Suggestions for Building my Team!

[Laina Chadwell]

Hello! The past year I have been studying up on house hacking and am at the point where I feel confident enough to get started! Two contingencies, first being given the hot market I am in no rush into buying(nor should anyone ever be in any market climate) but I really want to take my time and build rapport with my future team.  Secondly, I am lucky enough to travel for work, however, this makes it difficult to find and meet like minded people, agents, lenders, etc. I am looking to start investing in an area that I currently do not live in, but plan to by the end of summer. Any suggestions on how I can start getting the ball rolling? BP is a great tool I have accessed and I've joined some facebook forums but still at square one. 

[Aaron W.]

@Laina Chadwell  You are certainly in the right place to learn about investing and building your team.

Before deciding where and what to buy, what is your why in investing in real estate? What goals do you need to accomplish your why? For example, do you want to invest for primarily cash flow or appreciation? Are you looking for cash flow now or can it wait? What is your appetite for rehab?

By answering these questions above, you can start getting an idea of what you should look for. Then you should look at the markets you're interested in to determine which ones will help you accomplish your why and goals. It could be none of the markets you're looking at will do it and you will need to look someplace else.

Continue educating yourself and start practicing analyzing deals now. This is a essential and perishable skill that all investors should have in their toolbelt.

Once you decide on a market or two that fits your investing goals, then start asking for referrals for team members. As an out-of-state investor, really pay attention to finding the right property manager.  One size does not fit all. The PM can make or break your investment depending on how well they manage your property.

Best of luck!