Building your real estate team

[Drew Bonner]

Hello all! I am starting a real estate business just South of Nashville, TN. One of my business partners is my Uncle who has acquired 280 units in Southern Illinois in just about a 10 year span. He started out with a $10,000 loan and now owns a multi-million dollar company. He wants to expand to Nashville however he is pretty rooted where he is, so he can't do a lot of the networking down here with the bankers, attorneys, agents, and the other people you need to build your real estate team. I was wondering if I could get some advice on ways to go about achieving that down here because obviously that is vital in achieving success in real estate. List of people include: 1. Maintenance guy 2. Banker 3. Attorney (to set up our LLC) 4. Real Estate Agent 5. CPA Thank you very much!

[Josh Braun]

Couple ways to achieve building a team of people to work with:

1. Research - find people through general means of marketing (i.e. Craigslist, Houzz.com, REIN events, newspaper classified ads, local real estate groups, job sites that are in process, driving around local businesses in the area)
2. Partnering - find someone who already has the contacts in place and offer up some type of partnership to leverage those contacts.
3. Purchase the contacts - find someone who already has the contacts and is willing to share those contacts with you for something in return.

I always prefer the research route, because I complete due diligence on folks that I use and target having 3-5 folks for everything I need.  It also keeps you "in the know" on the local supply/demand of services.  If you go the partner or purchase route, be sure to add something of value to the person who is sharing their contacts.  More than likely they have invested time and/or money to obtain.