Property Investors Have No Problem With Upsetting Other People When Its Called For
When I speak to fellow real estate investors, the main cause for a lot of frustration comes from having to deal with hired workers on renovation projects.
Dealing with rude people comes with any business.
The Real Estate Investing Business Is Full Of Honest, Law Abiding Citizens
Just kidding.
For some reason, the real estate investing industry seems to have an abnormally high concentration of incredibly obnoxious and confrontational people. Dealing with these contractors and hired workers is an acquired skill set. And so it takes time to acquire and develop these skills.
For the inexperienced real estate investor, your learning curve with these people can be pretty steep. Hired workers and licensed contractors have a sixth sense that can smell your inexperience from a mile away.
The main reason so many real estate entrepreneurs have difficulty with workers is actually two-fold. The first is related to a lack of experience, the second is a fear of upsetting people.
The first problem is an easy one to solve. Just keep buying investment property and managing renovation projects. You will learn how to properly manage renovation projects and hold workers responsible. You will also become very experienced and knowledeable about material pricing.
You can ask an experienced real estate investor the price of any Home Depot product and he usually has it commited to memory.
This first obstacle just requires more practice.
The second issue deals more with a fear of upsetting people. And I must admit, that this one is more difficult to master.
When I first started out as a property investor, I wanted everybody to like me. This belief can be linked back to my upbringing and programming as a child. At a basic level, we all want to be accepted by the group.
As I matured as an investor, I learned how this particular approach to developing business relationships with workers and contractors would need to be dramatically different.
My approach to dealing with contractors and workers goes something like this. If these contractors and workers get out of line and don’t honor their agreements – they’re going to hear it from me.
I speak the truth and say what needs to be said and I don’t hold back.
I don’t confront irresponsible workers to be rude or abrasive.
These exchanges are initiated out of pure necessity.
A real estate entrepreneur has to stand his ground and hold others accountable no matter how upset they may become as a result.
That’s just the way it is.
