Comments on: Guidelines For Assembling Your Real Estate Investing Team

By: Susan@Palmdale homes

Susan@Palmdale homes — Sun, 18 Jul 2010 22:31:09 +0000

Putting a team like that together is a great way to get ahead of the pack in investing. I've worked with some investors myself and I've noticed they are very specific about the numbers before they put in offers and exactly what they expect from me during and even after they've made a purchase on a home. It is vital to their success that everyone knows how to bring something to the team.

By: contractors tax

contractors tax — Sat, 17 Jul 2010 17:54:32 +0000

Also a building professional like to Quantity Surveyor would be an excellent addition to your team. Their job is to save you money all round.

By: Gerald Miller

Gerald Miller — Thu, 10 Jun 2010 16:03:23 +0000

@Charles, it's very hard to trust online sources… there is so much rubbish out there

By: Matt@Medford Contractor

Matt@Medford Contractor — Thu, 29 Apr 2010 21:02:03 +0000

After doing a few flips on my own and doing everything. I quickly learned that it would be a lot easier and quicker to hire a contractor. It would also be cheaper as my holding costs would be greatly reduced as well.

By: Matt@RealEstateInvesting

Matt@RealEstateInvesting — Wed, 15 Jul 2009 15:04:42 +0000

This is a really good article. I agree that getting a good team behind you is one of the biggest struggles new investors have. The only thought I would add is that it can make sense to sort of partner up with another investor who does similar types of deals. For example, if they have an attorney and you have an accountant you can utilize each others contracts or financial structure and then just pay the professional for small edits or changes. Often times attorneys for example will act like every document they make is from scratch when in reality it may take them less than an hour to take an existing doc and make small edits to it.

By: Tim - The Real Estate Adviser

Tim - The Real Estate Adviser — Fri, 08 May 2009 14:47:01 +0000

Great post! Love to see articles like this on the importance of building a team. There are many aspects to this business and a team is definitely needed to help manage your day to day tasks. Thanks for your insight. Look forward to follow up posts on this topic.

By: Christy @ real estate niche marketing

Christy @ real estate niche marketing — Fri, 06 Feb 2009 03:50:25 +0000

All excellent tips! I like Mr. Mogul's addition above for the marketing assistant, one of those would be real handy these days.

By: Charles@Las Vegas Real Estate

Charles@Las Vegas Real Estate — Thu, 05 Feb 2009 18:59:47 +0000

@Minnesota Attorney, good points. There are lots of investor clubs, google groups, etc that are a great place to find good team members and network with others.

By: Minnesota Attorney

Minnesota Attorney — Thu, 05 Feb 2009 18:50:15 +0000

One way to find a good real estate attorney, or other team members for that matter, is to ask around in the real estate industry. For example, check real estate investor clubs or industry associations (organizations for landlords, real estate agents, etc.).

By: Charles@Las Vegas Real Estate

Charles@Las Vegas Real Estate — Sun, 25 Jan 2009 20:06:09 +0000

Having a reliable group of people in the various supporting roles is essential. There are too many things that can go wrong in putting together a deal and closing escrow. Too many people think they know what they are doing after watching a few real estate shows on television (part of the reason for the housing crisis). Its imperative you have a team of professionals.

By: jerseyguy

jerseyguy — Fri, 23 Jan 2009 22:15:53 +0000

Those who have this type of team are the most successful. It behooves agents to interview people to get them as part of your team. Who knows, you may be able to convince them to throw some advertising dollars your way also.

By: Kirsten_TX

Kirsten_TX — Fri, 16 Jan 2009 13:22:41 +0000

First off, I'd like to ask…Anyone here read Rick Vazquez, "The Pizza Delivery Millionaire"?? I hear it is getting quite the buzz for his fresh approach on real estate investing.. I worked for a real estate investing firm for a while that worked like a well oiled machine. They definitely had a team..everyone had a purpose even me. From the on call appraiser to the realtor, title company, contractor..they all worked together to make money..and everyone benefited.

By: Minnesota Attorney

Minnesota Attorney — Thu, 08 Jan 2009 01:54:53 +0000

Here is another tip for finding a good real estate investment attorney: Find a good attorney and stick with him/her. An attorney is more likely to give you free phone consultations throughout the year if the attorney occasionally gets paid doing legal work for you.

By: Robert

Robert — Wed, 24 Dec 2008 03:25:33 +0000

I have been on a constant look around for an accountant and a consultant as well. This topic is very healthy thanks for initiating!

By: Scott

Scott — Tue, 23 Dec 2008 15:10:19 +0000

Most accountants and attorneys tell you what you want to hear. It's important to interview several to get the right one to make a successful team. They need you more than you need them…take your time in getting one.

By: Mira@Amish Tables

Mira@Amish Tables — Sat, 20 Dec 2008 11:03:20 +0000

Well, the whole process can be simplified if you just look for all these professionals in your own friend circle. That way you start off trusting each other and willing to work as a team.

By: Mr Mogul

Mr Mogul — Fri, 12 Dec 2008 02:34:48 +0000

I'd add a marketing consultant, possibly also an attorney, and someone with a grasp of the lingo to write press releases.

By: office space

office space — Mon, 08 Dec 2008 10:07:30 +0000

@ Go Zone, you're spot on there. Every team should also comprise of an accountant or an auditor. The real estate industry circulates an enormous amount of money in transaction, which should be monitored and managed.You pretty much have outlined the rest. Thanks

By: GO Zone

GO Zone — Sun, 02 Nov 2008 04:01:39 +0000

I also would suggest not forgetting to add a good accountant to your team. A good one is worth their weight in gold.