| I didn't understand the concept of a real estate | | | | accurate valuation of a property, but they can |
| team at first, so I had a hard time with real | | | | also suggest ways in which you can most |
| estate investment. I tended to be a "lone wolf," | | | | efficiently raise the value of a property. Find |
| trying to do too much myself. I have since | | | | someone that will talk to you. |
| learned that in real estate, you need a team of | | | | 6. An inspector. Some states make it too easy to |
| people you can trust and rely on. Here are some | | | | become an inspector with little experience. You |
| possible team members, and what they need to | | | | may want to find one that is or used to be a |
| be on the team. | | | | contractor, so he can find the problems AND give |
| 1. A mortgage broker or banker. A broker can | | | | you some idea of the cost of repairs. |
| offer many options, but a banker can make the | | | | 7. An insurance agent. Good ones will understand |
| loan decision. They each have their advantages, | | | | what you want, and find ways to save you |
| and you could use both on your team. In either | | | | money. Insure all your properties with one agent, |
| case it's important they understand what you | | | | and you're likely to have discounts available, aas |
| want (fast closings, lower interest, corporate | | | | well as better service. |
| loans?) | | | | 8. An escrow officer. They'll usually be with a |
| 2. An accountant or bookkeeper. To keep proper | | | | closing company. Find someone that's efficient, |
| books for real estate investments is getting more | | | | and can explain things clearly to both sides. If he |
| complicated with all the tax-law changes. Find | | | | is confused by a slightly creative contract, he |
| someone that understands the law, and | | | | should educate easily or be replaced. |
| understands what you want. | | | | 9. A cleaning person or crew. When you have a |
| 3. A real estate attorney. Find someone familiar | | | | trusted person or crew ready, it means a fast |
| with the laws and legal customs of your area, and | | | | turn-around when you buy a rental or rehab |
| that has experience with the type of deals you | | | | project. |
| intend to do (If you are buying rentals, she should | | | | 10. Rental property manager. Be certain that the |
| be familiar with doing evictions, for example.) | | | | company you hire has exerience, is responsive, |
| 4. A good real estate agent. An agent with | | | | and will have time when you call. Good property |
| experience in the area you invest in and access | | | | managers can tell you what you should get for |
| to the MLS (Multiple Listing Service), can be a | | | | rent in a given area BEFORE you buy. |
| great help. If she is a seller's agent, she can still | | | | Start building that team. Investing in real estate is |
| ethically bring the best deals to you once she | | | | a whole lot less stressful and more profitable with |
| knows you're a serious buyer. | | | | a good real estate team. |
| 5. An appraiser. A good appraiser can give you an | | | | |