the importance of teamwork

[Jason Malabute]

I am taking the Biggerpockets multifamily bootcamp and I am learning so much. There are four parts to any real estate business. Here are the positions of a real estate business:

• Hunter (acquisitions)- market expert and deal hunter
• The money- private money-raiser and coordinates lender
• The brain- the underwriter and business plan developer
• The hammer- asset management and implements business plan

When I first started my real estate career, I incorrectly thought you could do all four parts of the business by yourself. When you are first doing smaller deals, it is possible to do all four parts of the business. However, once you do bigger deals, it will be advantageous to work with partners that complement your weaknesses. Remember, Jordan and Kobe had all the talent in the world but did not start winning championships until they started getting the right pieces around them. The same concept applies in business. I realize that I gravitate more towards the hunter and the money role because I love the thrill of the hunt, talking to people, meeting people, negotiating, and considering myself an alpha male. Now that I know this, I am intentionally looking for partners to grow the business. I am careful to screen to only work with people with the same values as me (obsessed, integrity, and accountability). I would love to work with accountable people, have integrity, and are obsessed with the underwriting and asset management part of the business. I am just paranoid about my future partners having the same values and views as me. I partnered with someone back in college and I did a poor job of vetting and making sure their values and vision matched mine and blew up in my face. I learned my lesson, but I refuse past trauma to stop me from growing in business.