What should a realestate team look like

Question

So when your starting out in realestate or have 50 units what is a team, what does it look like, an what kind of different people should be on it, (people with what roles should be on it)

Daniel Hyman · Answer

Good advice from @Caitlin Dickson.

I would add a property manager to the list. They are often a wealth of information about local markets.

Caitlin Dickson · Answer

@Menno Swartzentruber I am new to real estate and still researching. But based off what I’ve read, the key people you want on your real estate team is a real estate agent, a lender, a contractor/handyman, and an attorney. The key is developing good relationships with each.

The real estate agent brings value buy generally knowing in depth information about the market and has several connections. I’ve started talking to Real Estate Agents and they’ll recommend lenders.

Lenders can be from typical big banks but most people have recommended mid-size local companies in the area. Or it could be financed through other people’s money (friend,family, partners)

A good contractor/handyman is helpful because there will always be repairs needed.

An attorney is key to make sure everything is done legally and to protect you to make sure you are not getting ripped off. They know the real estate laws and anything related.

For scaling purposes a CPA would be good to advise you on how to legally benefit with tax write offs but also make sure you won’t run into any problems in the future.

Again take anything I say with a grain of salt and definitely do your own research but that’s what I’ve learned so far. I welcome anyone else with more experience and other insights to add on to what I said.

I wish you the best of luck Menno!