How to avoid getting it WRONG…
G’day all
Welcome to the weekend, yet again!
Can’t stay long, I have an online gin tasting waiting for me from Archie Rose Distilling Co. arranged by the Club of United Business we are members of (if you own or run a business, you HAVE to check these guys out – www.CUB.club they are Ah-mazing!)
Speaking of staying long, listening to the radio very briefly today, they were suggesting the opposition leader in Victoria is arranging a vote of ‘No Confidence’ in our local Labour government… be interesting to watch that space and see how it pans out…
Now, whether you are an investor or the Victorian Labour party, how do you avoid making those BIG mistakes, and getting it wrong?
In my Blog last week, I was talking about the 5 biggest mistakes investors often make when investing in the U.S. Market (check it out if you haven’t had a chance yet)
But today, I want to deep dive into one of those key areas that is PARAMOUNT into helping you avoid mistakes, and that is your TEAM.
Building a good team around you can be one of the most important steps you can make as an investor or in any business, and remember, you are no longer just ‘investors’, but in the Business of Investing…
And when hiring a team member for your business, it is crucial to follow the recruitment steps needed to get the right team member – and your property investment business is just the same.
Often, I have investors coming to me with horror stories and needing help from their U.S investment. Occasionally, they just bought the wrong house, but mostly, they did excellent due diligence on the property, researched the house, the area, the city for months…
But…
Then handed the keys to the first Property Manager that came along, and BAM… everything went sideways…
You need to do just as much research and due diligence when hiring your team, as you would the property.
When hiring a CFO for your company, you would certainly look for referrals, get applicants, check references, interview candidates etc.
This is the same process you need to follow when looking for Property managers, Contractors, Realtors, etc. Do your homework.
My blog this week is all about how to get a good team of people around you to help ensure you do not fall into the same trap as our premier here…
Having a good team around you, and listening to their advice is imperative to avoiding costly mistakes and errors
Read our blog HERE and let me know your thoughts.
You got this!
Happy Investing all and have a great weekend!!
