3 Tips from a FO Mastermind for Better Life & Returns

I just attended a one-day Family Office Mastermind this past Friday in Fort Lauderdale.

The group is the Family Office Club. I am always expanding the network, learning, improving the business, and gathering knowledge for me and my community of investors.

I highly advise you to at least be part of some groups that would benefit you in your investing endeavors, as this is a great way to step up your game.

The network is the average of your net worth!

Now let’s start. There are several great takeaways I want to share with you.

#1: A Solid One-Liner

The first is the importance of having a one-liner on what you do.

This will apply if you are raising capital or looking for deals to place capital (so everyone should have one).

You need to be clear and concise with what it is and the clear advantage of investing with you, or clear on what asset types and their profiles you are investing in.

You also need to have a one-pager that clearly articulates what you are investing in, and any track record and experience in that sector you have.

Example: 20+ year investor in 21 deals as an LP, I deploy $50-250K checks in multifamily, class B & C, 50-300 unit size, and in the state of Florida.

This shows your experience, seriousness, and exactly the product you are looking to invest in and that you are passive.

Richard does a great job breaking it down in this video.

#2: Invest in what you are good at

The second tip to follow is not to step outside of your area of competence unless you know someone you highly trust.

When looking for investments, don't look to spray and pray, as the results are typically mediocre at best.

So invest in asset classes you have an edge over others or you know someone that has the expertise in that sector that you highly trust.

A lot of investors tend to have an exit or build up their net worth and think it is best to diversify into assets where they do not have an edge.

Stick to what you know.

#3: Enjoy the present

Last, you should always have the most fun of your life this year.

This is especially important in today's world where most older people regret not spending more time with their family.

We all get tied up in going after these imaginary numbers we make up by moving the goalpost every time we hit it.

I have been guilty of this and am trying to be self-aware and schedule time for those things outside of work.

Not only does this create enjoyment but will give you a break. You'll be the most creative around your investing decisions by allowing some space to think.

I will keep you updated this year with what I do with my two boys and how I start teaching them how to invest at an early age.

Over the next few months, I will also talk about some tax strategies I have implemented and learned from recent events.

Stay tuned and look for these, as taxes may be the biggest expense in your life.