Team Building in a Specific Market

[Matt Morand]

If I am working to build my team in a market that is 3 hours outside of my native market, is it essential that absolutely ALL of my team members be located in that market? For example, should I focus on looking for attorneys, mortgage brokers/lenders, accountants, and insurance agents within the market I am looking to invest, or would it be more wise to keep them closer to my home? I appreciate any and all responses.

[Michael Le]

No, they do not. Your property management company is really the only one that needs to have a strong grasp of the local market. Your transactional attorney should at least be in the same state and probably your accountant too. And your SEC attorney, mortgage broker, and insurance agent can be anywhere.