Everyone knows the saying “two heads are better than one”, in real estate this proves to be true time and time again. Without a good team of professionals, investing in real estate becomes very difficult and much less accessible for many new investors. I would like to outline some crucial members of our team who helped us scale our business.

Real Estate Agent

Having a knowledgeable agent that understands your needs as an investor is critical for new as well as veteran investors. There are a number of residential real estate agents out there so be sure to shop around and interview them as if they were going to be your employee. In our situation, one of our operating partners became a licensed agent to capture the extra income when purchasing listed deals.

Capital Investors

Since most new investors will not have enough capital to buy properties in cash, they will need some sort of capital investment. This capital can come from the bank, hard money lenders or private lenders. Raising money is an integral step in finding success investing in real estate. When searching for investors it is important to have a deal ready that has been analyzed and vetted by any professionals necessary to complete the deal. Talking to your local banks and financial institutions is a great start when starting to raise money. It is important to shop around for interest rates and loan programs. We have found that loan programs for investors drastically vary from bank to bank so it is important to do your due diligence before signing any contracts or getting credit pulled.

Contractors

When investing in real estate it is important to find a good general contractor that will be able to estimate costs of potential renovations or repairs. It is extremely important to have reliable people that will handle the construction on your flip project or fix a leaking toilet at your rental property.

Property Management

Property Management is by far the most dreaded part of owning rental properties. The biggest reason people do not want to invest in rental properties is the potential tenant issues they may face. From the late night calls for a flooded bathroom or complaints from the neighbors about the lawn not being cut, this is an issue not many people want to deal with. Finding a good property manager will help keep your headaches to a minimum and help your investment stay passive.

-Ryan Greenberg