Build a Real Estate Team You Can Be Proud Of



Real estate investing is a team sport. Think football. You got a quarterback. And the rest of the team. But without the rest of the team, you won't be successful.

In real estate investing, you're the quarterback, calling the shots yet you still need a supportive cast.

Why do you need a team?

How do you build a real estate team?

And what does a real estate team consist of?

All common questions.

Why do you need a team?

Real estate investing can be a complicated process. Trying to do everything yourself will not cost you less money, in fact, it will cost you more money, more headaches, and more time. Why? Because you don't know everything. That's what your team is for? They bring in skills you lack. Experience you lack. Resources you lack. And plus, it's more fun when everyone is having fun and successful.

How do you build a real estate team?

In simple words: through hard work and street smarts.

Building a team is no easy task if you have no experience is leading a group. You are the leader of this team, and it is necessary for you to have leadership skills and influential skills to lead your time to highest goals possible. It is an ongoing process to be able to assemble a team but nonetheless, as you progress in your real estate investing, you will begin to see what makes a great team. And yes, you will have to change team members every once in a while. It happens.

What does a real estate team consist of? Oh, and what's there roles?

You usually got 13 main members but expect to have a lot more depending on the real estate project you are working on. Here they are:

1. Real estate attorney

*protects you and your investments

*guides you in your investing using legal means

*advises on laws that can alter investment decisions

2. Property manager

*manages your property

*updates you on the performance of your property

3. Accountant

*handles the numbers on the investment deals

4. Other investors/partners

*it varies, but they usually put up the money or credit for the deal

5. Loan officer/Mortgage broker

*helps you finance the property

6. Real estate broker/agent

*helps you find properties

7. Insurance broker

*get the best insurance for your property

8. Contractors

*fixes, repairs, or constructs new development within your property

9. Appraiser

*figures out what the value of your investment property is

10. Architect

*helps design a layout for you property, if you decide to change it

11. Tax consultant

*advises on the best way to reduce tax liabilities

12. Environmental consultants

*makes sure your property passes all the rules and regulations for safe housing

13. Your assistant

*daily help such as answering emails, phone calls, errands, etc.

That is very big real estate team. You will have your hands full but your team helps you become more successful. The better you are as a leader in picking your team, the better investor you'll end up becoming.