I was blessed with the privilege of speaking with Martynas Fedotovas on his awesome podcast, Beating Alpha, where I shared my journey into multi-family, what drives me, and the mission of Robinson Capital.
In the interview, I discussed my journey into multi-family investing, investing fundamentals, the goals of Robinson Capital and passive investing. Each of these are important subjects for anyone who aspires to scale to more units, wealth creation and impact from real estate.
You can check out the full video here:
However, in revisiting this interview, something stuck out to me more than anything. It is when I started to talk about your “Why” and your support system. Not an original thought of mine, I heard a speaker share that your team is not only your professional contacts, but everyone should have what is referred to as an “internal support system.” This is your spouse, significant other, best friend, mentor or other close companion.
Why?
What motivates you to invest in real estate? If it is to create wealth, why do you want to build wealth? What is the why behind that reason? Think deeper. What mission are you on?
In the interview, I shared that I bought our first rental property after my wife and I had just had our third and fourth children. Twins! I stated that others had observed and commented on the impeccable timing: “You just had twins; why would you buy a rental property?” My argument back was that I had decided to do that because I had just had twins! I had been studying real estate since 2013 and had taken little action before that. Having two children at once, doubling the heartbeats my wife and I would look after, was the perfect kick in the backside to finally take massive action.
The birth of our twins solidified for me the importance of following through on my personal commitments, building a legacy and being an example of living purposefully to those who will follow. That is my why. Think for a moment about yours.
Support Systems
In the interview, I emphasized the importance of this support system. This stuff is not easy. Investing in real estate, taking bigger steps, growing a business. The journey is not one without its challenges. Your support system is critical.
I shared that my wife is the primary member of my support system. She may not share a one for one passion, but she understands the mission and purpose of what we are doing. She sees the dedication I have as I stick to my 4a.m. weekly routine. She encourages me when I feel over my head and shares ideas and thoughts when I could use some guidance. She helps with our young children when I am on networking sessions or calls. She makes huge sacrifices.
If you think you can do it alone, operating with the mindset of an individual versus a team player, unfortunately, you are mistaken. As humans, we thrive in relationships and community; we must have a team. A support system. Take a few minutes to think about those in your corner. If you have not let anyone in on your mission, ask yourself who is that right person.
It Starts in Your Mind
While not educational or a how-to for success like many of my other articles, I share this because mindset is critical to starting and keeping going. Your brain stays with you through your successes and failures. Train it to be positive and hold on to your why. Train it to gravitate you towards your support system, your corner of loving team members. Everything else should follow!
