What kind of person do you need?

Question

As a newbie investor I'm hungry for and interested in providing value to anyone who helps me along in my investing journey. For anyone more seasoned than me (all of you, every single one), what member of your team turbo charged your journey and why? What door did they help you open? Have you been able to turn around and open that door for someone else?

Nathan Harden · Answer

I think that the 2 most crucial people starting out will be your lender and realtor. The reason that I say these two is because you are going to need a lender on every transaction (except for creative deals).

Also, an agent will be the one to open doors for you as they appear. Get a good agent though. Someone who understands investing and has their hands in the off-market properties as well.

But Nathan, why not a contractor? A contractor isn't always crucial if you are just starting out. You may be looking for turnkey or just light cosmetic fixers to get your toes wet. Small projects to start out are the way to go, don't bite off more than you can chew. Those first few properties, everything you need to do (turnkey or light rehab) will all be on Youtube University if you aren't sure how to install floors, paint, fixtures, etc.

Zach Lemaster · Answer

@Zach Strong

Welcome!  Your team is essential to success long term.  Each person is in a different stage of their investing career depending on your experience level, goals, resources, time, capital, etc.

Can you clarify more what your goals are so we can be more specific with recommendations?  Are you looking to learn, raise money/find deal partners, or just looking to get into that first investment property that you plan on financing yourself?

Generally speaking, I think having a quality agent/broker is essential, but make sure they are an experienced investor themself.  I also think having the right lender and property manager are very essential as well regardless of market.  As you grow your portfolio, I recommending finding a real estate savvy CPA/tax strategist, attorney or LLC specialist.

Early on, finding a quality mentor or expert in the niche of investing you are looking to do is probably the most important person to connect with early on that could likely help you piece together or recommend all the other professionals mentioned above!

-Best of luck!

Zach Strong · Answer

@Nathan Harden thanks for the insight. What inspired you to become an agent? Has it helped in ways you didn’t expect as an investor?