{"id":104167,"date":"2018-11-30T14:30:39","date_gmt":"2018-11-30T21:30:39","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=104167"},"modified":"2021-03-16T14:51:20","modified_gmt":"2021-03-16T20:51:20","slug":"essential-real-estate-team","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/essential-real-estate-team","title":{"rendered":"10 Essential Real Estate Team Members (&#038; How BiggerPockets Takes the Pain Out of Finding Them)"},"content":{"rendered":"<p>A wise man (Brandon Turner) once wrote a book (one of many) called <em><a href=\"https:\/\/www.biggerpockets.com\/store\/rental-investing-digital\" target=\"_blank\">The Book on Rental Property Investing<\/a><\/em><em>. <\/em><\/p>\n<p><em>Let\u2019s give him a hand for writing this must-read book!<\/em><\/p>\n<p>There is one chapter in particular that helped me think about what real estate investing looks like long-term.<\/p>\n<p><em>For the record, this chapter has nothing to do with financial freedom, being able to live a life I want to live, or simply having passive income\u2014EVEN though these are 100 percent long-term goals. <\/em><\/p>\n<p>It\u2019s chapter 4: The 10 members of your real estate team.<\/p>\n<p>It could be called chapter 4: How to scale your business. Same concept.<\/p>\n<p>When the book was written, BiggerPockets was kicking <span style=\"text-decoration: line-through;\">ass<\/span> butt and taking names. Today, we are doing that at a much larger scale!<\/p>\n<p>I want to use this article as a reminder of how BiggerPockets has grown into a resource with multiple ways to help you create your successful 10-member team.<\/p>\n<h2>1. Spouse<\/h2>\n<p><a href=\"\/renewsblog\/2015\/04\/01\/biggerpockets-love-dating-site-real-estate-entrepreneurs\/\" target=\"_blank\">BiggerPockets Love was an April Fool\u2019s joke once upon a time.<\/a> However, may I point you in the direction of Matt and Liz Faircloth? They are married. They work together in real estate. They have advice.<\/p>\n<p>Brandon wrote, \u201cIt doesn\u2019t even matter whether or not they (spouse) care about real estate; your spouse\/significant other has a <em>huge <\/em>impact on your mental state, ambitions, free time, money, future, and every other aspect of your life.\u201d<\/p>\n<h3>BiggerPockets Resource:<\/h3>\n<ul>\n<li><a href=\"https:\/\/www.biggerpockets.com\/webinars\" target=\"_blank\">Matt Faircloth webinars<\/a>, every Monday at 4:00 p.m. MT.<\/li>\n<\/ul>\n<p>Pro tip: Ask him and Liz how they decided to work together and how they continue to work together. I know for a fact this is a topic they are passionate about.<\/p>\n<p><em> <strong>Related:<\/strong> <a href=\"\/renewsblog\/attract-like-minded-people\" target=\"_blank\">The Best Way to Attract Like-Minded People for Your Real Estate Team<\/a><\/em><\/p>\n<h2>2. Mentor\/Accountability Partner<\/h2>\n<p>\u201cThis is the person you turn to when things get tough or you need some motivation to continue.\u201d<\/p>\n<p><em>This sounds like my dad. <\/em><\/p>\n<p>We have this covered in spades. My favorite is below.<\/p>\n<h3>BiggerPockets Resource:<\/h3>\n<ul>\n<li>NEW! <a href=\"https:\/\/www.biggerpockets.com\/store\/90-days-of-intention-journal-ultimate\" target=\"_blank\">90 Day of Intention Journal<\/a> comes with a mastermind group. Not only do you have the chance to start stating your intention, but you are then connected with like-minded individuals who can hold you accountable to take action.<\/li>\n<\/ul>\n<h2>3. Real Estate Agents<\/h2>\n<p>You are going to want someone, who as Brandon put it \u201cunderstands the investor mindset.\u201d<\/p>\n<h3>BiggerPockets Resource:<\/h3>\n<ul>\n<li>When you visit <a href=\"https:\/\/www.biggerpockets.com\/companies\/real-estate-services\" target=\"_blank\">biggerpockets.com\/companies<\/a> and select \u201creal estate services,\u201d you not only get to meet agents who are BiggerPockets members,\u00a0you get to meet agents who are investor-friendly.<\/li>\n<\/ul>\n<h2>4. Lenders<\/h2>\n<p>So many types of lenders to choose from:<\/p>\n<ul>\n<li>Large national bank<\/li>\n<li>Small community bank or credit union<\/li>\n<li>Mortgage broker<\/li>\n<li>Mortgage company<\/li>\n<li>Private money or hard money lender<\/li>\n<\/ul>\n<p>If you need help deciding on what type of lender to use, the blog, especially the <a href=\"https:\/\/www.biggerpockets.com\/hubs\/finance\" target=\"_blank\">finance section,<\/a> has many articles on how to choose a lender.<\/p>\n<h3>BiggerPockets Resource:<\/h3>\n<ul>\n<li>We have multiple options for mortgage loans from large national banks and lenders <a href=\"https:\/\/www.biggerpockets.com\/home-loans\" target=\"_blank\">here<\/a>, and if you are a Pro member, you can access special Pro-only Perks on the <a href=\"https:\/\/www.biggerpockets.com\/perks\/pro\" target=\"_blank\">Pro Perks page<\/a>.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-77299\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/03\/rehab-mistakes.jpg\" alt=\"rehab-mistakes\" width=\"702\" height=\"336\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/03\/rehab-mistakes.jpg 702w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/03\/rehab-mistakes-300x144.jpg 300w\" sizes=\"auto, (max-width: 702px) 100vw, 702px\" \/><\/p>\n<h2>5. Contractor and Handymen<\/h2>\n<p>I\u2019m not an investor. However, I do own a home and have hired multiple handyman, electricians, etc. Not easy.<\/p>\n<p>Brandon\u2019s advice is to find a contractor, handyman, or other member of the home service profession to be your go-to.<\/p>\n<p>We have a great solution to help you 1) find a service professional you can trust (and add to your team!) and 2) get help immediately if you are unable to use the person you have on your team.<\/p>\n<p>We built a \u201cFind a Contractor\u201d page in September. On this page, you can look at the hundreds of types of home service needs.<\/p>\n<p><em>Note: Home services is not just for a house. It extends to apartments, commercial work, and other scenarios. It\u2019s just a nice catch-all phrase. <\/em><\/p>\n<p>You can also submit an emergency request through this page. For example, click into &#8220;Handyman.&#8221; As you fill out the information on the page, you\u2019ll notice the third\u00a0question is: \u201cIs this an emergency?\u201d<\/p>\n<p>You can say \u201cyes,\u201d and you will get connected with handymen who are available that day!<\/p>\n<p>We are working on an even better integration to offer you access to scheduling contractors too. Just wait!<\/p>\n<p><strong>BiggerPockets Resource: <\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/www.biggerpockets.com\/contractors\" target=\"_blank\">Find a contractor page<\/a>! Disclosure: We partnered with a leader in the home services space to make finding home improvement professionals as easy as submitting a request and waiting for phone calls.<\/li>\n<\/ul>\n<h2>6. Bookkeeper<\/h2>\n<p>I am going to use Brandon\u2019s words:<\/p>\n<p>\u201cAlthough you are entirely capable of doing your own books, you may want to hire a bookkeeper to keep track of income and expenses and to get your finances tax ready.\u201d<br \/>\n<em><br \/>\n<strong>Related:<\/strong> <a href=\"\/renewsblog\/effective-real-estate-team\" target=\"_blank\">How to Build a Highly Effective Real Estate Team<\/a><\/em><\/p>\n<h3>BiggerPockets Resource:<\/h3>\n<ul>\n<li>Company page for bookkeepers: <a href=\"https:\/\/www.biggerpockets.com\/companies\/lending-finance\" target=\"_blank\">Lending\/finance company page<\/a><\/li>\n<\/ul>\n<h2>7. CPA<\/h2>\n<p>Don\u2019t commit tax fraud. Enough said.<\/p>\n<p>Oh, and also, ask for advice. We have multiple finance forums where you can talk to experts and ask questions. For instance, do you want a recommendation for investor-friendly CPA who lives within 50 miles? Ask the BiggerPockets community!<\/p>\n<h3>BiggerPockets Resource:<\/h3>\n<ul>\n<li>Forum to explore: <a href=\"https:\/\/www.biggerpockets.com\/forums\/51-tax-legal-issues-contracts-self-directed-ira\" target=\"_blank\">Tax, Legal Issues, Contracts, Self-Directed IRA<\/a><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-84293\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/12\/tax-changes.jpg\" alt=\"tax-changes\" width=\"702\" height=\"336\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/12\/tax-changes.jpg 702w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/12\/tax-changes-300x144.jpg 300w\" sizes=\"auto, (max-width: 702px) 100vw, 702px\" \/><\/p>\n<h2>8. Lawyers<\/h2>\n<p>Can you tell that with bookkeepers, CPA\u2014and now lawyer\u2014I\u2019m a little in over my head? These are smart people. Let them help you.<\/p>\n<h3>BiggerPockets Resource:<\/h3>\n<ul>\n<li>Forum to explore: <a href=\"https:\/\/www.biggerpockets.com\/forums\/51-tax-legal-issues-contracts-self-directed-ira\" target=\"_blank\">Discussion for Tax, Legal Issues, Contracts and Self-directed IRA<\/a><\/li>\n<\/ul>\n<h2>9. Insurance Agent<\/h2>\n<p>\u201cToday I have a great agent who can shop numerous companies for the best policy and can change policies as needed while keeping all my paperwork in his office.\u201d<\/p>\n<p><em>Be more like Brandon. <\/em><\/p>\n<h3>BiggerPockets Resource:<\/h3>\n<ul>\n<li>Ask questions and meet experts in the <a href=\"https:\/\/www.biggerpockets.com\/forums\/95-property-insurance\" target=\"_blank\">Property Insurance Questions &amp; Discussions<\/a> forum<\/li>\n<\/ul>\n<h2>10. Property Manager<\/h2>\n<p>Like a broken record now.<\/p>\n<h3>BiggerPockets Resource:<\/h3>\n<ul>\n<li>Company page for property managers: <a href=\"https:\/\/www.biggerpockets.com\/companies\/property-management\" target=\"_blank\">Property Management<\/a><\/li>\n<\/ul>\n<p>I hope it helps to know that BiggerPockets can assist you as you build your team!<\/p>\n<p><a href=\"https:\/\/www.biggerpockets.com\/webinars?utm_source=newsletter\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-91217\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/08\/blog_ads-01.jpg\" alt=\"\" width=\"700\" height=\"85\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/08\/blog_ads-01.jpg 700w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/08\/blog_ads-01-300x36.jpg 300w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/a><\/p>\n<p><em>Who&#8217;s an essential real estate team member who wasn&#8217;t listed above?\u00a0<\/em><\/p>\n<p><strong>Tell me below.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I want to use this article as a reminder of how BiggerPockets has grown into a resource with multiple ways to help you create your successful 10-member team.<\/p>\n","protected":false},"author":204011,"featured_media":90878,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4241],"tags":[],"class_list":["post-104167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-business-management"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/104167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/204011"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=104167"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/104167\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/90878"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=104167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=104167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=104167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}