In 2002, a movie featuring Eminem and Brittany Murphy was released called, “8 Mile,” it had one of the most inspiring songs I ever heard called “Lose Yourself.”
“You only get one shot, do not miss your chance to blow.” Eminem ryhmes, “This opportunity comes once in a lifetime.”
Is there opportunity in the marketplace right now?
Say Yes.
But here’s the problem.
Do you know how to find them? Do you know what to do when you find? Do you even know that opportunity is looking over your shoulder right now?
I’ve changed my entire business model to capitalize on the opportunities that are available right now.
As a recovering retail residential real estate agent, I put myself in a 12-step program to work with only high-net worth individuals who like their day jobs.
Though I’ve relapsed from time-to-time, I realize this time in history has already generated the future Bill Gates, Warren Buffetts, and Donald Trumps. Those who lose themselves with producing results and not excuses will survive no matter who is president or governmental policies.
And Eminem has done just that.
He’s not only a brilliant storyteller, but an example of Teamwork To Success
Marshall Mathers, a.k.a., Eminem is more than a lyrical sniper, but an example of how partnering with others can catapult your success.
It doesn’t matter if you would rather pull out your ear drums with dirty chopsticks, before you would listen to his rap music. Pay attention to the business side of successful music artist, there’s plenty to learn.
What Eminem Can Teach you about Setting up your Income Property Power Team
1) Treat it as a Business and not a hobby.
Marshall Mathers may have started writing while just a child, but this is no hobby. Read this next sentence twice… Do not participate in real estate investing as a hobby. It is to expensive and time consuming.
A hobby cost you money, but can provide mental enjoyment.
A true business is going to do both for the owner.
Marshall familiarized himself with the great storytelling artist. Even though most of you aren’t going to do this next step… discuss your plans about raising capital with your state’s securities corporate commission office and ask them to school you on regulation D.
2) Pick Members of the Team to get Started
Eminem’s meteoric rise can be contributed to his relationship with music legend Dr. Dre. Because of having Dr. Dre as a team member, doors were opened and money eventually walked in.
What does this mean for you? It is always best to partner with folks who have experience in doing what you want.
However, you must bring something of value to the table.
- What are you strengths, talents, or connections?
- Write them down right now.
- What are some of your closest friends and colleagues strengths?
- Now start connecting the dots.
For example, one of my main strengths is being fearless on the phone. That’s why I have a KJAM Radio Show on iTunes. I am to busy to hunt down all the low-hanging fruit opportunities this economy is providing. I have partnered with organizations from across the country that bring me unique non-MLS real estate and business deals.
Visit your local high-end real estate office. Interview brokers who don’t cringe about placing aggressive offers.
3) Share Investing Strategies and Future Potential
One of the things that makes Eminem so effective is how he paints mental pictures with his words. It is a skill that can be learned.
Share with others how you envision the highest and best use of a project.
Picture yourself in front of a property and telling your team…
Yes, this house is missing a front door, the windows are smashed, and the roof is caved in. But you need to look past that.
This house doesn’t want to be a home. It actually wants to be dental office space. With soft music, comfortable chairs and luxury ceiling fans that will breeze money into our pockets.
4) Get them Investing not Consuming
Eminem’s songs have achieved rare commercially success, because his team is focused on production. Their is a huge difference between an investor and a consumer. Tell your team to stop reading books, listening to tapes or watching videos. It is time to start writing contracts, knocking doors and making phone calls.
Investors make money. Consumer spend money. Spend 80% of your time trying to get hit by the bus of opportunity.
5) Begin Raising capital and Partnering Deals
Marshall actions come down to raising capital to do bigger things. His team raised capital to sign the rap mega-star 50 cent. His team raised capital and partnership to start a Shady Ltd, a sports fashion line.
Real estate investing is very simple. There’s only two things you need to do. Find Deals and Find Money. Every thing else is a distraction.
Have you ever been at networking event and had to give a 30 second commercial?
Recently, I went to a non-real estate networking event. For my 30 second commercial, I told the group that I had a $1.5 billion real estate tape that needed to be filled, and was looking to partner with someone.
Guess what happen?
I found a serious qualified partner.
Have you created a team yet?
Moving Forward,
Kendall Matthews