Real Estate Investment Requires A Team

I had a hard time at first with real estate investment. One of the reasons was that I tended to be a "lone wolf," trying to do too much myself. I've since learned that to really do well investing in real estate, you need to have a team of people you can trust and rely on. Here are some possible team members, and what they need to be on the team.

1. Real estate agent. A licensed agent with experience in the area you invest in and access to the MLS (Multiple Listing Service), can be a great help. If she is a seller's agent, she can still ethically bring the best deals to you once she knows you're a serious buyer.

2. Real estate attorney. This should be someone familiar with the laws and legal customs of your area, and have experience with the type of deals you intend to do (If you are buying rentals, she should be familiar with doing evictions, for example.)

3. Accountant or bookkeeper. Keeping proper books for real estate investments is getting more complicated with all the tax-law changes. Find someone that understands the law, and what you want.

4. Mortgage broker or banker. The first can offer many options, but the second can make the loan decision. Each has their advantages, and you could use both. In either case it's important that they understand what you want (fast closings, lower interest, corporate loans?)

5. Appraiser. Not only can a good appraiser give you an accurate valuation of a property, but they should be able to suggest ways in which you can raise the value of a property. Use someone that will talk to you.

6. Inspector. In some areas it is easy to become an inspector with little experience. It's best if you use one that is or used to be a contractor, so he can find the problems AND give you some idea of the cost of repairs.

7. Insurance agent. A good one will understand what you want, and find ways to save you money. Insure all your properties with one agent, and you're likely to have discounts available, and better service.

8. Escrow officer. They will usually be with a closing company. Look for someone that's efficient, and can explain things clearly to both sides. If he is confused by a slightly creative contract, he should educate easily or be replaced.

9. Cleaning person. Having a trusted person or crew ready means a fast turn around when you buy a rental or rehab project.

10. Property manager. Be sure that the company you hire has exerience, is responsive, and will have time when you call. A good property manager can tell you BEFORE you buy, what you should get for rent in a given area.

Real estate investment is less stressful and more profitable with a good team on your side.

Steve Gillman has invested real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com

---

Apartment Financing Explained

So you're interested in entering the world of property management?... Read More

How to Make a Buyer Fall in Love with Your Home

If you are thinking of selling your home, there are... Read More

Condos Vs. Condo Hotels For Vacaton Home Ownership

Condo hotels, also called condotels, are a relatively new concept... Read More

Should You Buy Hud Homes?

Buy HUD homes are sometimes the cheapest option available for... Read More

10 Frequently Asked Short Sale Questions

1. What happens to the seller's credit rating when they... Read More

Santa Visits a Just-Moved Newcomer in South Florida

Twas the night before Christmas and all through the house... Read More

Lake Property in Danbury

A lakeside vacation or second home can be a quiet... Read More

Much Ado About Mansionization?

Is there a perpetual shadow hovering over your house? Do... Read More

Avoiding A Bad Investment Is Easier Than You Might Think

Human nature being what it is, none of us can... Read More

For Sale By Owner - Use This Tip To Sell Your Home Quicker and At a Better Price

Your house is for sale by owner (fsbo), Along with... Read More

10 Tips to Sell Your House Faster!

Here are some Handy wee Tips to help you Sell... Read More

Selling Property - Valuing Your Property

Selling property privately has many advantages over using an estate... Read More

Landlording And Other Aggravations

Here's the gripping story...You are the landlord of a small... Read More

How to Make the Real Estate Market Work For You and Get The Most Money

How to make the Real Estate market work for you... Read More

Checklist for Buying a Home

I had a client who called saying that his bath... Read More

FSBO: For Sale By Owners Chapter IV [part 1]

Like a monarch, Red Haring reigned in the deep leather... Read More

Create a Great Webpage to Sell Your Home

The majority of people in the UK who are looking... Read More

Finding the Right Real Estate Agent:: A Guide for Seniors

When considering buying or selling a home, seniors have a... Read More

For Sale By Owner: The Inside Scoop On Selling Your Own Home

If you're thinking about selling your home perhaps the 'for... Read More

Tidy Up The Outside, Reap The Rewards

There isn't a realtor in existence who wouldn't tell you... Read More

Maltas Market Battle

With new destinations such as Bulgaria, Slovenia and Croatia offering... Read More

Greed Can Cost You Your Shirt!

The proper action when things are going well is to... Read More

Property Investing Secrets 6

Property Investing Secrets:What No One Ever Tells You-How Real Estate... Read More

Seven Tips in Choosing Maui Income Properties

Aloha! If you are interested in choosing a Maui income... Read More

Before Selling Your Home

Here are some important steps you should take before you... Read More

California Home Seller Disclosure Duties

Property Condition - Seller's What to Expect During the Inspection... Read More

Purchasing Property With No Money Down: My Personal Experience

Have you ever seen those infomercials about buying houses with... Read More

Planning for Real Estate with Estate Planning

One of the most important considerations you will need to... Read More

The Many Benefits Of Lease Purchasing

Lease Purchasing affords wonderful benefits and opportunities to sellers, buyers,... Read More

Selling a House is Easy

The thought of selling a house strikes fear into most... Read More

The Irish Property Market - Expensive But Worth It?

Lying on the edge of Europe facing out to the... Read More

Purchase Your First Home with Confidence

If you are making the transition from renter to homeowner,... Read More

Atlanta Georgia Real Estate - Marietta - East Cobb, Roswell, and Alpharetta

Whether you're a "move up" home buyer, downsizing, or relocating... Read More