Just landed in Panama City, Panama (have to be specific because some people think I am in Panama City, Florida) early this morning and it’s so good to be back. Love the sun and heat, 85 degrees all year round (see Panama City above).
It’s also good to know you have a partner back home that has your back, which I do.
And having a partner in your real estate business is very rewarding professionally, it’s great to take time off, bounce off ideas with someone and to synergistically market together and get more business and listings.
But there are some pitfalls that you should always be aware of:
. Make sure your personalities mesh well together. This is why organic relationships in this regard work well.
. Realize your decision making is going to be slowed down. You can’t make snap decisions like you used to.
. You are going to have differences of opinion, know how to deal with them.
. You are obviously going to have smaller profits.
. Mixing business and friendship is tricky sometimes, especially if the partnership doesn’t work.
. Learn to manage your expectations, it’s easy to blame them for something you think they should have done.
If you’re careful, measured and really think things out, being in a partnership can be very rewarding, you can get more listings and it can be wonderful for your quality of life.
Just go into one with your eyes wide open.