That’s right, Real Estate Investing is a team sport, and if you want to be successful, you will have to build a strong team. No matter how badly you want to, you can not do everything yourself. You just will not have the time or expertise.
As new Real Estate investor you need to begin thinking about who you want on your team. Get referrals from other Real Estate Investors and Real Estate Mentors. It is best to select people who have some type of Real Estate investing experience.
Also, it is extremely important to not have teammates who tell you this can not be done. You need only supportive team members. Surround yourself with link-minded people; negativity will get you no where.
You will build your Real Estate Investing team over time, not overnight. Sometimes it will be by trial and error. Yes, in some instances you will have to pay your teammates, but if you have chosen wisely you will get your investment back many times over.
To build a successful team you need to build a relationship with many different individuals. Choose your teammates wisely and they will help you reach the Real Estate Investing dreams that you so desire.
Your Team Should Include…
Your Spouse/Significant Other
Support at home is critical.
Your Local REIA
In order to associate with like-minded Real Estate Investors and local Entrepreneurs, it is essential that you find a REIA to attend in order to network with fellow Investors.
Other Real Estate Investors
Other Investors are a major player on your team. You will seek their advice or input often and they will be able to provide referrals for many of your other teammates.
Real Estate Attorney
Select an attorney that is familiar with creative Real Estate Investing.
Accountant
You want a certified professional keeping your books, preparing your financial statements, and advising you on tax issues. Make sure they also understand creative Real Estate Investing.
Title Insurance Company
Title searches and closing are often done by Title Companies. Note that in some areas it is common for attorneys to do these functions.
Insurance Agent
Insurance will be needed for all properties that you buy and hold for whatever reason. Not to mention liability insurance. You will also probably want an all-encompassing umbrella policy to protect you and your business. Again select an agent that is familiar with what you do.
Real Estate Agents
Yes, you want Investor friendly Real Estate Agents on your team. It will probably take some time to find a few, but they are worth their weight in gold. Make sure the relationship will be mutually beneficial.
Mortgage Broker
If you need to help a tenant owner get financing, a mortgage broker can come in handy. They can start early in the process and try to get your tenant owners a mortgage to cash you out. Have several different companies at hand. Get referrals and stay on top of them throughout the loan process.
Inspector
Eventually you will become pretty good at inspecting structures, and systems but until then use a professional. A wrong evaluation can cost you thousands.
Licensed Contractor
This is the best person to estimate repair costs. While an Inspector can spot things that need to be repaired, your contractor can give you accurate labor and material estimates.
Appraiser
Again, you will eventually get very good at this, but have an appraiser on your team as you will need help in the beginning.
Notary Public (Mobile)
Some documents have to be notarized and you do not want to wait until the next day when a Motivated Seller is ready to sign your contract. Having a mobile notary on your team allows someone to meet you right at a property.
A Few Others to Take Care of:
? General Handyperson Work
? Demo and/or Hauling Junk
? Plumbing
? Electric
? Termites/Pest Control
? Roofer
? Painter
? Carpet/Flooring
I think you get the point. And if not, do not worry because once you have a Real Estate deal in hand, you will quickly figure out if there are others that you need.
Article Tags: estate, real, team
  |
Tags: Accountant, Creative Real Estate, Dreams, Fellow Investors, Financial Statements, Instances, Local Entrepreneurs, Nbsp, Real Estate Investing, Real Estate Investor, Real Estate Investors, Real Estate Mentors, Referrals, Reia, Successful Team, Supportive Team, Team Members, Team Sport, Teammates, Trial And Error
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Real Estate Investing - It Takes A Team
|
| Submitted By: Chris Parks |
| |
| |
|
That’s right, Real Estate Investing is a team sport, and if you want to be successful, you will have to build a strong team. No matter how badly you want to, you can not do everything yourself. You just will not have the time or expertise.
As new Real Estate investor you need to begin thinking about who you want on your team. Get referrals from other Real Estate Investors and Real Estate Mentors. It is best to select people who have some type of Real Estate investing experience.
Also, it is extremely important to not have teammates who tell you this can not be done. You need only supportive team members. Surround yourself with link-minded people; negativity will get you no where.
You will build your Real Estate Investing team over time, not overnight. Sometimes it will be by trial and error. Yes, in some instances you will have to pay your teammates, but if you have chosen wisely you will get your investment back many times over.
To build a successful team you need to build a relationship with many different individuals. Choose your teammates wisely and they will help you reach the Real Estate Investing dreams that you so desire.
Your Team Should Include…
Your Spouse/Significant Other
Support at home is critical.
Your Local REIA
In order to associate with like-minded Real Estate Investors and local Entrepreneurs, it is essential that you find a REIA to attend in order to network with fellow Investors.
Other Real Estate Investors
Other Investors are a major player on your team. You will seek their advice or input often and they will be able to provide referrals for many of your other teammates.
Real Estate Attorney
Select an attorney that is familiar with creative Real Estate Investing.
Accountant
You want a certified professional keeping your books, preparing your financial statements, and advising you on tax issues. Make sure they also understand creative Real Estate Investing.
Title Insurance Company
Title searches and closing are often done by Title Companies. Note that in some areas it is common for attorneys to do these functions.
Insurance Agent
Insurance will be needed for all properties that you buy and hold for whatever reason. Not to mention liability insurance. You will also probably want an all-encompassing umbrella policy to protect you and your business. Again select an agent that is familiar with what you do.
Real Estate Agents
Yes, you want Investor friendly Real Estate Agents on your team. It will probably take some time to find a few, but they are worth their weight in gold. Make sure the relationship will be mutually beneficial.
Mortgage Broker
If you need to help a tenant owner get financing, a mortgage broker can come in handy. They can start early in the process and try to get your tenant owners a mortgage to cash you out. Have several different companies at hand. Get referrals and stay on top of them throughout the loan process.
Inspector
Eventually you will become pretty good at inspecting structures, and systems but until then use a professional. A wrong evaluation can cost you thousands.
Licensed Contractor
This is the best person to estimate repair costs. While an Inspector can spot things that need to be repaired, your contractor can give you accurate labor and material estimates.
Appraiser
Again, you will eventually get very good at this, but have an appraiser on your team as you will need help in the beginning.
Notary Public (Mobile)
Some documents have to be notarized and you do not want to wait until the next day when a Motivated Seller is ready to sign your contract. Having a mobile notary on your team allows someone to meet you right at a property.
A Few Others to Take Care of:
? General Handyperson Work
? Demo and/or Hauling Junk
? Plumbing
? Electric
? Termites/Pest Control
? Roofer
? Painter
? Carpet/Flooring
I think you get the point. And if not, do not worry because once you have a Real Estate deal in hand, you will quickly figure out if there are others that you need.
Article Tags: estate, real, team
| |
Tags: Accountant, Creative Real Estate, Dreams, Fellow Investors, Financial Statements, Instances, Local Entrepreneurs, Nbsp, Real Estate Investing, Real Estate Investor, Real Estate Investors, Real Estate Mentors, Referrals, Reia, Successful Team, Supportive Team, Team Members, Team Sport, Teammates, Trial And Error
| |
Real Estate Investing - It Takes A Team
|
| Submitted By: Chris Parks |
| |
| |
|
That’s right, Real Estate Investing is a team sport, and if you want to be successful, you will have to build a strong team. No matter how badly you want to, you can not do everything yourself. You just will not have the time or expertise.
As new Real Estate investor you need to begin thinking about who you want on your team. Get referrals from other Real Estate Investors and Real Estate Mentors. It is best to select people who have some type of Real Estate investing experience.
Also, it is extremely important to not have teammates who tell you this can not be done. You need only supportive team members. Surround yourself with link-minded people; negativity will get you no where.
You will build your Real Estate Investing team over time, not overnight. Sometimes it will be by trial and error. Yes, in some instances you will have to pay your teammates, but if you have chosen wisely you will get your investment back many times over.
To build a successful team you need to build a relationship with many different individuals. Choose your teammates wisely and they will help you reach the Real Estate Investing dreams that you so desire.
Your Team Should Include…
Your Spouse/Significant Other
Support at home is critical.
Your Local REIA
In order to associate with like-minded Real Estate Investors and local Entrepreneurs, it is essential that you find a REIA to attend in order to network with fellow Investors.
Other Real Estate Investors
Other Investors are a major player on your team. You will seek their advice or input often and they will be able to provide referrals for many of your other teammates.
Real Estate Attorney
Select an attorney that is familiar with creative Real Estate Investing.
Accountant
You want a certified professional keeping your books, preparing your financial statements, and advising you on tax issues. Make sure they also understand creative Real Estate Investing.
Title Insurance Company
Title searches and closing are often done by Title Companies. Note that in some areas it is common for attorneys to do these functions.
Insurance Agent
Insurance will be needed for all properties that you buy and hold for whatever reason. Not to mention liability insurance. You will also probably want an all-encompassing umbrella policy to protect you and your business. Again select an agent that is familiar with what you do.
Real Estate Agents
Yes, you want Investor friendly Real Estate Agents on your team. It will probably take some time to find a few, but they are worth their weight in gold. Make sure the relationship will be mutually beneficial.
Mortgage Broker
If you need to help a tenant owner get financing, a mortgage broker can come in handy. They can start early in the process and try to get your tenant owners a mortgage to cash you out. Have several different companies at hand. Get referrals and stay on top of them throughout the loan process.
Inspector
Eventually you will become pretty good at inspecting structures, and systems but until then use a professional. A wrong evaluation can cost you thousands.
Licensed Contractor
This is the best person to estimate repair costs. While an Inspector can spot things that need to be repaired, your contractor can give you accurate labor and material estimates.
Appraiser
Again, you will eventually get very good at this, but have an appraiser on your team as you will need help in the beginning.
Notary Public (Mobile)
Some documents have to be notarized and you do not want to wait until the next day when a Motivated Seller is ready to sign your contract. Having a mobile notary on your team allows someone to meet you right at a property.
A Few Others to Take Care of:
? General Handyperson Work
? Demo and/or Hauling Junk
? Plumbing
? Electric
? Termites/Pest Control
? Roofer
? Painter
? Carpet/Flooring
I think you get the point. And if not, do not worry because once you have a Real Estate deal in hand, you will quickly figure out if there are others that you need.
Article Tags: estate, real, team
| |
Tags: Accountant, Creative Real Estate, Dreams, Fellow Investors, Financial Statements, Instances, Local Entrepreneurs, Nbsp, Real Estate Investing, Real Estate Investor, Real Estate Investors, Real Estate Mentors, Referrals, Reia, Successful Team, Supportive Team, Team Members, Team Sport, Teammates, Trial And Error
The first step to finding private money for real estate investing is to look at your own funds, like retirement and savings. Next, you want to find out if anyone in your family has funds they could loan you. I?ve already written articles on those two sources. Today, I want you to consider expanding your search radius.
A primary source of private money for real estate investing in my own experience has been friends, professional relationships, and casual contacts. These are the people you rub shoulders with day in and day out, and these are the people you should be prepared to talk to about real estate investing.
How can you prepare? Glad you asked.
These folks are the ones you will need to share your elevator speech with. What?s an elevator speech, you ask? I?ve have written another article entitled ?Private Money For Real Estate Investing ? Your Elevator Speech? that goes into great detail. You can find it elsewhere on this site? just look on my author page.
To recap, an elevator speech is a short, pithy explanation of your investing activities, as well as how and why you use private money for real estate investing. It?s not designed to tell them everything, only to give them a quick overview, and whet their appetite for more.
That?s why you also want to be prepared to close them on a follow-up appointment to share more information. Either a one-on-one, like a lunch, or a seminar setting will work. Either way, if possible you want to share your elevator speech, get them interested, and close the deal with an appointment to tell them more.
Who should you be looking for? Anyone and everyone you know and have regular contact with. Don?t pre-judge just because you think they have no money, or don?t believe they would be interested in loaning you private money for real estate investing.
Professionals like doctors, attorneys, and accountants often have money to loan, or know others who do. Ask for referrals. Don?t limit yourself to only professionals? your friends can be a good source of private money for real estate investing. People you see daily at the stores and businesses you frequent are also possibilities. In short, anyone you know and who knows you.
Starting the conversation is best accomplished with a question. ?You know Mike, I was wondering,? you say, ?have you ever considered getting involved in real estate investing?? This opens the door, now all you need to do is walk through it!
These are just a few ideas on finding private money for real estate investing. For much more try http://www.private-money-real-estate-investing.com.
Need a quick jumpstart for Beginning Real Estate Investing? Tom Dunn writes “DealFiles - Real Estate Investor Stories”… stories of real investors just like you and their real deals. Why not check it out right now? It’s FREE! You are welcome to share this report, unedited and in it’s entirety, with anyone you like. This text, and all live text links, must remain intact. ? 2007 by Tom Dunn.
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Tags: Accountants, Appetite, Appointment, Attorneys, Casual Contacts, Doctors, Elevator Speech, Finding Money, Lunch, Money Investing, Money Loan, Money To Loan, Primary Source, Private Money, Professional Relationships, Real Estate Investing, Referrals, Retirement, Search Radius, Shoulders
| |
Real Estate Investing - It Takes A Team
|
| Submitted By: Chris Parks |
| |
| |
|
That’s right, Real Estate Investing is a team sport, and if you want to be successful, you will have to build a strong team. No matter how badly you want to, you can not do everything yourself. You just will not have the time or expertise.
As new Real Estate investor you need to begin thinking about who you want on your team. Get referrals from other Real Estate Investors and Real Estate Mentors. It is best to select people who have some type of Real Estate investing experience.
Also, it is extremely important to not have teammates who tell you this can not be done. You need only supportive team members. Surround yourself with link-minded people; negativity will get you no where.
You will build your Real Estate Investing team over time, not overnight. Sometimes it will be by trial and error. Yes, in some instances you will have to pay your teammates, but if you have chosen wisely you will get your investment back many times over.
To build a successful team you need to build a relationship with many different individuals. Choose your teammates wisely and they will help you reach the Real Estate Investing dreams that you so desire.
Your Team Should Include…
Your Spouse/Significant Other
Support at home is critical.
Your Local REIA
In order to associate with like-minded Real Estate Investors and local Entrepreneurs, it is essential that you find a REIA to attend in order to network with fellow Investors.
Other Real Estate Investors
Other Investors are a major player on your team. You will seek their advice or input often and they will be able to provide referrals for many of your other teammates.
Real Estate Attorney
Select an attorney that is familiar with creative Real Estate Investing.
Accountant
You want a certified professional keeping your books, preparing your financial statements, and advising you on tax issues. Make sure they also understand creative Real Estate Investing.
Title Insurance Company
Title searches and closing are often done by Title Companies. Note that in some areas it is common for attorneys to do these functions.
Insurance Agent
Insurance will be needed for all properties that you buy and hold for whatever reason. Not to mention liability insurance. You will also probably want an all-encompassing umbrella policy to protect you and your business. Again select an agent that is familiar with what you do.
Real Estate Agents
Yes, you want Investor friendly Real Estate Agents on your team. It will probably take some time to find a few, but they are worth their weight in gold. Make sure the relationship will be mutually beneficial.
Mortgage Broker
If you need to help a tenant owner get financing, a mortgage broker can come in handy. They can start early in the process and try to get your tenant owners a mortgage to cash you out. Have several different companies at hand. Get referrals and stay on top of them throughout the loan process.
Inspector
Eventually you will become pretty good at inspecting structures, and systems but until then use a professional. A wrong evaluation can cost you thousands.
Licensed Contractor
This is the best person to estimate repair costs. While an Inspector can spot things that need to be repaired, your contractor can give you accurate labor and material estimates.
Appraiser
Again, you will eventually get very good at this, but have an appraiser on your team as you will need help in the beginning.
Notary Public (Mobile)
Some documents have to be notarized and you do not want to wait until the next day when a Motivated Seller is ready to sign your contract. Having a mobile notary on your team allows someone to meet you right at a property.
A Few Others to Take Care of:
? General Handyperson Work
? Demo and/or Hauling Junk
? Plumbing
? Electric
? Termites/Pest Control
? Roofer
? Painter
? Carpet/Flooring
I think you get the point. And if not, do not worry because once you have a Real Estate deal in hand, you will quickly figure out if there are others that you need.
Article Tags: estate, real, team
| |
Tags: Accountant, Creative Real Estate, Dreams, Fellow Investors, Financial Statements, Instances, Local Entrepreneurs, Nbsp, Real Estate Investing, Real Estate Investor, Real Estate Investors, Real Estate Mentors, Referrals, Reia, Successful Team, Supportive Team, Team Members, Team Sport, Teammates, Trial And Error
The first step to finding private money for real estate investing is to look at your own funds, like retirement and savings. Next, you want to find out if anyone in your family has funds they could loan you. I?ve already written articles on those two sources. Today, I want you to consider expanding your search radius.
A primary source of private money for real estate investing in my own experience has been friends, professional relationships, and casual contacts. These are the people you rub shoulders with day in and day out, and these are the people you should be prepared to talk to about real estate investing.
How can you prepare? Glad you asked.
These folks are the ones you will need to share your elevator speech with. What?s an elevator speech, you ask? I?ve have written another article entitled ?Private Money For Real Estate Investing ? Your Elevator Speech? that goes into great detail. You can find it elsewhere on this site? just look on my author page.
To recap, an elevator speech is a short, pithy explanation of your investing activities, as well as how and why you use private money for real estate investing. It?s not designed to tell them everything, only to give them a quick overview, and whet their appetite for more.
That?s why you also want to be prepared to close them on a follow-up appointment to share more information. Either a one-on-one, like a lunch, or a seminar setting will work. Either way, if possible you want to share your elevator speech, get them interested, and close the deal with an appointment to tell them more.
Who should you be looking for? Anyone and everyone you know and have regular contact with. Don?t pre-judge just because you think they have no money, or don?t believe they would be interested in loaning you private money for real estate investing.
Professionals like doctors, attorneys, and accountants often have money to loan, or know others who do. Ask for referrals. Don?t limit yourself to only professionals? your friends can be a good source of private money for real estate investing. People you see daily at the stores and businesses you frequent are also possibilities. In short, anyone you know and who knows you.
Starting the conversation is best accomplished with a question. ?You know Mike, I was wondering,? you say, ?have you ever considered getting involved in real estate investing?? This opens the door, now all you need to do is walk through it!
These are just a few ideas on finding private money for real estate investing. For much more try http://www.private-money-real-estate-investing.com.
Need a quick jumpstart for Beginning Real Estate Investing? Tom Dunn writes “DealFiles - Real Estate Investor Stories”… stories of real investors just like you and their real deals. Why not check it out right now? It’s FREE! You are welcome to share this report, unedited and in it’s entirety, with anyone you like. This text, and all live text links, must remain intact. ? 2007 by Tom Dunn.
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|
Tags: Accountants, Appetite, Appointment, Attorneys, Casual Contacts, Doctors, Elevator Speech, Finding Money, Lunch, Money Investing, Money Loan, Money To Loan, Primary Source, Private Money, Professional Relationships, Real Estate Investing, Referrals, Retirement, Search Radius, Shoulders
As an investor, you should always be on the lookout for real estate investing opportunities.
With real estate there can be some great ones, so it is always best to be on the look out for them.
Every once in awhile, these opportunities might come your way easily, but for the most part, you must look for them. There is much more to real estate investing opportunities than a low purchase price.
Too many times have investors made this assumption only to find the hard way that an easy purchase is not always an easy sale. Knowing some tips to recognize real estate investing opportunities will help make your investing much easier.
Property worth is one of the first ways of recognizing real estate investing opportunities. You don?t have to hire an appraiser or a realtor to assist you in figuring out the worth of a real estate property. You can use some of the same techniques these professional use to determine property worth. Look up the price of similar properties that have recently sold. Between three and five properties will give you a good idea of the property worth.
Once you have determined the property worth, the next indicator of real estate investing opportunities is the amount of repairs the property needs. It doesn?t matter if you can purchase a property for a penny. If it costs need $50,000 in repairs and similar properties in good condition have sold for $40,000, then it should not be deemed as one of your real estate investing opportunities.
You can find out the repairs that are needed in one of two ways. The first way is to ask the seller what repairs are needed. Some sellers will be completely honest, some will not. The second way is to use a bonded contractor. You can get referrals for contractors from other investors or respected realtors.
The amount you can purchase a property for is perhaps the second most important factor in recognizing real estate investing opportunities. The lower you can purchase the property for, the better an opportunity it is. In general, the best real estate investing opportunities are those which you can purchase a home for 20% or more below market value. If you can negotiate even lower, that?s better.
At this point you can use an appraiser to tell you the value of the property. Any repairs should be made before the appraiser reviews the home. The object is to have the appraisals as high as possible to help you set your selling price. The selling price, relative to the purchase price, is the most important factor you can use to recognize real estate investing opportunities. The higher you can sell the property for, the better an opportunity it is.
There is a fair amount of work required in recognizing real estate investing opportunities. The first time you go through the process, it might be difficult and take what seems like a long time. As you get more experience you will learn to recognize an opportunity much easily and in a shorter amount of time. This, of course, will come with experience. You might make a few mistakes in the beginning, but these mistakes bring knowledge that will only make you better at picking out real estate investing opportunities.
About the Author:
Claim a free e-book that will show you a system used to control $4.1million worth of real estate for just $22 - and you can follow this system to do the same. Comes with resale rights from: Free Real Estate Fortunes Ebook
Tags: Assumption, Great Real Estate, Investing, Investor, Investors, Lookout, Property Worth, Real Estate Property, Realtor, Realtors, Referrals, Two Ways
The first step to finding private money for real estate investing is to look at your own funds, like retirement and savings. Next, you want to find out if anyone in your family has funds they could loan you. I?ve already written articles on those two sources. Today, I want you to consider expanding your search radius.
A primary source of private money for real estate investing in my own experience has been friends, professional relationships, and casual contacts. These are the people you rub shoulders with day in and day out, and these are the people you should be prepared to talk to about real estate investing.
How can you prepare? Glad you asked.
These folks are the ones you will need to share your elevator speech with. What?s an elevator speech, you ask? I?ve have written another article entitled ?Private Money For Real Estate Investing ? Your Elevator Speech? that goes into great detail. You can find it elsewhere on this site? just look on my author page.
To recap, an elevator speech is a short, pithy explanation of your investing activities, as well as how and why you use private money for real estate investing. It?s not designed to tell them everything, only to give them a quick overview, and whet their appetite for more.
That?s why you also want to be prepared to close them on a follow-up appointment to share more information. Either a one-on-one, like a lunch, or a seminar setting will work. Either way, if possible you want to share your elevator speech, get them interested, and close the deal with an appointment to tell them more.
Who should you be looking for? Anyone and everyone you know and have regular contact with. Don?t pre-judge just because you think they have no money, or don?t believe they would be interested in loaning you private money for real estate investing.
Professionals like doctors, attorneys, and accountants often have money to loan, or know others who do. Ask for referrals. Don?t limit yourself to only professionals? your friends can be a good source of private money for real estate investing. People you see daily at the stores and businesses you frequent are also possibilities. In short, anyone you know and who knows you.
Starting the conversation is best accomplished with a question. ?You know Mike, I was wondering,? you say, ?have you ever considered getting involved in real estate investing?? This opens the door, now all you need to do is walk through it!
These are just a few ideas on finding private money for real estate investing. For much more try http://www.private-money-real-estate-investing.com.
Need a quick jumpstart for Beginning Real Estate Investing? Tom Dunn writes “DealFiles - Real Estate Investor Stories”… stories of real investors just like you and their real deals. Why not check it out right now? It’s FREE! You are welcome to share this report, unedited and in it’s entirety, with anyone you like. This text, and all live text links, must remain intact. ? 2007 by Tom Dunn.
|
|
Tags: Accountants, Appetite, Appointment, Attorneys, Casual Contacts, Doctors, Elevator Speech, Finding Money, Lunch, Money Investing, Money Loan, Money To Loan, Primary Source, Private Money, Professional Relationships, Real Estate Investing, Referrals, Retirement, Search Radius, Shoulders
| |
Real Estate Investing - It Takes A Team
|
| Submitted By: Chris Parks |
| |
| |
|
That’s right, Real Estate Investing is a team sport, and if you want to be successful, you will have to build a strong team. No matter how badly you want to, you can not do everything yourself. You just will not have the time or expertise.
As new Real Estate investor you need to begin thinking about who you want on your team. Get referrals from other Real Estate Investors and Real Estate Mentors. It is best to select people who have some type of Real Estate investing experience.
Also, it is extremely important to not have teammates who tell you this can not be done. You need only supportive team members. Surround yourself with link-minded people; negativity will get you no where.
You will build your Real Estate Investing team over time, not overnight. Sometimes it will be by trial and error. Yes, in some instances you will have to pay your teammates, but if you have chosen wisely you will get your investment back many times over.
To build a successful team you need to build a relationship with many different individuals. Choose your teammates wisely and they will help you reach the Real Estate Investing dreams that you so desire.
Your Team Should Include…
Your Spouse/Significant Other
Support at home is critical.
Your Local REIA
In order to associate with like-minded Real Estate Investors and local Entrepreneurs, it is essential that you find a REIA to attend in order to network with fellow Investors.
Other Real Estate Investors
Other Investors are a major player on your team. You will seek their advice or input often and they will be able to provide referrals for many of your other teammates.
Real Estate Attorney
Select an attorney that is familiar with creative Real Estate Investing.
Accountant
You want a certified professional keeping your books, preparing your financial statements, and advising you on tax issues. Make sure they also understand creative Real Estate Investing.
Title Insurance Company
Title searches and closing are often done by Title Companies. Note that in some areas it is common for attorneys to do these functions.
Insurance Agent
Insurance will be needed for all properties that you buy and hold for whatever reason. Not to mention liability insurance. You will also probably want an all-encompassing umbrella policy to protect you and your business. Again select an agent that is familiar with what you do.
Real Estate Agents
Yes, you want Investor friendly Real Estate Agents on your team. It will probably take some time to find a few, but they are worth their weight in gold. Make sure the relationship will be mutually beneficial.
Mortgage Broker
If you need to help a tenant owner get financing, a mortgage broker can come in handy. They can start early in the process and try to get your tenant owners a mortgage to cash you out. Have several different companies at hand. Get referrals and stay on top of them throughout the loan process.
Inspector
Eventually you will become pretty good at inspecting structures, and systems but until then use a professional. A wrong evaluation can cost you thousands.
Licensed Contractor
This is the best person to estimate repair costs. While an Inspector can spot things that need to be repaired, your contractor can give you accurate labor and material estimates.
Appraiser
Again, you will eventually get very good at this, but have an appraiser on your team as you will need help in the beginning.
Notary Public (Mobile)
Some documents have to be notarized and you do not want to wait until the next day when a Motivated Seller is ready to sign your contract. Having a mobile notary on your team allows someone to meet you right at a property.
A Few Others to Take Care of:
? General Handyperson Work
? Demo and/or Hauling Junk
? Plumbing
? Electric
? Termites/Pest Control
? Roofer
? Painter
? Carpet/Flooring
I think you get the point. And if not, do not worry because once you have a Real Estate deal in hand, you will quickly figure out if there are others that you need.
Article Tags: estate, real, team
| |
Tags: Accountant, Creative Real Estate, Dreams, Fellow Investors, Financial Statements, Instances, Local Entrepreneurs, Nbsp, Real Estate Investing, Real Estate Investor, Real Estate Investors, Real Estate Mentors, Referrals, Reia, Successful Team, Supportive Team, Team Members, Team Sport, Teammates, Trial And Error
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