Tip: Form or Join Support Groups

A good idea for anyone but especially beginning real estate investors, join a support group of people who want to invest in real estate. While usually any support group is better than not having one at all, there are some guidelines I would like to suggest:

1. Attitude: Try to bring a good attitude yourself. This is most important, as it will rub onto others. Also, it's the one thing that you can always control. Control it. Additionally, try to surround yourself with people who feel energized. You often become like the people in your crowd. Surround yourself with people that make you want to keep going. Plus, be patient when things don't go quite the way you planned.

2. Aptitude: It helps to have someone in the group that knows a lot. Sometimes, you are fortunate enough to get two (2) or three (3) people who can guide the rest. It is nice to bring someone else who is not as far as you, too. You learn a lot by teaching (see previous post), but it also is a checkpoint. If the person behind you starts to catch you, you know that you need to pick up your pace. Learn how easily each person learns, as this will affect some planning. Not everyone learns at the same pace.

3. Ambition: First of all, you NEED to feel this. Without this, you will be scared. Real estate is somewhat complicated (so I'm told), and you will hit some rough patches. If you have a burning desire, you will see this as progress and one step closer to success. It helps if, at least, one other person in the group has a similar ambition level. When blended correctly, you will lift each other and maybe other people as well.

4. Availability: Who cares whether you have a great group if you can never get together? Try to establish this quickly. If it's too hard to please everyone, maybe split into smaller groups. The smaller groups can always exchange notes.

5. Skill Set: Understand YOUR skill set. Even if you're a beginner, you know something that someone else does not. Plus, try to learn what other people bring to the table. Remember that every person can bring something. I won't guarantee that everyone will be willing to share it, but many are. You might find a partner, a teacher, or just simply an idea of something you want to improve.

6. Peer Pressure: It's a good idea to include or find some members within the group who make you want to do better--people around whom you feel too foolish to let down for not doing your share of what you promised.

Most of the time, support groups are great, but if you take these things into consideration, you will be well-positioned to get the most you can from the group.