Create Your Real Estate Investment Dream Team
When you’re first getting involved in real estate investment, it can be tough to see and understand all of the moving parts at the same time. Between completing paperwork, viewing properties, keeping abreast of local markets, watching housing trends, and determining the most profitable investments, it all gets pretty overwhelming. This is why most seasoned real estate investors create an investment “dream team” to help them navigate all the ins and outs. Doing so helps you keep everything under control and make smart decisions.
As the famous John Donne poem says, “no man is an island.” There’s nothing wrong with admitting you need help. In fact, in order to build a successful investment profile, it’s essential to have people on your side to support and help you. By hand-selecting people whose work you trust, you can create a formidable team that’s efficient, professional, and smart. Who should you work with to build the strongest possible team?
We suggest finding a real estate agent you can build a rapport with and who understands your needs and preferences. They should know your preferred area and always have their ear to the ground. A qualified property manager is another must. These are the people who will help you find good tenants for your buildings (both business and residential), as well as handle background checks and day-to-day management duties. You may also want to find attorneys and CPAs you trust to deal with the paperwork and finances, as well as create a list of trusted contractors who can improve or repair your properties when necessary.
After you’ve vetted and selected your core team, you can rely on them for additional referrals. The real estate community offers its own network and connections, which will in turn give you the added benefit of any additional aid you might require. Together, you’ll present a united front that will do well for you and your business.