Real Estate Investing: Inspection Check List

Imagine you shift in your new home and the roof starts leaking during the rain, or there are cracks on one of the walls of your living room. How does it feel? To avoid such incidents, it is always wise to inspect your real estate before plunking hundreds of dollars on buying it.

Doing the Inspection on Your Own:

It is better to do inspection on your own in order to get better price for the real estate. However, you need not learn the technicalities of building to check out errors. Anybody can make out if the home needs repairs, or there is something wrong with the drawers and sinks. Moreover, bring along a home inspector with you, inspecting on your own helps in negotiating with the sellers regarding the flaws.

Checklist for Home Inspection:

It is a good idea to keep a list of things that you have to check while looking around the house. Make notes of the things that are wrong. Do not depend on your memory in this case. There are innumerous things to check. You may find many flaws too. Your checklist and notes will help you during negotiation with the estate seller.

HUD’s Handbook for Minimum Property Standards:

HUD?s Handbook, illustrating the minimum housing property standards, comes in handy during inspection. You can order the handbook online. The HUD Direct Distribution System gives it free.

Inspection Checklist for Your Home:

? The position of the propane tank.
? Water logging spots around the house as well as the drainage system.
? Trees and other plants that are posing a hindrance.
? The condition of paint.
? The condition of roof, chimneys, and pipes.
? The alignment of doors and their locks.
? The windows panes and glass.
? Cracks in the foundation and the height to avoid the threat of harmful insects creeping inside the house. Cracks larger than 1/8 inch is a warning sign.
? Condition of the driveway.
? The supports of the porches, their paints and porch boards.
? The doors and ventilation of sheds.
? Electrical fixings.
? The sturdiness of fences.

Inside the rooms, you should inspect the walls, ceilings, and floor for visible cracks. Check the cabinets and bathrooms for drains, fireplace, faucets and sinks, and lightings. Check the garage too. Take your time and inspect every detail of the house. It is you, who have to live in it.

Remember, real estate inspection serves as a tool for negotiating the price with your seller. Do not sign any document before inspection. Dig out as many flaws as you can and present them before the seller to get a fair deal.

So, start pointing fingers!

Real Estate Investing - Not A Solo Sport

Real Estate Investing is not a solo sport, but a team effort. It is so important to select your teammates well and constantly evaluate each player’s performance against the overall goal you are working toward.

The scout is the person who helps you locate the deal. This person knows what you are looking for and brings you the deals for evaluation. A scout can be a real estate agent, another investor, a reputable wholesaler or even consistent advertising medium. You should be prepared to compensate your scout and provide incentives to bring you great deals. If they aren’t giving them to you, they are giving them to someone who will compensate them accordingly. Be generous so that you will always be top of mind.

The next team member is an accountant. Your accountant should be someone who specializes in real estate practices. Ideally, they should own real estate themselves. This person helps you take advantage of the tax savings that comes along with buying real estate. We suggest that you interview several. A good accountant will save you much more than their hourly rate, so don’t be intimidated by high fees. They are well worth it if they can do the job properly.

You will need a good real estate attorney. Most people have a closing attorney. Remember that the closing attorney in a transaction works for the mortgage company - not you. You will want an attorney you can depend on to represent your interests. They should be able to advise you with any title issues, assist you with land trust formation, help you with entity selection and provide general council for real estate transactions.

Home inspectors are worth their weight in gold. A good home inspector can help prevent you from purchasing a poor investment, give you a realistic picture of the repairs and give you a general picture of the costs required, as well as alert you to safety concerns. Our home inspector has saved us thousands of dollars by helping us chose not to invest in properties that required more renovation than we had estimated in the deal.

Once you have found a property, financing your real estate investment is the key to a successful real estate career. Helping you determine the best way to finance an investment based on your overall strategy is very important. The majority of the benefit of real estate comes from using leverage. With all the various types of loans available now, you will want a mortgage partner who understands investing, can help you determine which loans are best for a particular piece of property and provides long term strategies that will enhance your credit standing - not hurt it.

As with any team, it takes a while to work together to make sure that you have all the right players. At times, you will find that players need to be traded and sometimes it is good to have alternates.

I encourage all of my investors to interview their teammates in advance. Have a series of questions prepared in advance and determine who you feel most comfortable with. We have found that it takes a couple of plays sometimes before they really understand you and your goals, so be patient. If however, you don’t feel confident with their ability - trade them. This is your future - not theirs.

About the Author

Anne Lackey is a real estate investor in Atlanta and works with The REI Team at Solid Source Realty, Inc. http://www.theREIteam.com. She frequently helps other investors in their pursuit of financial freedom. She is the President of Solid Source Property Management, Inc. http://www.solidsourcepm.com

Real Estate Investing ? Not A Solo Sport

Real Estate Investing is not a solo sport, but a team effort. It is so important to select your teammates well and constantly evaluate each player?s performance against the overall goal you are working toward.

The scout is the person who helps you locate the deal. This person knows what you are looking for and brings you the deals for evaluation. A scout can be a real estate agent, another investor, a reputable wholesaler or even consistent advertising medium. You should be prepared to compensate your scout and provide incentives to bring you great deals. If they aren?t giving them to you, they are giving them to someone who will compensate them accordingly. Be generous so that you will always be top of mind.

The next team member is an accountant. Your accountant should be someone who specializes in real estate practices. Ideally, they should own real estate themselves. This person helps you take advantage of the tax savings that comes along with buying real estate. We suggest that you interview several. A good accountant will save you much more than their hourly rate, so don?t be intimidated by high fees. They are well worth it if they can do the job properly.

You will need a good real estate attorney. Most people have a closing attorney. Remember that the closing attorney in a transaction works for the mortgage company ? not you. You will want an attorney you can depend on to represent your interests. They should be able to advise you with any title issues, assist you with land trust formation, help you with entity selection and provide general council for real estate transactions.

Home inspectors are worth their weight in gold. A good home inspector can help prevent you from purchasing a poor investment, give you a realistic picture of the repairs and give you a general picture of the costs required, as well as alert you to safety concerns. Our home inspector has saved us thousands of dollars by helping us chose not to invest in properties that required more renovation than we had estimated in the deal.

Once you have found a property, financing your real estate investment is the key to a successful real estate career. Helping you determine the best way to finance an investment based on your overall strategy is very important. The majority of the benefit of real estate comes from using leverage. With all the various types of loans available now, you will want a mortgage partner who understands investing, can help you determine which loans are best for a particular piece of property and provides long term strategies that will enhance your credit standing ? not hurt it.

As with any team, it takes a while to work together to make sure that you have all the right players. At times, you will find that players need to be traded and sometimes it is good to have alternates.

I encourage all of my investors to interview their teammates in advance. Have a series of questions prepared in advance and determine who you feel most comfortable with. We have found that it takes a couple of plays sometimes before they really understand you and your goals, so be patient. If however, you don?t feel confident with their ability ? trade them. This is your future ? not theirs.

About the Author:

Anne Lackey is a real estate investor in Atlanta and works with The REI Team at Solid Source Realty, Inc. http://www.theREIteam.com. She frequently helps other investors in their pursuit of financial freedom. She is the President of Solid Source Property Management, Inc. http://www.solidsourcepm.com

Real Estate Investing - Building Your Team

The story goes that legendary football coach Vince Lombardi once opened a team meeting by saying, "OK men, we’re going all the way back to the fundamentals." Holding up a football he began the day’s lesson, "This is a football."

After a brief pause, one of the players raised his hand. "Coach… you’re moving a little fast for me."

Whether this tale is true or not, it does illustrate an important point. Even the best need to begin with fundamentals, and nothing is more fundamental to your Real Estate Investing business than building a team of competent professionals you can rely on. With that in mind, let’s outline the steps necessary to put together a quality team.

Take A Personal Inventory

First, you need to decide what skills you possess, or more importantly, what skills you don’t possess. For instance, if you are a licensed Realtor or a CPA, you probably don’t need to find a Realtor or accountant to work with you. Likewise, an experienced General Contractor won’t need to find another GC for his or her team.

Begin by taking inventory of what you are good at, what you can handle in a pinch, and what you know you just can’t or don’t want to do. Write your list down. Now, think about the types of people available to help you with the areas you are weak in. Here’s a list of the various types of professionals I have used over the years.

Realtor, attorney, bookkeeper, accountant, general contractor, specialized sub-contractor (roofer, plumber, electrician, heating and cooling, landscaper, etc.), handyman, engineer or home inspector, banker, mortgage broker or lender, private lender, hard-money lender, bird-dog, wholesaler, insurance agent, and commercial real estate broker.

While this is not meant to be an exhaustive list, and there may be others you need to rely on from time to time, this list should give you a pretty good idea of what types of professionals you need to be searching for. Chances are, you’re not good at all of these things, so it’s safe to say you will need to look for at least a few of these people.

Rely On The Experiences Of Others

Building a team is not something you will do all at once in a week or two. It will take time and perseverance, but it is not as difficult as it may appear. You can accomplish a great deal by asking for referrals from people you already know and trust.

Ask everyone you know about the people they do business with, and keep a written notebook of the referrals you get. I call these "warm contacts", and they are so much more useful than getting names from business cards or advertisements. Pay special attention to the names you get from other real estate investors. If your city has a Real Estate Investor’s Club, and you’re not already a member, join today! This will be a rich source of contacts, as well as local market information. You can’t afford not to be a member.

Once you have the name of a professional, an accountant for instance, you will want to meet and interview that person. Call them to schedule an appointment, and mention the name of the person who referred you. You may even want to invite them to lunch. Wherever you meet, it’s important to have a plan and know what you want to ask them ahead of time. Get to know them, and give them plenty of opportunity to talk about themselves and their method of doing business.

By all means don’t grill them or give them the third degree. You’ll find out all you need to know by simply having a conversation with them, and creatively weaving your important questions into the natural flow of the discussion. Write down the answers you find interesting, and refer back to them later when you’re deciding whether or not to hire the person. Remember to thank them for their time.

You Are The Judge And Jury

What criteria are you looking for? That depends on a few factors.

First, do you like the person? Life’s too short, and there are just too many other options, to waste time with someone you don’t want to be around.

Second, are they professional? Do they approach their business, and yours, with a serious attitude? Will they safeguard your time and money almost as if it were their own? Do you get the sense they are serious about their profession? Do they treat their business like a business and not a hobby. Incidentally, do you?

Finally, do they possess the experience, skill, and know-how you are looking for? The person who referred them to you can help answer that, but be sure to ask for additional referrals, and contact the referrals they give you. Ask plenty of questions and make sure they are fully capable of fulfilling your expectations.

Hire Them Right, And Enjoy The Journey

When you hire anybody, be it General Contractor or home inspector, make certain that you clearly define the scope of the relationship from the beginning, preferably in writing. Never enter into a business agreement involving the exchange of value (money or time) without a clear written agreement. This will save you all kinds of pain and aggravation later. The question isn’t whether someone will let you down, but when.<BR><BR>Just because you decide to put someone on your team today, doesn’t mean they will stay there forever. My team has evolved over time, and yours will too. As you work with people, you will notice things about them you didn’t see during the search process. Their methods may change over time, and your needs will change also. Don’t be afraid to end a partnership- after all, it’s a business relationship, not a marriage. Just be sure to honor all of your commitments.

Finally, enjoy the search process, and keep your eyes and ears open all the time. This can be the most exciting period in your investing life, and you never know when you are going to meet someone who would make a good fit on your team. I have found some of my most trusted advisors and professionals when I wasn’t looking, and when I least expected to find them. Many of them have subsequently become good friends.<BR><BR>Now, go make more offers!

Real Estate Investing: Inspection Check List

Imagine you shift in your new home and the roof starts leaking during the rain, or there are cracks on one of the walls of your living room. How does it feel? To avoid such incidents, it is always wise to inspect your real estate before plunking hundreds of dollars on buying it.

Doing the Inspection on Your Own:

It is better to do inspection on your own in order to get better price for the real estate. However, you need not learn the technicalities of building to check out errors. Anybody can make out if the home needs repairs, or there is something wrong with the drawers and sinks. Moreover, bring along a home inspector with you, inspecting on your own helps in negotiating with the sellers regarding the flaws.

Checklist for Home Inspection:

It is a good idea to keep a list of things that you have to check while looking around the house. Make notes of the things that are wrong. Do not depend on your memory in this case. There are innumerous things to check. You may find many flaws too. Your checklist and notes will help you during negotiation with the estate seller.

HUD’s Handbook for Minimum Property Standards:

HUD?s Handbook, illustrating the minimum housing property standards, comes in handy during inspection. You can order the handbook online. The HUD Direct Distribution System gives it free.

Inspection Checklist for Your Home:

? The position of the propane tank.
? Water logging spots around the house as well as the drainage system.
? Trees and other plants that are posing a hindrance.
? The condition of paint.
? The condition of roof, chimneys, and pipes.
? The alignment of doors and their locks.
? The windows panes and glass.
? Cracks in the foundation and the height to avoid the threat of harmful insects creeping inside the house. Cracks larger than 1/8 inch is a warning sign.
? Condition of the driveway.
? The supports of the porches, their paints and porch boards.
? The doors and ventilation of sheds.
? Electrical fixings.
? The sturdiness of fences.

Inside the rooms, you should inspect the walls, ceilings, and floor for visible cracks. Check the cabinets and bathrooms for drains, fireplace, faucets and sinks, and lightings. Check the garage too. Take your time and inspect every detail of the house. It is you, who have to live in it.

Remember, real estate inspection serves as a tool for negotiating the price with your seller. Do not sign any document before inspection. Dig out as many flaws as you can and present them before the seller to get a fair deal.

So, start pointing fingers!

Real Estate Investing ? Not A Solo Sport

Real Estate Investing is not a solo sport, but a team effort. It is so important to select your teammates well and constantly evaluate each player?s performance against the overall goal you are working toward.

The scout is the person who helps you locate the deal. This person knows what you are looking for and brings you the deals for evaluation. A scout can be a real estate agent, another investor, a reputable wholesaler or even consistent advertising medium. You should be prepared to compensate your scout and provide incentives to bring you great deals. If they aren?t giving them to you, they are giving them to someone who will compensate them accordingly. Be generous so that you will always be top of mind.

The next team member is an accountant. Your accountant should be someone who specializes in real estate practices. Ideally, they should own real estate themselves. This person helps you take advantage of the tax savings that comes along with buying real estate. We suggest that you interview several. A good accountant will save you much more than their hourly rate, so don?t be intimidated by high fees. They are well worth it if they can do the job properly.

You will need a good real estate attorney. Most people have a closing attorney. Remember that the closing attorney in a transaction works for the mortgage company ? not you. You will want an attorney you can depend on to represent your interests. They should be able to advise you with any title issues, assist you with land trust formation, help you with entity selection and provide general council for real estate transactions.

Home inspectors are worth their weight in gold. A good home inspector can help prevent you from purchasing a poor investment, give you a realistic picture of the repairs and give you a general picture of the costs required, as well as alert you to safety concerns. Our home inspector has saved us thousands of dollars by helping us chose not to invest in properties that required more renovation than we had estimated in the deal.

Once you have found a property, financing your real estate investment is the key to a successful real estate career. Helping you determine the best way to finance an investment based on your overall strategy is very important. The majority of the benefit of real estate comes from using leverage. With all the various types of loans available now, you will want a mortgage partner who understands investing, can help you determine which loans are best for a particular piece of property and provides long term strategies that will enhance your credit standing ? not hurt it.

As with any team, it takes a while to work together to make sure that you have all the right players. At times, you will find that players need to be traded and sometimes it is good to have alternates.

I encourage all of my investors to interview their teammates in advance. Have a series of questions prepared in advance and determine who you feel most comfortable with. We have found that it takes a couple of plays sometimes before they really understand you and your goals, so be patient. If however, you don?t feel confident with their ability ? trade them. This is your future ? not theirs.

About the Author:

Anne Lackey is a real estate investor in Atlanta and works with The REI Team at Solid Source Realty, Inc. http://www.theREIteam.com. She frequently helps other investors in their pursuit of financial freedom. She is the President of Solid Source Property Management, Inc. http://www.solidsourcepm.com

Real Estate Investing: Inspection Check List

Imagine you shift in your new home and the roof starts leaking during the rain, or there are cracks on one of the walls of your living room. How does it feel? To avoid such incidents, it is always wise to inspect your real estate before plunking hundreds of dollars on buying it.

Doing the Inspection on Your Own:

It is better to do inspection on your own in order to get better price for the real estate. However, you need not learn the technicalities of building to check out errors. Anybody can make out if the home needs repairs, or there is something wrong with the drawers and sinks. Moreover, bring along a home inspector with you, inspecting on your own helps in negotiating with the sellers regarding the flaws.

Checklist for Home Inspection:

It is a good idea to keep a list of things that you have to check while looking around the house. Make notes of the things that are wrong. Do not depend on your memory in this case. There are innumerous things to check. You may find many flaws too. Your checklist and notes will help you during negotiation with the estate seller.

HUD’s Handbook for Minimum Property Standards:

HUD?s Handbook, illustrating the minimum housing property standards, comes in handy during inspection. You can order the handbook online. The HUD Direct Distribution System gives it free.

Inspection Checklist for Your Home:

? The position of the propane tank.
? Water logging spots around the house as well as the drainage system.
? Trees and other plants that are posing a hindrance.
? The condition of paint.
? The condition of roof, chimneys, and pipes.
? The alignment of doors and their locks.
? The windows panes and glass.
? Cracks in the foundation and the height to avoid the threat of harmful insects creeping inside the house. Cracks larger than 1/8 inch is a warning sign.
? Condition of the driveway.
? The supports of the porches, their paints and porch boards.
? The doors and ventilation of sheds.
? Electrical fixings.
? The sturdiness of fences.

Inside the rooms, you should inspect the walls, ceilings, and floor for visible cracks. Check the cabinets and bathrooms for drains, fireplace, faucets and sinks, and lightings. Check the garage too. Take your time and inspect every detail of the house. It is you, who have to live in it.

Remember, real estate inspection serves as a tool for negotiating the price with your seller. Do not sign any document before inspection. Dig out as many flaws as you can and present them before the seller to get a fair deal.

So, start pointing fingers!

Real Estate Investing - Building Your Team

The story goes that legendary football coach Vince Lombardi once opened a team meeting by saying, "OK men, we’re going all the way back to the fundamentals." Holding up a football he began the day’s lesson, "This is a football."

After a brief pause, one of the players raised his hand. "Coach… you’re moving a little fast for me."

Whether this tale is true or not, it does illustrate an important point. Even the best need to begin with fundamentals, and nothing is more fundamental to your Real Estate Investing business than building a team of competent professionals you can rely on. With that in mind, let’s outline the steps necessary to put together a quality team.

Take A Personal Inventory

First, you need to decide what skills you possess, or more importantly, what skills you don’t possess. For instance, if you are a licensed Realtor or a CPA, you probably don’t need to find a Realtor or accountant to work with you. Likewise, an experienced General Contractor won’t need to find another GC for his or her team.

Begin by taking inventory of what you are good at, what you can handle in a pinch, and what you know you just can’t or don’t want to do. Write your list down. Now, think about the types of people available to help you with the areas you are weak in. Here’s a list of the various types of professionals I have used over the years.

Realtor, attorney, bookkeeper, accountant, general contractor, specialized sub-contractor (roofer, plumber, electrician, heating and cooling, landscaper, etc.), handyman, engineer or home inspector, banker, mortgage broker or lender, private lender, hard-money lender, bird-dog, wholesaler, insurance agent, and commercial real estate broker.

While this is not meant to be an exhaustive list, and there may be others you need to rely on from time to time, this list should give you a pretty good idea of what types of professionals you need to be searching for. Chances are, you’re not good at all of these things, so it’s safe to say you will need to look for at least a few of these people.

Rely On The Experiences Of Others

Building a team is not something you will do all at once in a week or two. It will take time and perseverance, but it is not as difficult as it may appear. You can accomplish a great deal by asking for referrals from people you already know and trust.

Ask everyone you know about the people they do business with, and keep a written notebook of the referrals you get. I call these "warm contacts", and they are so much more useful than getting names from business cards or advertisements. Pay special attention to the names you get from other real estate investors. If your city has a Real Estate Investor’s Club, and you’re not already a member, join today! This will be a rich source of contacts, as well as local market information. You can’t afford not to be a member.

Once you have the name of a professional, an accountant for instance, you will want to meet and interview that person. Call them to schedule an appointment, and mention the name of the person who referred you. You may even want to invite them to lunch. Wherever you meet, it’s important to have a plan and know what you want to ask them ahead of time. Get to know them, and give them plenty of opportunity to talk about themselves and their method of doing business.

By all means don’t grill them or give them the third degree. You’ll find out all you need to know by simply having a conversation with them, and creatively weaving your important questions into the natural flow of the discussion. Write down the answers you find interesting, and refer back to them later when you’re deciding whether or not to hire the person. Remember to thank them for their time.

You Are The Judge And Jury

What criteria are you looking for? That depends on a few factors.

First, do you like the person? Life’s too short, and there are just too many other options, to waste time with someone you don’t want to be around.

Second, are they professional? Do they approach their business, and yours, with a serious attitude? Will they safeguard your time and money almost as if it were their own? Do you get the sense they are serious about their profession? Do they treat their business like a business and not a hobby. Incidentally, do you?

Finally, do they possess the experience, skill, and know-how you are looking for? The person who referred them to you can help answer that, but be sure to ask for additional referrals, and contact the referrals they give you. Ask plenty of questions and make sure they are fully capable of fulfilling your expectations.

Hire Them Right, And Enjoy The Journey

When you hire anybody, be it General Contractor or home inspector, make certain that you clearly define the scope of the relationship from the beginning, preferably in writing. Never enter into a business agreement involving the exchange of value (money or time) without a clear written agreement. This will save you all kinds of pain and aggravation later. The question isn’t whether someone will let you down, but when.<BR><BR>Just because you decide to put someone on your team today, doesn’t mean they will stay there forever. My team has evolved over time, and yours will too. As you work with people, you will notice things about them you didn’t see during the search process. Their methods may change over time, and your needs will change also. Don’t be afraid to end a partnership- after all, it’s a business relationship, not a marriage. Just be sure to honor all of your commitments.

Finally, enjoy the search process, and keep your eyes and ears open all the time. This can be the most exciting period in your investing life, and you never know when you are going to meet someone who would make a good fit on your team. I have found some of my most trusted advisors and professionals when I wasn’t looking, and when I least expected to find them. Many of them have subsequently become good friends.<BR><BR>Now, go make more offers!

Real Estate Investing - Building Your Team

The story goes that legendary football coach Vince Lombardi once opened a team meeting by saying, "OK men, we’re going all the way back to the fundamentals." Holding up a football he began the day’s lesson, "This is a football."

After a brief pause, one of the players raised his hand. "Coach… you’re moving a little fast for me."

Whether this tale is true or not, it does illustrate an important point. Even the best need to begin with fundamentals, and nothing is more fundamental to your Real Estate Investing business than building a team of competent professionals you can rely on. With that in mind, let’s outline the steps necessary to put together a quality team.

Take A Personal Inventory

First, you need to decide what skills you possess, or more importantly, what skills you don’t possess. For instance, if you are a licensed Realtor or a CPA, you probably don’t need to find a Realtor or accountant to work with you. Likewise, an experienced General Contractor won’t need to find another GC for his or her team.

Begin by taking inventory of what you are good at, what you can handle in a pinch, and what you know you just can’t or don’t want to do. Write your list down. Now, think about the types of people available to help you with the areas you are weak in. Here’s a list of the various types of professionals I have used over the years.

Realtor, attorney, bookkeeper, accountant, general contractor, specialized sub-contractor (roofer, plumber, electrician, heating and cooling, landscaper, etc.), handyman, engineer or home inspector, banker, mortgage broker or lender, private lender, hard-money lender, bird-dog, wholesaler, insurance agent, and commercial real estate broker.

While this is not meant to be an exhaustive list, and there may be others you need to rely on from time to time, this list should give you a pretty good idea of what types of professionals you need to be searching for. Chances are, you’re not good at all of these things, so it’s safe to say you will need to look for at least a few of these people.

Rely On The Experiences Of Others

Building a team is not something you will do all at once in a week or two. It will take time and perseverance, but it is not as difficult as it may appear. You can accomplish a great deal by asking for referrals from people you already know and trust.

Ask everyone you know about the people they do business with, and keep a written notebook of the referrals you get. I call these "warm contacts", and they are so much more useful than getting names from business cards or advertisements. Pay special attention to the names you get from other real estate investors. If your city has a Real Estate Investor’s Club, and you’re not already a member, join today! This will be a rich source of contacts, as well as local market information. You can’t afford not to be a member.

Once you have the name of a professional, an accountant for instance, you will want to meet and interview that person. Call them to schedule an appointment, and mention the name of the person who referred you. You may even want to invite them to lunch. Wherever you meet, it’s important to have a plan and know what you want to ask them ahead of time. Get to know them, and give them plenty of opportunity to talk about themselves and their method of doing business.

By all means don’t grill them or give them the third degree. You’ll find out all you need to know by simply having a conversation with them, and creatively weaving your important questions into the natural flow of the discussion. Write down the answers you find interesting, and refer back to them later when you’re deciding whether or not to hire the person. Remember to thank them for their time.

You Are The Judge And Jury

What criteria are you looking for? That depends on a few factors.

First, do you like the person? Life’s too short, and there are just too many other options, to waste time with someone you don’t want to be around.

Second, are they professional? Do they approach their business, and yours, with a serious attitude? Will they safeguard your time and money almost as if it were their own? Do you get the sense they are serious about their profession? Do they treat their business like a business and not a hobby. Incidentally, do you?

Finally, do they possess the experience, skill, and know-how you are looking for? The person who referred them to you can help answer that, but be sure to ask for additional referrals, and contact the referrals they give you. Ask plenty of questions and make sure they are fully capable of fulfilling your expectations.

Hire Them Right, And Enjoy The Journey

When you hire anybody, be it General Contractor or home inspector, make certain that you clearly define the scope of the relationship from the beginning, preferably in writing. Never enter into a business agreement involving the exchange of value (money or time) without a clear written agreement. This will save you all kinds of pain and aggravation later. The question isn’t whether someone will let you down, but when.<BR><BR>Just because you decide to put someone on your team today, doesn’t mean they will stay there forever. My team has evolved over time, and yours will too. As you work with people, you will notice things about them you didn’t see during the search process. Their methods may change over time, and your needs will change also. Don’t be afraid to end a partnership- after all, it’s a business relationship, not a marriage. Just be sure to honor all of your commitments.

Finally, enjoy the search process, and keep your eyes and ears open all the time. This can be the most exciting period in your investing life, and you never know when you are going to meet someone who would make a good fit on your team. I have found some of my most trusted advisors and professionals when I wasn’t looking, and when I least expected to find them. Many of them have subsequently become good friends.<BR><BR>Now, go make more offers!