Building Your Real Estate Dream Team

Real Estate Investing is always better when you aren’t going it solo.

So who should be on your real estate team?

What’s the best way to recruit them?

Whether you are planning on staying a solo real estate investor, or you’re planning on developing a real estate investing business that will grow into an empire, there are plenty of people that can help. And you should leverage their assistance and expertise. There is a lot of talk about leveraging equity, credit, cash and other people’s money when investing in real estate, but leveraging other people’s knowledge, experience, and time is even more important. This applies to avoiding the pitfalls, speeding up success, investing more profitably, scaling up, and maximizing your own time. Many invest in real estate to enjoy more free time and financial freedom. Having to work 100 hours a week in real estate to hit your goals because you are trying to do it all yourself can be counterproductive to that. Even if you love the thrill of the deal and being at the helm of your real estate business every day; your time is best spent, or must be spent only working on top level tasks that spur growth and yield the most profits. This means some type of personnel leverage is absolutely essential for every real estate investor. So who should those people be?

Your Mastermind Group

Every real estate investor ought to be familiar with the concept of having a mastermind group if not I highly suggest you read the book by Napoleon Hill “Think & Grow Rich”. This is an unofficial board of advisors. Individuals that have a lot of wisdom, experience, and can help you streamline your way to success.

This may include:

Real Estate Attorneys
Home Builders
Real Estate Investing mentors
Business coaches
Tax professionals
Accountants

Most new real estate investors can’t afford a formal board full time. So look for people who offer coaching, mentoring and consulting that you can meet with face-to-face on a scheduled basis, or even learn information from at their events, trainings and coaching sessions.

Strategic Business Partners

These are individuals that you will work with on a regular basis. They are your peers, vendors, and allies.

This will probably include:

Attorneys
Real Estate Wholesalers
Rehabbers
Buy & Hold Investors
Appraisers
Title company reps and owners
Realtors
Home builders
Contractors
Lenders

Real estate investors talk regularly, collaborate on marketing together, work to increase client retention, and protect each other’s market share.

Who to Hire

There are some roles and tasks that you will need to hire help for. They can be part time or full time, or simply on demand. One of the best ways to find these individuals today is by recruiting virtually via outsourcing platforms. You’ll have your pick of the best talent in the world if you look for quality.

These hires will eventually include:

Personal assistants
Marketing experts
Writers
Graphic and website designers
Call Centers

Summary

Every real estate investor and CEO needs a team. They’ll help you build your business, increase net profit, and avoid financial disasters. Fortunately many of these team members can be found for free, by bartering, or very cost efficiently by outsourcing.

I”ll See you at the closing table,

Marcel Umphery the “R.E.I. Successmaker”