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Chapter One Building Your Real Estate Power Team
Оглавление“The eyes are the window to the soul, so go with your gut feeling.”
Before you begin investing in properties you need to create your power team. There are a number of people who are involved in closing a real estate deal, and you need to make sure your team is a powerhouse!
A common mistake many new real estate investors make is overlooking the importance of their team, or assembling one which is not motivated. The team of players involved in closing your deals is the key to whether or not you will make a good profit. Sometimes it can even be what makes, or breaks, a deal. When first starting out you have to know these players are go-getters, and you must understand their roles.
“Your network will determine your net worth. Build it carefully!”
The following people will help you through the various aspects of your investments. This is a basic guideline for questions you will want to ask your potential team players. These questions are not cast in stone; they simply give an idea of what you need to know. Add some of your own questions as well, and keep in mind something is probably wrong if they don’t have most of the knowledge below.
Usually the best people for your power team are those who currently hold a real estate position or were real estate investors with a relatively recent history. They already understand what you are trying to do. It’s easier to work with someone who knows the game and has played it before. You don’t want anyone who insists on playing by an old rulebook, and you certainly don’t want someone who picks up a baseball and says “Let’s play golf!”
When I’m interviewing someone for my team, here is what I generally look for:
Someone who is self-motivated, focused & open minded. Very often a real estate deal will move fast. If your team members are not dedicated, you could lose it. They should return every phone call promptly, and work hard toward getting to closing.
Someone local. It is important for them to be connected to the area where you intend to buy or sell real estate. He or she must be familiar with all the major players in the area.