There are several professionals you need to hire to build your real estate investment team.
Investing in real estate is a great decision because it will give you some of the best rates of return possible. Who do you need on your investment team, though?
First, you need a great Realtor who knows the market. Find one who’s willing to preview homes, work in investments, and listen to you so that you can find the perfect home.
Second, you need a good lender. This person will help you find out all of your different financing opportunities. Everybody’s goals are different, and divulging your financial needs to your lender is paramount.
A property management company will make you money by increasing rent, keeping good tenants, and helping the property appreciate.
Next, you need a financial advisor. A financial advisor won’t always be pro real estate because that’s not how they get paid, but it still helps to know how much money you have tied up in each of your investments.
Also, you need a great property management company. This is something Gary Keller recommends specifically in his book, “The Millionaire Real Estate Agent.” The No. 1 way to lose money in real estate is to sell too quickly. If you hold on to a property for a long time, a property management company will make you money by increasing rent, keeping good tenants, and helping the property appreciate. The people who sell too quickly are the ones who let the situation overwhelm them, and a good property management company will reduce your stress so that you don’t sell and keep your home protected.
Finally, you’ll need an inspector and a handyman. Your Realtor should know a good inspector to contact, and your management company should be able to provide you with a good handyman.
If you have any questions about this or any other real estate topic or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d be happy to help you.