Takes Two to Tango

You can dance alone and that’s fine.  Nobody gets in your way, no one stepping on your toes.  Dancing alone can be fun and you can do a lot of creative things. 

But dancing alone can also be tiring.  To make the dance look good you’ve got to be in constant movement.  The audience eyes are focused squarely on you and you must work the entire time.

However, dancing with a partner can be a lot of fun as well.  There are some pitfalls.  You have to watch out for someone stepping on your toes and you have to be sure not to step on theirs, but once you’ve mastered the routine the problems are solved.

One of the most magnificent dances you can perform requires a partner and it is the Tango.  

The reason the dance is so grand is because both partners have to work.  They both take responsibility for their part in the dance and if they are well rehearsed and practiced, the Tango is undeniably the most rewarding dance to watch and to perform!

So why the dance analogy on a blog about commercial real estate?  Simple, this post is all about Partnerships.  I wanted to veer away from talking about types of real estate and take a moment to explore business relationships.

Many people like to own real estate solely.  They don’t like the idea of a partnerships and they prefer to be the decision maker.  However, owning real estate in partnership with another can be a beautiful thing.  Once you learn the dance steps and establish the responsibilities of both participants, you’ll rarely step on each others toes.

When developing a partnership the first thing to remember is that it takes two to Tango!  Even though you set the rule and responsibilities of the parties, sometimes you have to cover for each other.  A good working relationship with a lot of give and take and some strong support are necessary for success.

I love to relate the story of when a good friend of mine and I went into business.  He was younger than I was and his father (a very successful business man) wanted to meet me.  We met and had a great conversation and then his father took us into his study and gave us some good advise. 

He said that a business partnership was kind of like a marriage.  He stated that it would take a lot of work to hold it together and that sometimes things would be great and other times things would be tough.  But, he said, if you both strive to do what is best for the ‘union’ (the partnership) then it will always work out for the benefit of the partners.

I agree completely with this comment.  There are many rules of thumbs that should be adhered to when developing partnerships and partnerships can be great in your business.  They can help you to leverage your time and assets.  And you can achieve greater wealth and expand your goals if you will remember one simple truism.

It takes two to Tango!

Michael Gross is the President of Dividend America Mortgage and has been in real estate for over 20 years. He has been a builder, a Realtor, an appraiser, and currently he is a lender and an active real estate investor. He uses all of his experience and knowledge to show individuals how to properly use a mortgage as a tool to help create greater wealth through real estate investing. For more information on residential and small commercial loans please call 770-350-7373 or email mgross@dividendamerica.com