Updated about 19 hours ago on . Most recent reply
Building a team.
Hey everyone!! I'm knowledge and story searching. When you first got started how did you start your team brokers,agent's, contractor, legal etc? Did you treat it as if you were leading a job interview? Did you seek them out based off there past experience and success? Did one member connect you to another? What are some good questions you have asked to make sure they would fit in personally as well so you know you will get along? Looking forward to reading!
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#3 Classifieds Contributor
- Real Estate Agent
- Metro Detroit
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#3 Classifieds Contributor
- Real Estate Agent
- Metro Detroit
While building your team, it's important you understand the motivations of everyone on your team.
Property Management Company (PMC): No one else on your team should be as vested in a long-term relationship with you as a PMC. They will have to manage whatever you buy on a daily basis until you sell the property or terminate them. You need to find a good one though, that is honest & competent. An honest PMC's incompetency will still cost you.
Investor-Friendly Agents: many incompetent agents are just looking for a commission:( 95%+ are not investors themselves, so how are they really going to help an investor besides writing up an offer? You want an agent that knows how to help you properly evaluate a rental.
Inspector: You want an unbiased and competent professional that will properly do their job and document it.
Contractor: Finding contractors that don't cut corners and overcharge is EXTREMELY difficult. Even if they are referred, you really don't know until AFTER they've done a job. The other 3 above should be able to provide referrals, but don't blindly trust anyone!
- Michael Smythe
