Which professional is the hardest for you to find?

Question

Which of the following team members do you find most challenging to find for your real estate investments? If you have a great strategy for finding a team member, please share it here so our community knows!

Nathan Gesner · Answer

Contractors, REALTORS, and Lenders are a dime a dozen; it's just a matter of doing your homework.

Good Property Managers? Few and far between.

You can always find someone willing to collect rent for a fee. It's much harder to find a quality PM that has solid policies and processes in place to protect your property, income, time, and sanity with little owner involvement.

When considering investing in a market, I recommend starting with your search for a good PM. If you can't find a solid one, don't invest in that market!

Jon K. · Answer

I'm on my fourth PM company as a landlord. 100% agree. Unfortunately good ones don't necessarily stay good.

Jon K. · Answer

I found a great agent to work with when I was just getting started with this method. I had just bought an off market property to flip but didn't have a regular agent I worked with yet. So I reached out to one who had sold an obviously flipped and great looking recent comp in the neighborhood to ask if they'd be interested in listing it on the back end in exchange for guidance on things like finishes, what feedback they received on their previous listing, etc. They of course were happy to share the info and to work with me. Took a lot of the guess work out of it and we did well. Ended up working together on quite a few deals after that both on and off market. We still collaborate to this day.

Alecia Loveless · Answer

@Noah Bacon Contractors in my area are difficult. They’re all so booked out it might take 2 years to book with the top ones.

I fell into mine accidentally when he showed up as a substitute for my usual plow guy. We’ve been working together for over 20 years now.

Electricians are truly my hardest find. There’s tons in my area but they’re so busy it’s a problem. Also given how busy they are it’s hard to get one that’s good and not super expensive.

Philip Ray · Answer

I have been looking several times for a Tax Professional and couldn't find one. So many of them just sit in the office and know nothing.

V.G Jason · Answer

I've come across really good contractors, lenders and PMs. I'd say about sub 20% are truly great, maybe closer to 10%.

Finding a truly qualified, legit investor-friendly agent is a unicorn. That's hitting the .005% ish area.

Shakir Whitehead · Answer

I am definitely having a hard time finding a reliable talented contractor. If anyone knows of a good one please let me know.

James W. · Answer

I run an overseas superluxury STR and you are right about the value of a good property manager in this market. I have taken a business partnership approach with this company, and have even mentored their excellent young CEO. High end offerings in particular need a great PM. For my US based flips/BRRRR's contractors are my bugbear.

Jeremy England · Answer

Here is the thing.  Its hard for investors to find good reliable contractors because typically investors want to pay below market prices for the work.

Not only that but they also want to make substandard repairs to homes with cheap materials.

This is the generalized view of investors among contractors.

And i also know the typical view of contractors investors have.  That is likely because you are hiring unlicensed people to do the work.  A license isnt the end all be all.  But it does give someone peace of mind that the contractor is no criminal, credit worthy, insured, and experienced.

Stop hiring unlicensed contractors and your experience with contractors is likely to improve

A business license is not a contractors license.   The state grants contractor licenses.  Not a city or county

Bill Hampton · Answer

@Philip Ray

I recommend finding an accountant who specializes in real estate taxation and tax planning. You may want to consider working with your accountant remotely to expand your options.

I would also recommend looking for a accountant willing to work with you throughout the year. You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.

Good luck.

Which professional is the hardest for you to find?

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