Real Estate Forums

Real Estate Investment This forum discusses all aspects of real estate investing, from initial research to working with your real estate investments once acquired

Reply
 
Thread Tools Display Modes
Old 06-03-2005, 06:50 PM
bigp's Avatar
bigp bigp is offline
Advancing Webmaster
 
Join Date: Nov 2004
Location: Los Angeles, CA
Posts: 59
bigp is on a distinguished road
Talking Assembling your Real Estate Investing Team

There are several important things you need to be successful in real estate, one of which is a great team. I'm going to talk briefly about who should be on the winning team:

1. Your Mentor - every successful entrepreneur needs a good mentor. A guide. By training under the watchful eye of one smarter then us, we can only get smarter. Start at your local investment club.

2. Mortgage Broker - you want someone who has the experience of working with other investors. They need to be creative and smart!

3. Real Estate Attorney - it is really important to have someone on the team who can go through contracts, and who knows the legalities of all your moves.

4. Escrow Officer or Title Rep - having a good one on the team helps to close deals that much quicker. You always want people looking out for YOUR interests.

5. Accountant - Preferably a CPA (Certified Public Accountant). Your numbers guy should also be well aware of the ins and outs of real estate. Come tax time, this is the man to help you through the write-offs!

6. Insurance Agent - It is always better having an insurance rep that is looking out for you when things hit the fan.

7. Contractor - The good contractor seems like the hardest one to find, but can often make or break your profit margin. You want someone who gets things done on time and under budget!

8. Supportive Family & Friends - Having the support and backing of loved ones is important in any endeavor.

Other Optional Team Members:

8. Realtor - someone keeping an eye out for you
9. Property Manager - someone to watch over your investments
10. Great Handyman - Someone to take care of the little things that come up on a daily basis.

Assembling the team will not happen overnight, but once together, they will give you the backing and help you'll need to make your real estate investing dreams come true!
__________________
-Josh Dorkin
BiggerPockets.com
Reply With Quote
Old 06-08-2005, 03:40 PM
Jade456's Avatar
Jade456 Jade456 is offline
banned
 
Join Date: Jun 2004
Location: Las Vegas
Posts: 363
Jade456 is on a distinguished road
Default Re: Assembling your Real Estate Investing Team

I would have figured the realtor would be number one. After all, any good realtor will have a relationship with a top notch lender and title person. Not to mention knowing what areas are going to be good for short term gains and long term.
Reply With Quote
Old 06-16-2005, 11:08 AM
Jnazareno's Avatar
Jnazareno Jnazareno is offline
Advanced Webmaster
 
Join Date: Apr 2005
Location: San Francisco Bay Area -East Bay
Posts: 989
Jnazareno is on a distinguished road
Send a message via Yahoo to Jnazareno
Default Re: Assembling your Real Estate Investing Team

Quote:
Originally Posted by Jade456
I would have figured the realtor would be number one. After all, any good realtor will have a relationship with a top notch lender and title person. Not to mention knowing what areas are going to be good for short term gains and long term.
lol - I think this one can be on any order.
but some people do think realtor to be on the 8 of the list ..lol
__________________
Bay Area Real Estate | Free MLS. Coming to CA and like to know Things to do in California.
Reply With Quote
Old 02-16-2007, 01:36 PM
ibuyphoenixhouses ibuyphoenixhouses is offline
New real estate webmaster
 
Join Date: Feb 2007
Location: Phoenix
Posts: 4
ibuyphoenixhouses is on a distinguished road
Default Re: Assembling your Real Estate Investing Team

For me, finding a good mentor is #1. Once you find that, many times you can tap into their network of contacts to fill the remaining spots on your team.
__________________
I Buy Phoenix Houses | We Buy Houses
Reply With Quote
Reply


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off

For our members

Main Sections

IDX Coverage Areas

Spiders Welcome

All times are GMT -7. The time now is 09:31 PM.


Powered by vBulletin® Version 3.6.4
Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.