Consultant for first deal?

Question

Is there such a thing as a consultant I can hire to guide me through my first deal? Or is that not a thing?

I've got ~$200k that I can allocate towards deposits, but really know nothing about housing construction, how much rehabs cost, how to assess the condition of a building, etc so not sure how to really approach a 'fixer upper' and all the steps involved.

Michael Plante · Answer

People do business with people they know and like

If it were me I would start by putting my picture on my account.  As well as my full name, city and state   As well as my experience and goals

Your results may vary

Alecia Loveless · Answer

@Sam J. I have formed a great relationship with my plow guy who is also my handyman/general contractor. He coordinates all my projects for me and has electricians, plumbers, spray foam insulation people, foundation experts, everybody you could need for a project cheap.

When I go look at a property I call him up and either go pick him up or he meets me at the property and we do a walk through with the realtors and he immediately tells me yes or no and how much it’s going to cost to get it rent ready or flip ready. Then if I pursue it he comes on the building inspection because he’ll be the one getting the work on the inspection done.

After that I handle the business end and after closing we jump in together and get the work done.

If you can build your team you will create relationships like this with people who will want to see you succeed and will help you out every step of the way. Start networking. Talk with people you know ask who they use. Your accountant might know a good handyman. Ask the person who cuts your hair. You never know who will give you the best recommendation.

At the end of the day my contractors moonlight for me. I pay them 1/3 of what I’d pay them if I went through their day job companies and the work is just as good. Network, network, network.

Erickson Sainval · Answer

There are consultants, mentors, coaches, and such that will do just that. You must VET them heavily to ensure you are not being swindled. Of course, the most important step though is to invest in yourself and learn what you are trying to do. Look for books, network with others that are doing what you would like.