Why a "POWER TEAM" is a waste of Time

[Christopher Stanis]

You MUST HAVE ALL these professionals on you "POWER TEAM" to Begin Real Estate Investing: 

1. Real Estate Agent      2. Home Inspector      3. Mortgage Broker     5. Attorney      6. Accountant     7.Contractor    8. A Buyers list   9. People from City Government   10.an Appraiser    11. A guru   12.Someone to help organize your long lists 13. Did we mention an agent? .......

WRONG!

The first  RE Investing class I took gave me what seemed like a list longer than Santa receives at Christmas of everyone I needed to get on board my team before I could go out and be a real estate investor. Have you had this experience too??

My first purchase was a 7 unit mobile home park. I didn't have a single one of these people on my "power team" when we made the deal. Was I doing something wrong? It felt like it based on what they told me in class. My partner and I found the property on Craigslist, inspected ourselves, and financed with credit cards. Only after we had the property under contract did we ask around for "the most competent real estate attorney in town." 

If you're new to real estate, go out and look for deals. Drive around the neighborhoods you like, and look for crappy homes. Use Zillow to see what homes have sold for before. Check out Craiglist, regularly. Check BP when you get stuck.  JUST DO IT!  If you can do 5th grade math (Calculators are accepted), and are reading this post, you are more than qualified of being a successful investor. Seriously.  Just stop using the need to create a "power team" as the excuse holding you back from achieving everything success!!

[Joe Villeneuve]

This is an example of "you don't know what you don't know".  What success you had without a power team is nice.  The success you could have without a Power Team is unknown to you at this point.

What the Power Team gives you is a compounding of the one thing that is more valuable than money (you can always get that back), because once this is gone...it's gone forever, and you only get "one" of it.

If you think you were successful without a PT, think about how much more successful you could be with one.