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December 16, 2024 | 4 Minute Read
NINTH COMMANDMENT: THOU SHALT RESPECT THE GAME
“Respect the game.” Anyone who has spent time with me in a business setting has probably heard me say it. And it’s more than just a saying, it’s a mindset that has consistently guided me in the right direction. Why? Because the game, whether it’s business, real estate, or life itself is both beautiful and brutally honest.
The game doesn’t care about our excuses. It doesn’t care about how we feel while making moves. It simply reflects the reality of our efforts and decisions. That’s why the game should be one of our most trusted allies as we work toward our goals.
The game provides us with unapologetic, direct feedback. It doesn’t sugarcoat. It doesn’t lie. It gives us the truth we need to grow into a successful real estate investor, or to succeed in any field.
What does the game demand in return? Accountability. This isn’t something many of us are used to before we step into real estate investing. I remember when I worked a regular job (ugh). Back then, it was easy to shift blame—to point at co-workers, my boss, or even a flawed process that felt stacked against me. But when I started in real estate, I quickly realized that mindset didn’t serve me anymore. When things didn’t go perfectly, I sometimes found myself instinctively looking for something, or someone to blame.
But here’s the truth: To be the best version of myself, I had to take full ownership. Of my wins. Of my losses. Of everything in between. And that was hard. It still is.
When the game gives us feedback. When it tells us what needs to change or highlights a flaw in our process, we have to respect it.
If we embrace that feedback with humility, we can develop a student-teacher relationship with the game.
The game is a wise and patient teacher.
It delivers lessons with no fluff, no distractions, just the raw truth we need to move forward. And if we listen, these lessons can accelerate our growth and push our businesses to the next level.
But first, let’s recap where we are.
Ten Commandments of House Flipping
Thou shalt know the After Repair Value (ARV) ✅
Thou shalt keep multiple exit strategies ✅
Thou shalt make offers daily ✅
Thou shalt leverage the inspection period ✅
Thou shalt not advance money to contractors ✅
Thou shalt build relationships ✅
Thou shalt master Other People’s Money (OPM) ✅
Thou shalt view failure as a lesson ✅
Thou shalt respect the game 👈
Thou shalt be nice
Ninth Commandment: Thou Shalt Respect the Game
You might be wondering why I’m talking about the real estate investing business (a.k.a. “the game”) as if it’s a person. If we treat the business like a conversation, seeking signs and feedback to understand if we’re on the right track, it becomes our best teacher. Real estate investing is like an onion, with layers we peel back as we grow and learn. Each layer gives us insights to improve and evolve.
Let me walk you through how the game provides feedback in key areas:
LEAD GENERATION SCRIPTS: If we aren’t receiving leads within the expected timeframe, the game is telling us to improve either our tone or the frequency of our calls.
OFFERS: If offers aren’t being accepted but we’re close, the game is signaling that we should adjust our pricing slightly upward. If offers are being accepted, that’s confirmation we’re on the right track.
POWER TEAM: If our team isn’t meeting expectations, the game is telling us to reassess how we set and communicate our goals with them.
COMPARABLES: If we’re discovering new comps during the inspection period that weren’t considered earlier, the game is urging us to refine how we apply our criteria during due diligence.
REHAB ESTIMATES: If actual rehab bids are consistently higher or lower than our estimates in a specific market, the game is showing us the need to fine tune our calculations for greater accuracy.
OTHER PEOPLES MONEY: If OPM lenders aren’t engaging after we pitch them, the game is pointing out areas to improve, like our tonality, conviction, or delivery.
CONTRACTORS: If a contractor’s reliability, schedule, or professionalism isn’t up to par, the game is telling us to reevaluate our selection criteria or vetting process.
ACCOUNTABILITY: If your team isn’t proactive in managing projects or marketing properties, the game is encouraging us to tighten up how we set and reinforce expectations.
These examples highlight how the game provides feedback, but they’re just the beginning. By maintaining an ongoing dialogue with the game, listening to its signals and adjusting accordingly, we can make tremendous progress.
The key takeaway is to always pay attention to what the game is telling you. Respect the feedback. Honor it. If you do, you’ll find yourself on the fast track to becoming a successful investor.
