Peak Multi Family March Recap

This month Vera Wang Cassara and Diana Lin from Navi Ventures discussed intense and much needed conversations around Multifamily investment, passive investment, entrepreneurship, and much more. Here are a few takeaways:

1. Finding strategic partnerships that complement your skillsets is crucial in business. It's like finding the missing puzzle piece to complete your vision. But before committing to a long-term partnership, "date" your potential partners to test the waters and ensure you're compatible. Just like in a romantic relationship, you want to make sure you're partnering with someone who shares your values, goals, and work ethic. Take the time to get to know them, their strengths and weaknesses, and how they handle challenges. Don't rush into a partnership – "date" them first! 😉

2. Education teaches us to be good employees by focusing on skills like critical thinking, problem-solving, and communication. But entrepreneurship requires a different set of skills like risk-taking, adaptability, and creativity. In school, we're taught to follow rules and avoid failure. But in entrepreneurship, failure is a necessary step towards success. We need to learn to embrace failure, think outside the box, and be comfortable with uncertainty. Education gives us a foundation, but entrepreneurship requires us to build our own path.

3. Multifamily investment can be challenging and unglamorous. Being an operator requires hard work, dedication, and attention to detail. It's not just about collecting rent and waiting for the money to roll in. You need to be hands-on, dealing with maintenance issues, difficult tenants, and unexpected expenses. It's a 24/7 job that requires a lot of effort and sacrifice. But the rewards can be worth it – financial freedom, a sense of accomplishment, and the ability to create a legacy. So, if you're considering multifamily investment, be prepared to roll up your sleeves and get to work!

4. Networking is about creating genuine connections with others in your industry. It's not just about collecting business cards or attending events. It's about building relationships and finding ways to bring value to others. To network effectively, listen more than you talk – 80% of the time, focus on understanding others' needs and challenges. Then, see how you can help them, whether it's through your expertise, resources, or connections. Attend events like @the_real_estate_ladies and Peak Multifamily Meetups to be in proximity of like-minded individuals who share your passion for real estate. But remember, networking is about giving, not just taking. Come prepared to offer value and build meaningful relationships.

Last but not least, a book recommendation: "The Go-Giver" by Bob Burg is a must-read for anyone in business or real estate. It's a quick and easy read that teaches you how to succeed by focusing on giving value to others. The book introduces the Five Laws of Stratospheric Success: Value, Compensation, Influence, Authenticity, and Receptivity. It shows you how to apply these laws in your daily life and business to achieve success and build meaningful relationships. The book is inspiring and practical, with real-life examples and actionable tips. It's a game-changer for anyone looking to build a successful and fulfilling career in real estate or any other industry. 

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