Just starting to build my A team

6 Replies

Hello everyone I’m so glad I found this forum. I joined less than a week ago and already found some great information on the site. I’m from the Bronx NY but I live in Md now. I will be purchasing multi units properties soon but I must and will build my A team first. that’s where I went wrong years ago. This time I will be prepared. When you started investing in five units and above, what would you do different now that you are wiser from the experience?  Any suggestions will be very much appreciated. 

I didn’t build a team even with a couple hundred units. The team is needed once you try to scale up. Although, you will need a good property manager unless you are going to do it yourself. Many spend a lot of time on team building when they could be looking at property and making offers. Even after you have an offer accepted you could make 10 calls and find financing, an attorney, an inspector and anyone else you need. It should take less than 2 hours. You could likely find good ones by talking to some of the other larger investors in your area. Find them by asking the top realtors. Also attend any investor meet ups locally. You may find your properties right there.

If you fill in your profile with experience it will help others help you better.

Originally posted by @Anthony Ladson :

Hello everyone I’m so glad I found this forum. I joined less than a week ago and already found some great information on the site. I’m from the Bronx NY but I live in Md now. I will be purchasing multi units properties soon but I must and will build my A team first. that’s where I went wrong years ago. This time I will be prepared. When you started investing in five units and above, what would you do different now that you are wiser from the experience?  Any suggestions will be very much appreciated. 

 So much depends.  Are you buying near or far?  Are you looking for turnkey investments or value add opportunities?  My group is currently looking for value add opportunities to maximize returns and preserve capital for further expansion.  And we are investing in areas far from where we live and work.  Which impacts a number of investment options. 

Originally posted by @Anthony Ladson :

Hello everyone I’m so glad I found this forum. I joined less than a week ago and already found some great information on the site. I’m from the Bronx NY but I live in Md now. I will be purchasing multi units properties soon but I must and will build my A team first. that’s where I went wrong years ago. This time I will be prepared. When you started investing in five units and above, what would you do different now that you are wiser from the experience?  Any suggestions will be very much appreciated. 

 Consider focusing on subgroups as well.  Since we are investing in Chicago we are part of that group.  The groups has been very helpful to me and our ventures.  I am going to post a question now.

Originally posted by @Anthony Ladson :

Hello everyone I’m so glad I found this forum. I joined less than a week ago and already found some great information on the site. I’m from the Bronx NY but I live in Md now. I will be purchasing multi units properties soon but I must and will build my A team first. that’s where I went wrong years ago. This time I will be prepared. When you started investing in five units and above, what would you do different now that you are wiser from the experience?  Any suggestions will be very much appreciated. 

 Get your money squared away 1st. Have lenders lined up. From there I'd talk with Agents who work at Brokerages that offer Full Service Property Management.

@Anthony Ladson

A lot of the same concepts some different terminology. Yet same rules applied. Still learning as we are rehabbing 16 unit. Ran into quite a few roadblocks on just emptying the place. Then the city and I did not see eye to eye. So huge delays and now we finally get things moving. Unlike others, I say have a team in place from contractors, lenders, or bank for a refi, management company.

If I can help ask away

Alex




Originally posted by @Anthony Ladson:

Hello everyone I’m so glad I found this forum. I joined less than a week ago and already found some great information on the site. I’m from the Bronx NY but I live in Md now. I will be purchasing multi units properties soon but I must and will build my A team first. that’s where I went wrong years ago. This time I will be prepared. When you started investing in five units and above, what would you do different now that you are wiser from the experience?  Any suggestions will be very much appreciated.