Why are real estate mastermind groups so powerful? How to you find and get started with one?
An Important First Step To Real Success
Although many real estate professionals, investors and business owners put this off until later in their careers, when they hit a plateau or emergency, creating a real estate mastermind group is actually one of the most important first steps you can make.
Experienced executives, investors and business owners know that having a mastermind group at the beginning can greatly accelerate their success and help with avoiding pitfalls.
What Is A Real Estate Mastermind Group?
A mastermind group is a collection of individuals with expertise and higher level insights and access, which can act as an active think tank and pool of resources and guidance. Every investor, executive, entrepreneur and serious independent professional should have one. A real estate mastermind group is simply one of these groups that helps them achieve real estate related business goals, and probably includes more experts with real estate specific experience. Though not exclusively.
People that may be in your real estate mastermind group may include:
- A coach
- Experienced investors
- Finance professionals
- Business experts and consultants
- Accountants and CPAs
- Real estate marketing experts
- Real estate and corporate attorneys
- Other real estate business owners
- Executives of real estate related vendors
You’ll get together regularly to tap their minds and mastery on these subjects. This could be one on one, though also as a group.
Types of Mastermind Groups
Real estate mastermind groups can take several formats today, including the following.
Boards of Advisors
You may have a formal or informal board of advisors. Informal board members can be simply experienced people you know that you can pick up the phone and call or do coffee or lunch with occasionally. A formal board will have regularly schedule in-person or conference call meetings.
One of the most modern ways to form a casual or informal mastermind group is simply to arrange a regular meetup of local real estate industry professionals. You can do this yourself on Meetup.com, or join other existing groups.
Real Estate Investor Clubs
REIAs or real estate investment clubs are another form of informal groups where you can tap into the expertise and minds of other industry investors, professionals and investors. You can go listen at seminars, browse the tradeshows and network.
Our boardroom mastermind group is an exclusive real estate mastermind group where serious professionals meetup to share tips, support each other, collaborate and help each other break through revenue ceilings and work more effectively to gain more free time, while enjoying amazing incomes and higher levels of wealth. It’s like the type of elite billionaires club time mastermind you’d find Warren Buffett and Mark Zuckerberg in, just for real estate. Find out the details here.
The Benefits Of A Real Estate Mastermind Group
There are many advantages of creating or joining a mastermind group, including the below.
We all have big dreams and goals, but even the best of us can get sidetracked. A real estate mastermind group is a great way to keep focused, maintain momentum, and turn those things in to reality.
Regularly being among a group of high achievers will both inspire you to bigger and greater things than you thought possible, and help provide the fuel and assets to get you there. This is true whether you are doing just 50 deals a year, or 200.
No matter how great you are at what you do, you will encounter new challenges in business and changing markets. Your mastermind group can be full of people who have already championed these challenges or can help you ask better questions and quickly find the best solutions for everything from picking the right real estate software, to hiring and managing, to sourcing deals, raising capital and more.
Success isn’t just about top line revenues. You also want the best profit margins, scale, market share and plenty of free time to enjoy these rewards and do the things which matter to you most. Your mastermind group can help you with tips on getting even better results on what you are doing now.
Company on the Journey
Success can be lonely. It doesn’t have to be. Maybe you can achieve a lot on your own, and quickly. Yet, it’s always better together and when you have like-minded companions on the journey. It shouldn’t just be all hard work. Make sure you are having fun and are enjoying it too.
Strategic Partnerships & Collaborations
A mastermind group isn’t just for information or spending some awesome days on a yacht or tropical resort. They can also become very valuable strategic partners you can collaborate with on different campaigns and ventures. This can lower your expenses, reduce risk, and open up more doors, faster.
With the right people in your mastermind group you can gain even better access to new information that isn’t freely shared out there. You may be able to instantly tap more customers in different niches and sectors, and even find more funding for your ventures.
No real estate pro should be without their own mastermind group. Create one, join one, and use it.