BUSINESS FUNDAMENTALS
MASTERMINDS
“THE ENTREPRENEURIAL JOURNEYCAN BE SUPER LONELY, BUT IT DOESN’T HAVE TO BE."
-Jason Medley, Collective Genius
Master Your Mind
HOW MASTERMINDS FILL THE EDUCATIONAL GAP IN THE REI SPACE
by Kelli White
ore values. Strategic objectives. Methods of operation. Building
Collective Genius, has 140 high caliber members and meets quarterly in Tampa and San Diego. One requirement is that Collective Genius members flip at least 50 homes per year or have at least 50 rental properties/doors. His members share all of their systems, strategies, and resources in addition to creating businesses together, funding deals for each other, and joint venturing on syndications to take down apartments and SFR packages. He said because real estate investors are entrepreneurs, they often endure a lonely journey. But they don’t have to. Masterminds offer a supportive community bound by core values that take investors on a fast track to success. “It makes the journey less lonely, less painful,” Medley said. “Most real estate investors I meet are not experienced business owners. They were never taught how to run a business. There are a lot of flippers but not a lot of house- flipping businesses. That’s where masterminds come in.” The three main components of a
quality mastermind are to help real estate investors: 1. Accelerate progress; 2. Transition from flipper or landlord to business owner; and 3. Build wealth. And to do these three things within a culture of accountability that emphasizes strategic objectives for its members. Besides a shared space offering education and a place to manufacture deals, masterminds offer a supportive community that creates wealth together. Medley has formed valuable relationships because of Collective Genius — beyond business relationships — people he travels with and whom he considers true friends. “It’s a place to celebrate challenges and victories and not be judged,” Medley said. “You’re surrounded by other smart people who keep one another in check when it comes to life balance. Business can require heavy lifting, but masterminds can create situations where a rolodex does the heavy lifting for you.” •
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a team. Metrics. A lot goes into owning a real estate investing business. With all the education available, many investors — new and seasoned alike — are still lacking intel and insight to help them achieve their greatest version of success. One question often not addressed in most REI education is: What do you stand for? Masterminds help real estate investors answer that question. Masterminds are groups of like- minded individuals who want to learn, share their knowledge, and propel themselves, and each other, to higher levels. Think Realty owner and CEO, Eddie Wilson said, “There needs to be real estate education beyond just the basics, and that is the gap masterminds fulfill.” So, we chatted with one of the masters of masterminds, Jason Medley, about how these groups educate, inspire, and ultimately support real estate investors. Medley’s mastermind, The
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