Portland Oregon · Member since 2021 · 49 posts · 13 votes
Hello,
My name is Antony F Munoz, from Portland Oregon, and I am working towards my first REI deal. I am in the process of trying to build a team. What are important questions to ask people I am interviewing when trying to determine if we are a good fit? I really appreciate any and all responses!
Investor · San Diego, CA · Member since 2016 · 1k+ posts · 975 votes
5y
@Antony Munoz Congrats on making the decision to get your first property! The first one will be challenging for sure, but you will learn a lot and it will be WELL worth all the effort - I promise! Have you read David Greene's book "Long-Distance Real Estate Investing" and his "BRRRR" book? Both focus on the importance of putting a great team together, whether you are investing where you live or out of state. He also mentions a lot of questions you should ask potential members of your team.
I can't remember them all, but you definitely want to have folks that regularly work with investors. We investors can be a pain to deal with sometimes, and it's very different working with us than people who are buying, financing, and making improvements on primary residences. Also, make sure you get lots of references and follow up with those references!
If you hire someone and realize later that they are not a good fit for you and your strategy, do not hesitate to move on from them! Hire slowly and fire quickly!
Hopefully, that helps, and keep us updated on your journey.
Real Estate Agent · Member since 2020 · 32 posts · 5 votes
5y
Anthony,
we are realtors and investors here in Beaverton. Actually got into contract on behalf of another bigger pocket investor today for a great deal with a ADU. If you'd like to chat lets connect!
Real Estate Agent · Portland, OR · Member since 2016 · 1k+ posts · 605 votes
5y
Hey Anton, I would be happy to introduce you to all my other contacts (contractors, lenders, hard money, etc) as well as give you all my tools for property mangament.
Investor · Kansas City, MO · Member since 2015 · 48 posts · 165 votes
5y
@Antony Munoz You need to get a clear understanding of your goals first. Then tailor your questions to the potential team members you are vetting. For example, if you are looking for passive income, then a specific set of questions would apply to creating a long term portfolio. But if you are looking to do a short term flip, then it would be a whole different set of questions. Either way you can ask if they would be a good fit for a new investor, not all companies want to work with "newbies". But some companies thrive on training and educating you along the way. If you decide your goal is passive long term income PM me directly and I can get you some great questions to ask.
@Antony Munoz Congrats on making the decision to get your first property! The first one will be challenging for sure, but you will learn a lot and it will be WELL worth all the effort - I promise! Have you read David Greene's book "Long-Distance Real Estate Investing" and his "BRRRR" book? Both focus on the importance of putting a great team together, whether you are investing where you live or out of state. He also mentions a lot of questions you should ask potential members of your team.
I can't remember them all, but you definitely want to have folks that regularly work with investors. We investors can be a pain to deal with sometimes, and it's very different working with us than people who are buying, financing, and making improvements on primary residences. Also, make sure you get lots of references and follow up with those references!
If you hire someone and realize later that they are not a good fit for you and your strategy, do not hesitate to move on from them! Hire slowly and fire quickly!
Hopefully, that helps, and keep us updated on your journey.
Hey Douglas Spence,
I really appreciate you taking time out of your day to leave me a meaningful response! I have not read those books yet, but I will have to give them a look. I just finished Rental Property Investing and began Managing Rental Properties by Branden Turner. Thank you, for the great advice, I will definitely keep asking questions on this forum along my journey!
we are realtors and investors here in Beaverton. Actually got into contract on behalf of another bigger pocket investor today for a great deal with a ADU. If you'd like to chat lets connect!
@Antony Munoz You need to get a clear understanding of your goals first. Then tailor your questions to the potential team members you are vetting. For example, if you are looking for passive income, then a specific set of questions would apply to creating a long term portfolio. But if you are looking to do a short term flip, then it would be a whole different set of questions. Either way you can ask if they would be a good fit for a new investor, not all companies want to work with "newbies". But some companies thrive on training and educating you along the way. If you decide your goal is passive long term income PM me directly and I can get you some great questions to ask.
Hey Scott Lundgren,
Thank you for leaving me a response, I really appreciate it! You bring up a very good point! I am currently trying to create a solid personalized REI strategy and I am leaning more towards long-term passive income. I will definitely have to take you up on your offer!