Your Real Estate Investing Team

The most important member of your team is your Mentor. When you find someone who is knowledgeable and can teach you what not to do when investing in real estate you’re probably not the only student he or she has. I would suggest someone who is interested in your success. It’s not important if your mentor has more than one individual to be available to. Mentors only last for a while, and then after they have taught you all that they know they are a friend.

An attorney and a CPA or an Accountant who is educated in real estate finance will save more for you in the long run than they charge you. I don’t plan on landlording so landlord/tenant law, lease drafting or management of property will not come into play. A CPA, in my opinion, is more important or equally important to your attorney. He/she is someone who stays current on the advantages of taxation and how to help your business grow. It does depend on the investing technique you use whether it’s wholesaling, buy and hold or fix and flip.

Your real estate agent is also valuable. You will know if there is trust right from the start. Find a realtor that challenges you and your investment thinking; someone who is honest and will work with you to get the right deal.

Your investing partner should complement you. If one of the partners is good in some things and the other partner good in different things this will work for your investment team. It is necessary for both to profit and complement each other through a successful relationship. Developing an investment team is essential to your success. Teamwork is what counts the most!