Building a team to aquire small multi-family
I am looking to aquire small multi-family properties (8 to 32 units) in the Houston metro area. I am on the stage of building a team. Does anyone know of a good attorney and accountant in the Houston area with experience in multi-family properties?
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I can tell you that I've bought about 2000 units without a 'team'. No attorney or accountants. Why do you think you need those? If you want attorney advice, once you have a property under contract, just find a fee based attorney and pay for a few hours of their time (though again, in 100 (?) or so buys/sells I've never needed an attorney and I've done deals that were $1m, $5m, and more in size)
And why do you need an accountant on your team? At over 1500 units, I still don't have a bookeeper or accountant. I do have someone that works in our office to help make sure our single water bill is split into the various properties it belongs to and stuff like that, but until I had about 500 or so units, I did all of it myself.
I don't want to sound like a d**k, but when I see someone start with "I'm looking to build a team" that's a giant red flag and I can be pretty sure that person if very unlikely to buy.
Focus on these three things only at this point:
1) How do I get money for my down payment
2) Who's going to lend me my ~75% once I have my down payment
3) How to find the properties I want to buy
The rest is noise and really just done to make people think they're moving forward towards their goal when they're not