Investing in real estate can be incredibly lucrative. Going it alone, however, can make success a bit challenging. If you want to turn property investing in a business, you need a highly qualified team. To build a strong team, you can’t hire just anyone. Here are a few people who should consider adding to help you achieve success.
One of the first people who should add to your team is a mentor. Someone with more experience can provide you with insight, tips, and advice. Using this knowledge, you can make smarter, more informed decisions.
Real Estate Agent
A real estate agent can help you find potential investment properties. Along with access to the MLS, they often have insider information in the form of pocket listings.
Ideally, your person working with numbers should be a CPA. They should also have an understanding of the ins and outs of real estate. The more working knowledge they have, the better equipped they’ll be to assist you, especially come tax time.
You’ll want a commercial real estate lawyer Long Island who has knowledge regarding the types of deals you want to do. They should also be well-versed in navigating contracts, asset protection, business law, and the legalities of every move you make.
When looking for an inspector, find someone who has credentials. You want someone with plenty of experience on your side to help you fully understand the issues a property has and what repairs are likely to cost you.
Mortgage Broker or Banker
Mortgage brokers can help you find several deals. A banker, on the other hand, makes the decision to provide financing. No matter which option you select, you want someone who has experience working with real estate investors, and who wants to help you reach your goals.
The right team can make all the difference. Review candidates carefully to find qualified individuals that you feel comfortable with to ensure the success of your investments.