Peter Pays Paul

Real estate investing and sports are alike in many ways. I mentioned earlier that longevity or perseverance can help you to succeed in both endeavors.

Real estate investing is similar to sports in another regard. Just like in sports, there are huge benefits to having a coach or mentor. I see three main benefits of having a coach in real estate investing.

Assembling the Team

One of the roles that a sports coach plays is that of personnel manager. The coach knows what is necessary to win the championship and does their best to assemble players in order to accomplish this goal. A coach evaluates his/her team’s weaker positions and finds players that will fill those weak positions.

A coach also makes sure that each player is fulfilling his or her individual role. If one player fails, the entire team is put in a position to fail.

And so it is with real estate investing. A coach/advisor should assemble the best team to help you succeed in the game of investing. A coach should have a top-notch team that includes a real estate attorney, an estate planning attorney, an accountant, and a property manager. A financial planner is another highly recommended team member.

These team members allow your advisor to specialize in finding the right investments that fit your plan and not to be distracted with other elements. A real estate advisor should also ensure that each team member is effectively fulfilling their role, helping you on the way to achieving your dreams.

Planning on Offense

Successful sports coaches also develop the strategy of the team. After evaluating the individual team members, a coach assesses their strengths and weaknesses and develops a plan to win. Not every team is the same. During different seasons, certain players may be stronger in areas than the preceding season’s team. A coach must adjust their strategy accordingly. For instance, a football coach with a weak quarterback may run the option rather than a West Coast Offense. A basketball coach with shorter, quick players is going to emphasize an outside game rather than force their team to play inside the paint.

A real estate investment advisor realizes the same is true of their clients. Not every investor is willing to take the same risk. Not every investor has the same assets and income. Individual investors also have distinct time frames to accomplish their personal goals and dreams. (In truth, any good investment professional should develop a customized plan for each client and not a blanket plan that is applied to all clients universally.)

A real estate investment advisor will develop a line of attack, in conjuncture with the client, that allows the client to accomplish their aspirations. This will take into account what the client wants or needs, currently has, and will possibly have in the future.

Planning on Defense

Another important role of coach is defensive strategy. No human can consistently predict the future. Coaches do not know what move the opposing team is going make at any time. Therefore, a good coach will prepare their players for any move that the other team might make.

A real estate advisor should also prepare you for the attacks of Murphy (of Murphy’s Law), natural disasters, and the economy. A real estate investment advisor will help you to know what steps are necessary should an unforeseen force affect your investment. You should be prepared to face challenges and overcome them with the help of your advisor.

Real estate investment coaches/advisors walk with you down the path to success. They instruct and teach you along the way and do not desert you after they are paid. Their ultimate goal is your attainment of your goals and your dreams.

“Success is peace of mind which is a direct result of self-satisfaction in knowing you made the effort to become the best that you are capable of becoming.”
–John R. Wooden, Head Basketball Coach, UCLA

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