As a working professional and family person with many other responsibilities, you cannot commit to the unconventional path of real estate investing with any sort of sustainment by doing it alone. Without fuel from a support system, you will quickly burn out, change course or, at minimum, lose momentum.
What is a support system?
A support system is a group of trusted people with shared values that have your best interests in mind and will hold you accountable to your goals and commitments when your passion and fire becomes hot air. By regularly engaging your support system, you have the social and mental nutrients you need to continue this journey. And as you should know, real estate investing is a journey, one that lasts a lifetime for the best in the business.
Who is your support system?
If you are married, your support system starts with your spouse. The reason for this is because your lifelong partner and you have made a commitment for better or worse and the two of you must seriously be aligned on your goals and mission and how real estate investing plays a part. Yes, this will be tough, but it is necessary. Haven’t you heard of the many “successful” people that have gained immense wealth and notoriety, but lost their family in the process? Success is subjective, but hopefully your definition of success involves your family. Check out my article, How To Gain Alignment With Your Spouse In Real Estate Investing for a more detailed approach to this important subject.
Outside of this, your support system includes the great people that help build a life that facilitates your investing. When you are busy with endless demands, your support system helps you to arrange your life in a way that time can be devoted to this endeavor. They can be friends, family or a neighbor that help with the children once or twice a week or a partner that can help with anything that needs attention or help from others in your personal life. It is hard to do it alone, and these people care and are willing to contribute to your sanity. Seek them out and use your resources.
Finally, your support system includes those with expertise in the real estate business with whom you have built a relationship. In other words, this is your network. These are the people that will share their experiences with you, help you brainstorm and give you guidance to help you grow as an entrepreneur and investor. In my opinion, it is best to seek out a network that has similar values. There are so many successful people I follow who would not be very compatible because our values are not the same. I have instead chosen mentors that value family, mission and helping others.
Prioritize a support system today.
The foundation is more important than what is built on top because it sets the potential for how big or large something can be done. It is no different in strategic planning or building your business. Start with the foundation of a support system; otherwise, you will have to go back many steps just to establish one. Engage the people around you for help as well as a network of trusted experts for guidance. Doing so is half the journey to your investment and business success!
Safe investing!
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– How To Use Your 401k To Invest In Real Estate
