Columbus Ohio Newbie Invester

[Jennifer Bertagna]

Hello All,

This is my first time posting, so bare with me if I miss something and please any insight would be appreciated.  While we own rental properties, we are now wanting to start flipping and this process is new to us.  I have read the book Flipping Houses by J Scott, which is great and very informational but am curious to pick everyones brains on "building a team".  

Who does your 'team' consist of: real estate agent, lawyer, general contractor, CPA .....  I want to get all processes in place.  With that being said I want to make sure we have the right people, only the people we will need!  

Finally --- if anyone has any good referrals in the Columbus, Ohio area that they have worked with or know please please let me know!  I'm looking to contact them soon.  

I'm loving this BP site and look forward to working and networking here! 

Thank You, 

Jenny 

[Corey Liepelt]

Welcome to BP, Jennifer. I would agree with James about the people you want, but not necessarily in the order he listed them. I would suggest starting conversations with people in your circle of influence to see if anyone they know might be interested in becoming a private lender. You don't phrase it quite so directly, but that's a topic that's broad enough to have its own thread—in fact, I'm sure there are already several in the forums.

Good contractors are hard to find, and that's who I would look for next. I like J. Scott's idea of going to Lowe's at 6:30 in the morning with a box of doughnuts and just hanging at the contractor desk. The guys who are there that early are usually the ones who are for real. Strike up some conversations and see who you meet.

As for having a Realtor, you might use them to help you find leads (although leads on the MLS are slim pickings these days), but you definitely want them when it's time to list your property after it's been rehabbed.

I would also add a CPA to your dream team. A good CPA can help you determine the right entity to use as you start your RE business and devise a tax strategy with you for the future.

Good luck with your flips. If you have any more questions, post them here on the forums!