​The 5 People You Need on Your Property Investment Team

Very few people can handle the intricacies of property investment all on their own. Granted, there are a few who prefer to take on the lion’s share of the work themselves, but for most folks, collaborating with a team is the way to go. Not just anyone will do, though. You need experts; people who are highly specialized in what they do, and who can provide you with accurate and affordable services to ensure your investment is maximized. Here are the 5 people we recommend you include on your investment team:

1. Mortgage broker - Unless you’re paying all cash for your investment, you’re going to have to secure financing for the property. For this job, you’ll want a banker who has experience working with investors and can provide a variety of loan options that will help you realize your investment goals. A reputable, dependable, and creative lender who’s willing to dig deep and evaluate different financing solutions will be a great asset to your investment team.

2. Contractor - Turnkey properties like the ones you’ll find on our site don’t call for a contractor’s service because renovations and repairs have already been done. However, it still doesn’t hurt to have a reliable contractor in your corner, because you will inevitably need to use their services in the future. Plus, if you decide to purchase a property that isn’t turnkey, chances are you’ll be undertaking some of those repairs sooner rather than later. If you can partner with a trustworthy contractor who’s looking out for your best interests, you can save yourself a TON of time, stress, hassle, and most importantly, money.

3. Property manager - Managing a rental property is no easy task, which is why we recommend working with a good property management group. These folks will take on everything from marketing your investment property to securing good tenants to scheduling regular maintenance. They will ensure that your property functions smoothly and is well-cared for, which will take all of that burden off of you and leave you more time to scope out other investment opportunities! At USREEB, we offer in-house property management to ensure we deliver the appropriate amount of attention to tenants and owners.

4. Accountant - A CPA is another person you’ll want on your investment team, and preferably one who is familiar with real estate investment investment. An accountant can help you make better sense of the numbers, as well as keep everything straight for you. Trust us, when tax time arrives, you’ll be so glad you have an accountant you can turn to who knows what they’re talking about.

5. Real estate attorney - There are a lot of legalities involved in real estate investing, and even the savviest, most experienced investors struggle to understand the confusing language of legal-ese at times. This is when it pays to have a real estate attorney on your team who can interpret and translate contracts and other legal documents pertaining to your investment, ensuring that every move you make is on the up and up and won’t come back to haunt you later on.

Bonus team members: A few other folks you may want by your side are an appraiser, an insurance agent, a realtor, an escrow officer, a great mentor (for newbies especially) and supportive family and friends.

Real estate investment works best for most people when it’s approached as a team sport, rather than an individual challenge. Take the time to surround yourself with a reliable and trustworthy team of experts who know what they’re talking about and who are there to support when you need it.