How to start REI team

5 Replies

I am currently living in OKC but moving to Kansas City in a month. I am wanting to purchase a multi family property, and I am new to REI. How should I go about assembling a team to purchase a property right now?

@Josiah Mosley It depends on how you plan to buy. Are you buying turn key or will you be doing everything yourself? With a turn key, all you have to do is find a good turn key company that you can trust where everything is done for you.

Mike D'Arrigo, Pinnacle Investment Properties, LLC | [email protected] | 800 348‑0956 | http://www.investwithpinnacle.com

Hey @Josiah Mosley best of luck on your move. 

Building a team is kind of a fluid process from my experience. Start off by researching who the best investor friendly real estate agents are and reach out to them. Find someone you're compatible with. If you don't plan on going the traditional MLS route, figure out who the best and most active wholesalers in KC are.

From there, I'd start talking with lenders in KC who are able to do the type of mortgage you are looking for. Everything else in terms of insurance agents, lawyers, property managers, etc kind of falls into place after that. 

Brandon Turner just did a great #askbp podcast all about this topic. It was Episode 25 if you want to have a listen.

Best of luck brother!

Medium regular logo   png file   quick print for sticker web  etcTyler Flagg MBA, Ragnar Realty, LLC | [email protected] | 405‑320‑9880 | http://www.ragnarrealty.com

Thank you for your input! Very helpful!

Originally posted by @Tyler Flagg :

Hey @Josiah Mosley best of luck on your move. 

Building a team is kind of a fluid process from my experience. Start off by researching who the best investor friendly real estate agents are and reach out to them. Find someone you're compatible with. If you don't plan on going the traditional MLS route, figure out who the best and most active wholesalers in KC are.

From there, I'd start talking with lenders in KC who are able to do the type of mortgage you are looking for. Everything else in terms of insurance agents, lawyers, property managers, etc kind of falls into place after that. 

Brandon Turner just did a great #askbp podcast all about this topic. It was Episode 25 if you want to have a listen.

Best of luck brother!

 Id echo your advice except one thing.

I always START with the property manager. Especially in a market you are unfamiliar with. It's worth it to find a good property manager and spend the time interviewing several. You want to work with one who you like dealing with and communicating with. Life is hard when you don't have one who you click with.

They are the first people to evaluate my potential purchases, because they are the ones who have boots in the ground in their respective markets, and are ultimately the ones who will be dealing with the prospective properties. A good property manager is worth their weight in gold. For what it's worth, most good property managers are real estate investors themselves, and are also agents/brokers. I only work with people on my team (PM, Insurance, Lenders, Agents) who are real estate investors themselves and own properties.

@ messaging @Josiah Mosley

Saw this a little late, but I moved to KC about 2 years ago and have acquired a couple multi-family properties since them. I have a pretty good in team in place from searching out deals, to completing work, to managing tenants. Let me know if you're still looking for additional input.

Regards,

Arun

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