There are several important things you need to be successful in real estate investing, one of which is a great team. I’m going to talk briefly about who should be on the winning team:
1. Your Mentor
Every successful entrepreneur needs a good mentor. A guide. By training under the watchful eye of one smarter then us, we can only get smarter. Start at your local investment club
2. Mortgage Broker
You want someone who has the experience of working with other investors. They need to be creative and smart!
3. Real Estate Attorney
It is really important to have someone on the team who can go through contracts, and who knows the legalities of all your moves.
4. Escrow Officer or Title Rep
Having a good one on the team helps to close deals that much quicker. You always want people looking out for YOUR interests.
5. Accountant
Preferably a CPA (Certified Public Accountant). Your numbers guy should also be well aware of the ins and outs of real estate. Come tax time, this is the man to help you through the write-offs!
6. Insurance Agent
It is always better having an insurance rep that is looking out for you when things hit the fan.
7. Contractor
The good contractor seems like the hardest one to find, but can often make or break your profit margin. You want someone who gets things done on time and under budget!
8. Supportive Family & Friends
Having the support and backing of loved ones is important in any endeavor.
Other Optional Team Members:
9. Realtor
Someone keeping an eye out for you
10. Property Manager
Someone to watch over your investments
11. Great Handyman
Someone to take care of the little things that come up on a daily basis.
Assembling the team will not happen overnight, but once together, they will give you the backing and help you’ll need to make your real estate investing dreams come true.