Real Estate Investing


Work With Other Professionals for Real Estate Success

Real Estate Investing is better done as a “team” activity. Successful investors are not lone wolves. While investors are in the driver’s seat and responsible for investment decisions, real estate investment activities involves some activities that are complex, requiring specialized skills and knowledge.

Virtually no investor can be an expert or provide all services required for investing on their own. “Simple” real estate investing can only be so by employing and using experts that can advise, manage and understand the complexities of real estate in partnership with you.

New investors need an understanding of all the various elements of investing, and should begin early to build a team that enables success.

As you build your team, there are important factors that you must consider when selecting team members. You need to find reliable people and partners who are the best at what they do, who will get the work done, who actually do what they say they will do and who communicate efficiently and effectively with you.

Professionals to Include on Your Real Estate Investing Team

Important team members for the Real Estate Investor include:

An investor friendly Real Estate Agent and Broker that is active in the area where you are investing.

Property Managers that know the local rental market for the type of rentals you need to manage which may include short term rentals or long term rentals depending on your strategy.

Contractors and Trades People that can perform renovations and maintenance. This will include a general who can coordinate all, or specific skilled tradespeople (carpenters, plumbers, electricians, etc.) if you plan to oversee them yourself.

Attorneys that specialize in the type of law that aligns to your investing goals and strategies. This may be property and tenant lawyers, contract and investment lawyers, tax attorneys or corporate lawyers.

An Accountant and Bookkeeper that understands real estate investing and the related financial work that is required for investors.

Mortgage Brokers and Lenders that can provide access to funding aligned to your specific needs. As an investor this will require specialized knowledge, typically much more specialized than that required by the typical homeowner.

A Title and Escrow service that is investor friendly, particularly if you will be doing creative deals that may require double closings, assignment fees and who can work on a timeline that is needed by an investor that often must take action more quickly than a typical homeowner closing.

These are the core members of your team that are crucial to begin to assemble early in your real estate investing journey. As you progress there are others that you will likely add to your team. This will likely include insurance agents, home inspectors, marketing and sales expertise, technology consultants, joint venture partners and others.

Your strategies, your growth and your own skills and shortcomings should guide the formation of your team – those identified above will be important early in your journey.

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