Private Money Partnering

Risk Taking And You

Are you surprised at what your score was? Or was it a confirmation of what you already knew about yourself?

What kind of a risk taker are you? Are you more conservative than you though? Are you moderate, middle of the road? Or are you truly aggressive? Are your surprised by the results?

Or did you confirm what you thought? If you are going to be a partner with someone in a joint venture, with what kind of a partner would you be most comfortable? Someone who thinks the same way you do? Or perhaps, if you’re on the conservative side, you might like to partner with someone who is more aggressive than you, who is more comfortable with taking bigger risks. Now remember, anything is OK. The important thing is that you know about yourself and you act accordingly.

When we’re talking about partnering with one or two others in a joint Venture, you have got to be able to put yourself in somebody else’s Shoes, to see things from other people’s perspective. In this seminar I am not going to tell you what to do. I am going to tell you what to think about so that you can decide what is in your best interest. I'm also going to give you the tools so that you can help others get what they want, because that is what partnering is about. You have to help someone else get what they want in order for you to get what you want. Do you see how this should affect the way you look at things?

Real estate is not a gambling business. You must be willing to take some risks, but to get rich you must be prudent. Risk is mitigated by knowledge and experience. And you will always be very safe by doing nothing. In fact, you'll go backward. And, unless you do something, you won't learn. No matter what you do, it could be done better, it could be done more interestingly, it could be done with fewer mistakes. No matter what you do someone else may do it better, and that includes you a year or two from now. You'll need to accept that fact. Unfortunately, you may learn your best lessons by what you learn the hard way. In order to grow, you will have to take the risk and stretch yourself. However, there are ways to minimize the risks involved.

Risk can be handled in many ways…by avoiding it, transferring it to someone else, sharing it, controlling it. And effective joint venture partnering will help you to minimize risks to you can maximize the rewards to yourself, and your partner. My objective is to help you minimize risk in partnering by giving you the tools you need to be effective. Some of what we'll be discussing many

seem elementary, but the concepts really are basic no matter what the size of the deal, the number of partners, or the level of experience.

Why Partner A Deal - Chapter B