Baltimore Real Estate Investing Blog

Ned Carey's Comments on Real Estate Investing, Business and Finance

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Quote From Charlie

January 28th, 2015 · 4 Comments

If you’re lazy and unreliable, it doesn’t matter what you’re good at.

– Charlie Munger,

Being really good at something is not near as important as accomplishing something. The real estate business is not something you can do successfully by yourself. You need others to be successful in Real estate investing. REI is team sport.  Do you really think that if you are lazy and unreliable others are going to want to work with you?

The real estate business in Baltimore City is a small business. I run into the same people over and over. Your reputation will get around. If your reputation is that of someone who is unreliable, no one will beat your door down to do business with you. No one brings deals to investors who can’t perform.

However if you have a reputation for working hard, being reliable and trustworthy, you will find others will go out of their way to work with you. I do a lot of business and have the ability to bring a lot of business to the people I work with. The attorneys, accountants, partners etc I choose to work with are all top notch. There are a ton of professionals that I simply will not work with again, as they dropped the ball when they had the chance.

By the way if you are afraid of partnering in your real estate investing, I get it. We all here stories about how partnerships can turn into horror stories. But how about all those partnerships that work out great. I have had 6 main partnerships in by business life. Two did not work out, but broke up on good terms. Four have worked out well to really great.  Oh and, Charlie Munger, who made the quote above, his partnership worked out pretty well too.  He is Vice-Chairman of Berkshire Hathaway and his partner is Warren Buffett.  Click here to read some great quotes from Warren Buffett.

Tags: real estate

4 responses so far ↓

  • 1 Greg M (1 comments.) // Feb 1, 2015 at 6:53 pm

    Great article. I found your blog from BP. Thanks for sharing the info. It is definitely important to be honest, reliable, and professional with everyone that you work with. Those relationships are so valuable!

    Greg
    http://www.KRLGroupFL.com
    Greg M´s last blog post ..The Bootlegger – Tampa Heights newest renovation project

  • 2 Christina Ramirez, Realtor (1 comments.) // Sep 12, 2015 at 6:07 pm

    Ned – looking forward to working with you again SOON! Love your blog website!

  • 3 Vanna (1 comments.) // Jan 30, 2016 at 11:05 am

    You are definitely right when you say that real estate business is not for solo players. In fact, it can be, but it is more successful if you have a team around you. Nice post!

  • 4 Gabe K (1 comments.) // Mar 19, 2016 at 3:10 pm

    Reputation is everything in this business. I have fortunately had successful partnerships, but I have also seen other partnerships fall apart. Trusting your gut is key.
    Gabe K´s last blog post ..Langley Real Estate Market Report For February

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