Southern California Logo

Back

How To Build A Real Estate Investment Team

You have dipped your toe in the water a few times as a Real Estate Investor and the returns have been good so far. To become a big player however, you need to be able to assess deals quickly and close on them just as fast. This is when you need an all-star team of professional partners who can help you be as agile and successful as possible. They don't have to be heavily invested in your personal business, but reliable enough to trust to get the job done. What follows is a short list of all the potential partners you need and what expertise they should have.

Real Estate Team: Assemble

Agent/Broker/Realtor:

Presuming this person is not you and you are just the primary investor and team leader it is important to have an experienced Agent on your team. There are so many subtleties and and ins and outs to Real Estate Investing that you need a person dedicated to just this task. Your agent often makes a great #1 to your seat in the captain's chair since they can best help you pick and choose properties at the start of every deal. Your agent can either bring in their own Appraiser or you can choose to make this a separate position on the team.

Title Company:

Having a dedicated title company as partner has its advantages, especially in these murky times. You need a company that specializes in investments and will assign you an experienced escrow agent. BizCompare.com

Financial Planner/Tax Advisor:

Depending on several factors one person could fill this role or it could be several members. Your personal Financial Planner has a bead on the health of your portfolios, real estate and otherwise. Every move ought to be carefully considered and researched heavily when determining how much of your own money to put into a deal. A Tax Advisor can be a great ally in helping you craft several investment strategies to compete with market conditions and deals. This person might be your personal accountant, but it helps if is someone with extensive real estate experience.

Your Lender/Mortgage Broker:

This is another area where having a regular relationship with one Lender benefits you long range. If you deal with them on a regular basis they will know you well as a client and make the workings of every deal that much smoother and faster. Time waste is the enemy of every investment team and the main reason investors lose out on deals.

Hard Money Lender:

In addition to banking institutions there are many Lenders will lender you hard money based on your qualifications as an investor, your credit health and other factors. Often based on a points system loans can be secured usually for 15-20% terms for 6 months to a year based on a quick and dirty industry check. You can build good standing with these companies through regular transactions and prompt repayment. There is a comprehensive nationwide list to be downloaded for free here.

A Real Estate Lawyer:

It should go without saying that in this day an age you need at least a good Lawyer by your side when ever money and contracts are changing hands. Choosing someone with experience and the ability to help you tie up the loose ends of deals will prove invaluable for all of your investments.

Share this:

Comments

Leave a comment:

* Login in order to leave a comment. Don't have an account? Join for Free



Become an Expert Contributor

Have some knowledge to share, and want easy and effective exposure to our audience? Get your articles or guides featured on Southern California Homes today! Learn more about being an expert contributor.

Learn More