Getting started with a team

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Getting started with a team

John Tapley
San Jose, CA · Member since 2014 · 11 posts · 1 vote

Hey BP,

I'd love to get started in RE investing. I'm thinking that the best way to get started is to assemble a small team so I can hit the ground running on *out of state buy and holds. These are the folks I think I should work with locally to where I live:

- Attorney for contracts, entities etc.

- CPA for taxes, tax planning etc.

- Finance sources

Local to where I buy:

-  Property manager, contractor/handyman, agents/wholesalers

Is this a reasonable approach? Should I look for an attorney in each state? Anyone else not on the list?

*Out of state investing, since California looks a bit hot and cash flow in a decent neighborhood seems really tough for a newbie. Please correct me if this is wrong... I'd love to get started close to home.

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  • George P.
    Property Manager · Livonia, MI · Member since 2011 · 4k+ posts · 1k+ votes
    10y

    you dont assemble a team and then start investing.

    you start investing and then you assemble a team by trial and error.

    what's their incentive to be on "your team"? how are you going to pay them? "IOU"?

    1Reply
  • John Tapley
    OP
    San Jose, CA · Member since 2014 · 11 posts · 1 vote
    10y

    I should have been more clear... Team people are paid money for their services and their services are contracted.

    0Reply
  • Arlan Potter
    Investor/Accountant/Builder · Meno, OK · Member since 2014 · 1k+ posts · 918 votes
    10y

    I would advise starting close to home. Something you can drive by.

    0Reply
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