Having a great team is one of the many things you need to know to be a successful investor in the real estate world. So who makes up your award-winning team? Below is a short list of people you should consider on your team.
1. Mentor – someone who has done it successfully and can now guide you through the ropes. Start your own network of investors and benefit from having a mentor.
2. Mortgage Brokers – look for experienced brokers. You will need someone who is smart and creative.
3. Real Estate Specialist Lawyer – find someone who can review contracts and know the ins and outs of the real estate business from a legal point of view.
4. Escrow Officer / Title Representative – this is the person who can help you close the transaction faster.
5. Certified Public Accountant – this is the person’s number. When tax season comes, this guy will know how to navigate his real estate knowledge to help you clear your debt!
6. Insurance Agents – just in case you need someone to watch over you when things don’t go your way, seek out an insurance agent who is knowledgeable and trustworthy.
7. Contractors – this one is tough, but a good contractor is essential to make or break profit margins. Make sure you find someone who can meet deadlines and stay under budget!
8. Family and Friends – for moral support. Moral support is always important for any major project and/or financial venture, especially when things don’t go according to plan.
Other Members for the Team (Optional):
9. Realtor – be your eyes and ears.
10. Property Manager – to help you manage your projects and investments.
11. Super Unique Handyman – someone you can rely on to handle unexpected “little” things that might pop up out of the blue.
Be patient. Finding the perfect team will take time. However, once you find the right combination, you get the much-needed help and support that will make your investment in real estate a reality.
