best type of advisor to walk me through my first investment?

[Suzanne Reilley]

Hi, I'm educating myself, and working up to my first purchase (house hack). Once I have a real estate strategy in place, and am ready to dive in, who should I call on to help walk me through timely, nitty-girtty questions that come up in the process? And to help me avoid pitfalls? As in, am I choosing a property that will cash flow? Did I in fact choose a good area? Should I sign this form? What checks do I need to have in place that I might not even know about? What on earth is xx unexpected thing?

Should I trust the real estate agent as a guide? The attorney? An experienced investor I hire 1:1? I want to know this person truly has my best interests at heart.  

[John Mathew]

Hello Suzanne! I’ve listed five essential people you should seek advice from before making a property investment, hope this helps you. :)

 Financial Advisor

Your financial advisor is the first person you should go to if you’re in the early stages of a possible property investment. Before you start looking for properties, it’s important to know if you can afford it or not, given your financial status.

Building Inspector

Once you and your buyer’s agent have found a suitable property for your needs, it’s wise to check it out during an open house, with a building inspector by your side.

Mortgage Broker

Before you start checking out properties, it is wise to get real estate advice from a lender or mortgage broker and see if you can get pre-approved for a property investment loan. Alternatively, you can see a broker first before applying for a pre-approval if you’re not sure you’re financially ready to invest.

Buyer’s Agent

Finding and buying properties can be complex and stressful—which is why asking a buyer agent for real estate investment advice can make all the difference.

Lawyer

Getting real estate investment from a lawyer can help you maximize your profits and minimize your risks.