I NEED to build a team!!!! HELP!!!!

[Jalon Scott]

How do I go about building my team of a Lender, RE Agent/Broker, Property manager, Project Manager, Attorney, etc.? How did you go about building your team? Best interview questions? Especially if you are investing from afar? I am in the military and this has by far been the most difficult aspect of the transition for me. Where did you look? Any advice would be extremely helpful!!

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I am a newbie investor currently working on the South Side of Chicago. I am interested in flipping small to mid size single family units and in the near future transition into long term small multifamily rentals in the Mid-west area, ultimately ending up in commercial multifamily syndication in the Mid-west area.

I am very keen on analyzing properties, good with spreadsheets, and creating and implementing systems to help streamline processes. This is the value I can bring to a team!

Lastly, I am currently looking to establish a team of professionals in the industry around me interested in creating freedom, cash, and generational wealth through real estate. Please feel free to reach out to me if this sounds like you or if I could be of value to you. I'd love to connect!!

[Erik W.]

Why all this worry about a team?  Have you closed a property yet?  Not trying to be offensive, but it sounds like you're trying to build an NFL franchise but you aren't quite sure how flag football works yet.

My suggestion is do the first deal yourself using an experienced agent.  That person's job is to hand hold you thru the process and introduce you to people like lenders, appraisers, contractors (for repairs), surveyors, title companies, etc. For that, you pay a modest fee and you make a lot of valuable contacts for future deals.  Make lists of names and phone numbers of everyone you talk to as you walk thru the process.  Then for Deal #2 you can decide if you feel comfy DIY or not.

Most REIs (I don't have a percentage) that I talk to started out this way.  We went out and got our first deal, and along the way we built contacts.  Gradually over time this morphed into people with whom we liked doing business.  

One more thought: this isn't YOUR TEAM unless you are paying them W2 wages as part-time or full-time employees.  They are all independent contractors or they are part of other people's teams.  I wouldn't worry about having a team until you're spending 20+ hours of your own time per week doing low value tasks that can be outsourced to someone else who does is far faster and cheaper than you can.  My encouragement is take some time to pay your dues to the industry and build relationships as you go.  Most seasoned Pros worth talking to aren't going to take you seriously if you try to "interview them for your team."  They don't work for you; they are in business for themselves.  Sure, you can and should ask them questions regarding specific services they offer, but don't treat this like you're already a highly successful entrepreneur and they should be rushing to you with resume's and begging for a chance to work in your business.  This isn't a re-run of "The Apprentice, Season 1."  (*grins)

If you get so much business you have to hire work done on a consistent, repeat basis, then consider yourself radically successful!

I hope this helps.