My wife and I are just starting out into REI and are reading, listening, going to seminars on ALL things REI. We have settled and decided to concentrate on multi-family homes, namely duplexes for now. My question is this, what sort of team do you need? Who all do you need to work with?
Mortgage person (bank)
Real estate attorney
Is there anyone else?
@Quentin Brown you most likely don't need an attorney unless you are in a state that requires it for sale or you need someone to draw up leases. I would suggest a property manager instead.
@Quentin Brown this also depends on where you will be investing. Will you be buying in your area or out of area?
Possibly a property manager
Potentially a hard money and or private money lenders.
I would also recommend you finding more than one option even if you have a core team. In other words have more than one lender to give you quotes as well as contractors. That way one might be available when the other isn’t or might possibly have better rates.
@Quentin Brown in that case it looks like you are set to go. Just get started. It’s what most people don’t do.
You might also add insurance agent to the list if it’s not already on there...
@David Braut ah don't know how I forgot insurance agent. smh. It's a lot of information to process and I completely understand the analysis paralysis.
Welcome to Bigger Pockets. We are here to help.
You need an accountant that works with real estate investors and understands real estate taxation.
You need education and/or a mentor. Check out the Georgia Real Estate Investors Association for education and networking. They have many monthly educational meetings.
Good luck on your real estate journey.