November 27, 2008
Guidelines For Assembling Your Real Estate Investing Team
Why Have A Team?
It can be quite a daunting task, when you’re starting out, to consider hiring accountants, lawyers and other professionals. Not only is the expense a concern but knowing who to consider and how to make a decision about who to utilize puts many people off. And it is for these reasons that many would-be investors try to do it all themselves.
However, you will find that the short term benefits of doing it all yourself will very quickly be dwarfed by the cost of lost opportunities, bad deals, and a simple lack of manpower turning just a few deals into a full-time job. So instead, let’s discuss some effective selection techniques and ways to minimize costs in the early days.
At this stage, don’t worry too much about how you will afford to have these professionals “on your team”. There are definitely going to be some costs in getting started but initially you will be calling on these people far less frequently than the phrase “on your team” might suggest.
Full article… Guidelines For Assembling Your Real Estate Investing Team
Filed under Getting Started, Team by Scott Roemermann
When I think back to when I got started as a real estate investor and try to put myself in those shoes again I remember the things I was looking for at the time were very much about minimizing risk.
At the time, I desperately wanted a mentor to support me (or tell me exactly which deals to do). I'm sure many, many newbies would love to have a Robert Kiyosaki as a friend so he could just tell them which deals are good and which ones to stay away from. And I'm also sure I've heard Robert tell stories of problems he's had with friends that he's tried to help in this way. But back to the issue at hand.
Why is it that so many of us want a mentor-in-a-pocket above all else when we are starting out?
Full article… Is There EVER a "Sure Thing" in Real Estate Investing?
Filed under Getting Started by Scott Roemermann
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