STOP meeting with investors all the time (unless you are new)

In 2017 I sat down with an investor that is new to me over 100 times as a goal of mine to network and build relationships, and while I did forge some amazing relationships I found myself moving away from my mission statement for my company MCK Management.  For reference our mission statement at MCK Management is:

"Take joy in what we build and create, what we teach and believe."

We invest in real estate because we enjoy improving the homes in our community.  We strive to help buyers, sellers and renters make one of the most important financial decisions in their life all while creating assets that we liken to art, while others validate our vision through financial compensation. We are creating a brand a legacy that our kids, families, friends and community can be proud of while also shaping a lifestyle that allows us to pursue the things we enjoy most with those we love most.

In late November of 2017, I read an article about what millionaires do to maximize their time that others do not.  I don't remember how many things were listed, but I do remember the three things I did not do that millionaires do.  Of those things it was to stop meeting with people all the time.  I call it the Mark Cuban rule, but I only meet with investors if it's a must meaning I need to see documents that are difficult to email, see how something works, or somebody is writing a check.  When I look back at all of the relationships that were established with investors, few were actually forged by an in person meeting.  When I think about it, what kind of value or information can someone not communicate over the phone.  I listen to 20 hours of podcasts everyday but just because I can't watch them live does not mean I learn any less.  What I realized is saving 2 meetings a week, saved me 6-8 hours that I could utilize to exercise, sleep and more importantly spend more time with my family.  My family is the #1 reason why I push on when real estate punches me in the gut, which is exactly why I stop short of using love to describe how I feel about real estate.  Something just doesn't feel right using the same word to describe a hobby and a passion as the people I can't live without.

When you think about it when you meet somebody in person do you really remember them more because you saw them or do you remember them more because they said something compelling to you that you can use in the future.   I have numerous friends, and I call them friends because they are, that I have never met or only met after countless conversations.  Why did we meet?  To get a deal done!  But long before that we realized that we could be mentors to each other to get a second opinion on deals, ask for advice on our craft, and partner on deals to meet our common goals.  The value is in what you do when you open your mouth and talk, not staring at somebody across from you drinking coffee. 

In those 2 meetings a week, I realized they often ran past the amount of time I intended to stay because I enjoy meeting other people and talking real estate, and the extra hour of travel was not necessary.  I drive 4-6 hours a day and can make myself available to talk and give someone the same advice and value with just a phone call so why meet in person?  Do you really build a better relationship?  I think not.  Some may not agree with me, and that's fine, but next time you schedule that meeting just think could you get the same amount of rapport building, value and relationship building by just making a phone call and used the saved time spent with those you love most?  Time is a commodity we never get back, so use it wisely.