What do baseball, football, soccer, lacrosse, water polo, rugby, and real estate all have in common? That’s right, they’re all team sports. In team sports, there are two elements that need to be addressed for quality play: individual skill, and communication. Each person on the team needs to know what they’re supposed to be doing to help the team! The bigger the team is the less individual skill matters and the more team communication matters. Sure, tennis can be a team sport, but match a pro against two newbies and the pro will still probably win. Match alone NFL player against any full varsity high-school team and he’ll lose. Now consider this list of the different professions that are likely to be involved on just the operator’s side of a buy-fix-rent-sell real estate deal:
Rugby, for example, has “only” fifteen players on a team. Real estate investing, by contrast, is a team sport that makes most of the others look positively anti-social. At this level of team activity, it doesn’t really even matter if you have good players anymore, they just need to understand what their job is, how to do it, and be reasonably honest.
It’s actually my favorite thing about real estate. I don’t care much for buildings, they fall apart. The land would be okay, but I can’t stand surveys. People though? I love people. Real estate is the right place to be if you want to deal with people. If you can communicate effectively with all of those people you can easily improve the team’s overall performance enough to pay yourself and when you’re done at the end of the day, you may find you have a few new friends as well 🙂