Team Dynamics with Todd Fleming

September 22, 2021 melissa Real Estate Comments Off on Team Dynamics with Todd Fleming

Team Dynamics with Todd Fleming

Working as a one-person team in real estate investing can be tough. That’s why it’s essential to build a team if you’ve decided to start taking this business seriously. You get more hands to do the work and more heads to do the thinking.

On that note, we’ve got Todd Fleming. He’s the co-founder of the Kingdom Real Estate and best-selling author of If You Can’t Wholesale After This: I’ve Got Nothing For You. We’ve got him to talk about his take on team dynamics and why even a team member who’s not necessarily skilled (or interested) in real estate can still positively impact your success.

The points below are from the fourteenth episode of the Real Estate JAM, where Todd Fleming talks about the common problems his students face, breaking out negative thought patterns, team dynamics, and equipping yourself with the right mindset. Sounds like the episode for you? Tune in on the full episode on YouTube, Spotify, or Apple Podcasts.


 

It’s Called Team “Chemistry” for a Reason

In the episode, we hear of an excellent example of a healthy team. One is a driven person with a “go” attitude, another is a reserved kind of person, and the third one is not really interested in real estate as a whole. How would this team work?

It’s simple! The driven person pushes everyone to take action, the reserved one balances out the aggressive push with deduction and planning, and the third one, though not necessarily interested in real estate, can provide a client’s perspective (which is typically not interested in real estate too)!

Let’s look at an imaginary real estate business scenario. Imagine a potential deal has come up from one of the leads. One may take the initiative and want to IMMEDIATELY close the deal. “Let’s get it now before somebody else does! The opportunity is already here.” But another may pull the reins a bit and do some research first. “Is it a good decision to own this unit? Let’s check the numbers first.” The first one tends to be too quick to decide, and the other tends to be too slow! In these circumstances, the “energies” of both would likely collide and result in closing the deal fairly quickly after sufficient reviews are done.

But just before the decision is sealed in stone, the third person comes in. They see the house and go, “Who would want to live in this place? The kitchen is terrible for a family!” Even if the numbers check out, there’s still a “human” side that mathematics can’t catch. Although the deal could still be done, the team just needs to recalculate the final price when a heavy kitchen renovation (or other renovations) is factored in.

This is the effect of the third person. Often, you can get these sorts of suggestions from people that do the daily tasks. You may have trained them to do sales calls one way, but after they get to do several calls for months, they might have developed an opinion on how to improve conversations to drive better sales!

 

Two Heads are Better than One

How is all this better compared to doing things on your own? “Two heads are better than one,” as the saying goes. The more wise people you have around you, the better your decisions will likely be (given that you listen to them, of course)! If you’re just one person, you’re vulnerable to certain blind spots that only other people can see.

If you do get a team, but they’re all the same as you, the team will die (figuratively speaking, obviously). Rather than having “two heads”, you’re merely getting “more hands” instead. Imagine a team of conservative people. They’ll tend to miss out on opportunities and be scared of making a move without someone to push them. Their growth is slowed down in that way. However, if a team is filled with those on a “push-forward” mentality, then they’d be buying one property after another without proper planning! And don’t get us started on a team of “mildly-interested in real estate” people.

There are more than three kinds of team members out there. It’s a matter of finding the right mix of people and appreciating (and even embracing!) your differences. Sure, a clashing of ideas is inevitable, but in the end, a team works together to a designated goal. Some help you get there faster than others, and others slow you down. Make sure to avoid the latter.

 

Want to learn more? You can hear it from Todd himself! Listen to the full episode on YouTube, Spotify, or Apple Podcasts.

 

About Todd Fleming:

Todd Fleming is the founder of The Kingdom Real Estate and Power Of Finance. Todd’s purpose in life is to end financial suffering for others by providing financial education and mindset training on creating wealth and building better habits in life. Todd is the #1 Real Estate Best selling author of “If You Can’t Wholesale After This… I’ve Got Nothing for You.” In 2013 Todd had nothing to his name and had to make the decision of making a life for himself or giving up and living within the rat race forever. He chose to make a difference and began flipping and investing in real estate until later founding a movement to help others create financial freedom. Todd has been featured on Success Profiles Magazine, Secret Entourage, Secret Academy, as well as dozens of other podcasts and media shares.

 

Outline of the Episode:

  • [00:48] An introduction to Todd Fleming – baseball, rediscovery, selling cars, door-to-door sales, day trading, and real estate.
  • [07:32] The common themes that Todd has mentees have to deal with and how he helps them get over these issues.
  • [11:34] How do you break out of a negative loop of bad thought patterns?
  • [13:37] Todd’s first “flip-flop”. From taking a year to finish a flip, he can now do it as fast as 30 days!
  • [16:48] A spectrum of perspectives is essential to a team. There’s a reason why it’s called team “chemistry”!
  • [23:04] Todd’s wholesaling adventure. What’s wholesaling in the first place?
  • [26:55] “Nothing you do can’t be fixed.” What does that mean?
  • [28:35] The difference between quitters and those who’ve persevered in real estate.
  • [31:33] Getting away from a victim mentality and starting to take responsibility for your actions.
  • [34:26] Pursue something.

 

Resources:

 

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