Relationships are the Key to Longevity in Real Estate Investing With Adonis Lockett
Value every relationship that you make in real estate. It’s not about how much money you make. Real estate investing is a numbers game in a people business. You need to pay people what they are worth. You never know when you might need them again. Join Tim Herriage as he talks to the Director of Operations at LNH Capital and myRE360, Adonis Lockett about valuing the relationships you created in real estate investing. Learn more about myRE360 and why you need to use it for real estate investing just how you use Uber for getting a ride. Discover the importance of face-to-face meetings so that you can build that relationship. Start going out and meeting new people today! — Watch the episode here Listen to the podcast here Relationships Are The Key To Longevity In Real Estate Investing With Adonis Lockett One of my favorite people is with me, Adonis Lockett. How are you? Trying to make it, man. I’ve known Adonis for a while now. He was one of the first people we reached out to get on the show. Why don’t you take a minute, introduce yourself, and tell people who you are and what you do? I am the Principal of LNH Capital. I am the Director of Operations for myRE360. I own a real estate, brokerage mortgage, brokerage wholesale company, holding company, and property management company. I am everything real estate investing in 16 cities in 11 states. I remember when I first met you, my partner at the time was like, “There’s this guy from LA I want you to meet.” You are not from LA. You are from New York. One of the things we do that I like to do is it’s called the bottom line up front. When I used to brief generals in the Marine Corps, I was in the intelligence analyst field. One of the things they would always tell us was to say the most important thing up front because if we got a mortar attack or something, the general’s got to get up and leave the tent. You need them to know the most important thing. Imagine our readers are in their car, and we need to let them know the most important things that are happening now in real estate that they should be doing, thinking about, exploring, and not doing. I’m going to turn it over to you. Let’s bluff. The number one most important thing in real estate is not the amount of money you earn, save or spend. The number one, most important thing is relationships. Relationships are the key to longevity in real estate investing. The real estate investing world is small. Everyone and every source of truth are one phone call away. No matter what city or state you are in, you are going to meet someone who has done business with you. They are going to have 1 or 2 things to say about you, good or bad. The one thing that will sustain you in this business is relationships. No matter how much money you’ve made someone or personally, at some point, the resources in real estate investing is finite. The relationship is going to be the only thing that keeps you in business for a long time. In real estate, the only thing that’s long-lasting is your name. Your name is everything. No matter how many times you change your company name, everything that you do, every relationship that you create, and every relationship that you destroy will be tied to you personally. Ten companies over, there is a name that’s a quarterback in those companies. The relationships that you create and destroy will be the reason why your real estate business expands, scales to unmeasurable heights or be the reason why it stalls out and becomes stagnant. One thing I want everyone not to make the same mistake that I did was that a working relationship does not work out. That does not mean the relationship as a whole should be torpedoed. Transactions will come and go. Relationships can survive bad transactions if you know how to conduct yourself properly. It is a numbers game in a people business. In myRE360, what do you do there? MyRE360 is a void that exists in the real estate investing industry. Picture this, when you don’t have a car, and you need a ride up the road, what do you do? You call Uber. You call Lyft. When you need to get a house for the weekend, you go to Airbnb. When you need to find something online, you go to Google. When you need to insert some service, there are household names that you go to. If you need a painter that’s going to paint your living room, where do you go to find that painter? If you need a title company, if you need a gardener, name the one place that you go to find a title company, a painter, a gardener or a cabinet supply. Name one place that is the everything go-to place for real estate investing. Many investors go to Facebook. That’s my point. Facebook is not a real estate investing platform. Airbnb does one thing. Uber does one thing, offer transportation. MyRE360 is the void that exists in the real estate investing industry. One hub for everything real estate investing. Anything you want to learn in real estate investing, you come to 360. Any vendor you ever need, title company, insurance company, painter, carpet cleaners, and you need a cabinet supply, 360. Any vendor or deals you need, and if you are having a problem finding deals, come to 360. You need a project management system, and you come to 360. Anytime you think of real estate investing, you think 360. Why was that important to you to create? I have been in the business for several years. In year 7, I was 50 houses flipped. I’m five rental
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