around us.
I will use our real estate project for an example.
The core team members of projects such as these consist of a realtor, an inspector, a contractor, a private lender, a quality attorney, and an insurance agent.
To start with, the four-unit we are closing on was purchased for $197,000 and it’s appraisal came in for more than $225,000. That is essentially $28,000 put into our back pocket.
Yes, this is due to our persistence, but mainly because our realtor did a fantastic job. We are picky when it comes to investments like this. She’ll admit, we make her work for her commission since we look for undervalued properties to garnish a higher return. In 2010 we bought a commercial property, 35 cents on the dollar, through her. From that point, until now, we must have gone through 100+ properties to find the right one. The property fell into our lap because our realtor knew the woman (another realtor) who was selling. We were the only ones to look at the property, no one else even knew it was for sale! Our relationship with our realtor, teammate number 1, paid huge dividends…for a second time.
Once we found this four-unit we knew it had some pretty minor fix ups to be done. But to find things we might have overlooked we had our inspector check it out. He found three things that we would not have noticed. Thank you teammate number 2.
To complete the fix ups, correctly, we got our contractor involved – who previously built one of our buildings. He took a look at the inspection report and gave us an estimate of what it would take for him to fix it up. We know he does quality work and that his estimates are dead on. Teammate number 3 will begin work four days after closing.
After talking to many banks and being unsatisfied, we came across a private lender in Madison, WI. They, hands down, gave us the best terms: 30 year amortization, 7 years locked at 4.25% (awesome for investment property), and a 20% down payment. Teammate number 4 will probably get more investments from us in the future.
Our attorney. We have used him for nearly 10 years now. Real estate law is convoluted. This guy is experienced, high quality, tough nosed, and smarter than a whip when it comes to deals like this. Yes we pay a premium for him, a premium many would not be willing to pay, but it is important to get this part right. You do not want to overlook a document and be backed into a corner three, ten, or fifteen years from now. Teammate number 5 is definitely worth every penny we pay him today.
Last but not least our property insurance agent. He protects us incase something happens to our investment and we have to rebuild. But he also protects us in case a third-party member gets injured on our property. Without proper insurance, you could be left devastated. Thanks for protecting us teammate number 6.
All this being said…it is always about the team!
If you have a passion, a dream, a desire to live a different life than many around you – share your thoughts with others! Create a team. Surround yourself with team members you are confident in, who make you better, who can help change your life forever.
NEVER keep your passion, dreams, your personality wrapped up…LET THEM SHINE!