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Tim Herriage, CEO, 2020 REI Group, headquartered in Dallas, TX, has been accepted into the Forbes Real Estate Council, an invitation-only community for executives in the real estate industry.

Tim joins other Forbes Real Estate Council members, who are hand-selected, to become part of a curated network of successful peers and get access to a variety of exclusive benefits and resources, including the opportunity to submit thought leadership articles and short tips on industry-related topics for publishing on Forbes.com.

Forbes Councils combines an innovative, high-touch approach to community management perfected by the team behind Young Entrepreneur Council (YEC) with the extensive resources and global reach of Forbes. As a result, Forbes Council Continue Reading…

I must give credit to John Maxwell for the subject line.  His book, Talent is Never Enough, came to my mind last night as I watched a “talented”, “athletic”, “superstar” Dallas Cowboys team deflate, and fall flat on their faces.  The talent on the Cowboys roster produces hope.  With every fumble, every interception, and every spectacular touchdown, Cowboys fans world wide clung to the hope that “America's Team” would find a way to pull through.

Inevitably, the talent, couldn't produce a win.  You see, football is a team sport in which 11 players must all hold up their end of the deal for the greater good.  It takes discipline and selflessness to make the talent achieve the goal.  You can liken it to the New York Yankees.  Their payroll (and history) is 400% greater than the Texas Rangers, yet, the Rangers beat them convincingly in a six game series.  The Rangers are a team with talent, but more importantly, a sense of team.

Real Estate investing is a lot like baseball.  If you have ever listened to me teach my Baseball for Real Estate concept, then you know why.  If not, allow me to explain.

I have never met a successful real estate investor that didn't have a team.  Not necessarily a full time staff, but more a collection of advisers and providers that were available to the investor when needed.  As with the Texas Rangers, the supporting team doesn't have to be the highest paid “players” available.  What you are looking for is a supporting cast that has the same goal as you, success.

Step one to this, is knowing your position, and accepting your limits.  In life, and business, you should not stretch to do more than you can.  What happens as a result of stretching too far is you find yourself out of position.  To use baseball terms, if you are the center fielder, stay in center field.  Sure, you can go to right center, or left center (just make sure you communicate) but you cant leave center field.  If you try to play right field, because you don't have a teammate to help with that position, you leave a large hole in the middle of your defense.  Some examples:

1.  If you are great at accounting, don't try to be in charge of lead generation.  You should outsource it to a “team member”.  This team member could be a host of different providers.

2.  If your are a great “buyer”, don't try to be the sales manager too.  You'll find that you end up not doing either of them well!

That's it for today!

Have a great day investing!

 

Tim

Tim Herriage
DFWInvestors.com
tim@dfwinvestors.com
214.607.1227