Real Estate Team – Building One

I didn’t understand the concept of a real estate team at first, so I had a hard time with real estate investment. I tended to be a “lone wolf,” trying to do too much myself. I have since learned that in real estate, you need a team of people you can trust and rely on. Here are some possible team members, and what they need to be on the team.

1. A mortgage broker or banker. A broker can offer many options, but a banker can make the loan decision. They each have their advantages, and you could use both on your team. In either case it’s important they understand what you want (fast closings, lower interest, corporate loans?)

2. An accountant or bookkeeper. To keep proper books for real estate investments is getting more complicated with all the tax-law changes. Find someone that understands the law, and understands what you want.

3. A real estate attorney. Find someone familiar with the laws and legal customs of your area, and that has experience with the type of deals you intend to do (If you are buying rentals, she should be familiar with doing evictions, for example.)

4. A good real estate agent. An agent with experience...