Who's your MVR (most valuable relationship) in RE investing?

Lender · Tampa/Saint Petersburg, FL · Member since 2014 · 356 posts · 148 votes

If you could only keep one professional in your investing network, who would it be and why?

CPA? Lender? Realtor? Property manager? Contractor? Insurance broker?

If you've met someone through BiggerPockets who's been a game changer, tag them! I'd love to discover more great people in the community.

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Richard F.

Honolulu, HI · Member since 2008 · 3k+ posts · 2k+ votes

1mo

Your choice of Contractors will make you or break you. When you find a good one, treat them like Gold!

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Amber Stout
OP
Lender · Tampa/Saint Petersburg, FL · Member since 2014 · 356 posts · 148 votes
2mo
This is actually a really hard question because I genuinely value every relationship on my team.

If I'm actively acquiring properties, I'd probably say an investor friendly realtor, someone who invests themselves, has great connections and off markets, understands creative deal structures, and knows how to analyze an investment instead of just opening doors. I know several great realtors that fit this description.

Long term, though, I'd probably choose a CPA who truly understands real estate tax strategy. A great CPA can save you far more than they cost and help you make better decisions as your portfolio grows.

That said, I don't think successful investors build their business around one relationship. It's having the right TEAM that makes the biggest difference.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
2mo
If I had to pick one it would be my commercial banker full stop. 30 year relatioinship.. Pulled me through the GFC when the feds wanted to call all my lines of credit and put me out of business.. funded multiple subdivsions from horizontal to vertical.. Lending line of credit.
BIG unsecured line so I can buy court house steps etc etc.
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Amber Stout
OP
Lender · Tampa/Saint Petersburg, FL · Member since 2014 · 356 posts · 148 votes
1mo
@Jay Hinrichs This is an incredible answer. Having a banker/lender who actually understands what you’re trying to build instead of just looking at the one transaction in front of them can be huge. 30 years is a heck of a relationship too
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- Jay HinrichsBusiness Member
  Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
  1mo
  Quote from @Amber Stout:
  
  @Jay Hinrichs This is an incredible answer. Having a banker/lender who actually understands what you’re trying to build instead of just looking at the one transaction in front of them can be huge. 30 years is a heck of a relationship too
  
  deposit relationships are critical also you cant just have 10k in a checking account :)
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Richard F.
Honolulu, HI · Member since 2008 · 3k+ posts · 2k+ votes
1mo
Your choice of Contractors will make you or break you. When you find a good one, treat them like Gold!
2 Reply
Jules Aton
MD/DC · Member since 2024 · 1k+ posts · 1k+ votes
1mo
Contractor followed by Realtor.
0 Reply
Garrett BrownPro Member
Rental Property Investor · Houston, TX · Member since 2024 · 505 posts · 551 votes
1mo
I'd vote Contractor followed by real estate agent as well for my long term rentals.

My short-term rentals has definitely been has been more real estate agent, CPA, and lender with contractor still very important.

[email protected]
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Richard F.
Honolulu, HI · Member since 2008 · 3k+ posts · 2k+ votes
1mo
@Garrett Brown, I would think it would be the Cleaning Crew! Turnovers rely on quick, timely, and absolutely thorough preps for STR. Mistakes quickly cascade if your bookings are up.
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Pouyan BroukhimBusiness Member
Los Angeles, CA · Member since 2016 · 64 posts · 19 votes
1mo
Mortgage lender. Without financing you can't really buy anything. So knowing your financing options is key to any successful real estate transaction/relationship
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V.G JasonPro Member
Investor · Member since 2022 · 3k+ posts · 3k+ votes
1mo
Banker.
No deal happens without the banker.
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Greg Kasmer
Rental Property Investor · Philadelphia, PA · Member since 2021 · 774 posts · 501 votes
1mo
@Amber Stout - As others have responded I think this changes throughout your investing career. I think if you're still scaling and building your portfolio through renovation projects my vote would be a consistent contractor partner - I've had several lenders and brokers reach out and discuss their services with me, but very few contractors reach out proactively (if at all) so for me, it's finding a great contractor. Thanks!
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Shiloh LundahlPro Member
Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
1mo
@Amber Stout my answer might defend people because people often think that they are much better than they are and that they provide a lot more value than they do.

I wouldn't say it's a Banker. I get calls and emails from bankers every day seeing if I want to get loans from them for my real estate properties. They are a dime a dozen and they almost all have the same lending guidelines.

I wouldn't say it's a Realtor. Realtors are a dime for two dozen. And the majority of them only find things on the MLS or sell things on the MLS. so if I can get access to the MLS without a realtor, then they're pretty easily replaceable.

The most important person on my team to where when I've had this type of person my business is grown, and when I haven't, my business has either stalled out or declined, it's having a rockstar Assistant. having an amazing Assistant is worth having an entire team. because an amazing assistant can help you build a team very quickly with other amazing people. they help you keep your life organized and they help you with your projects and your properties. right now I have an amazing Assistant and I have zero vacancies. she's able to get my properties filled very quickly, manage my projects, manage my short-term rentals, and do a ton of miscellaneous things.

A good assistant is definitely the most important person on my team.
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- Jay HinrichsBusiness Member
  Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
  1mo
  Quote from @Shiloh Lundahl:
  
  @Amber Stout my answer might defend people because people often think that they are much better than they are and that they provide a lot more value than they do.
  
  I wouldn't say it's a Banker. I get calls and emails from bankers every day seeing if I want to get loans from them for my real estate properties. They are a dime a dozen and they almost all have the same lending guidelines.
  
  I wouldn't say it's a Realtor. Realtors are a dime for two dozen. And the majority of them only find things on the MLS or sell things on the MLS. so if I can get access to the MLS without a realtor, then they're pretty easily replaceable.
  
  The most important person on my team to where when I've had this type of person my business is grown, and when I haven't, my business has either stalled out or declined, it's having a rockstar Assistant. having an amazing Assistant is worth having an entire team. because an amazing assistant can help you build a team very quickly with other amazing people. they help you keep your life organized and they help you with your projects and your properties. right now I have an amazing Assistant and I have zero vacancies. she's able to get my properties filled very quickly, manage my projects, manage my short-term rentals, and do a ton of miscellaneous things.
  
  A good assistant is definitely the most important person on my team.
  
  Shiloh Good morning I submit you have never found the right LOCAL commercial Banker But staff your right can make or break you.
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- Shiloh LundahlPro Member
  Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
  1mo
  Quote from @Jay Hinrichs:
  
  Quote from @Shiloh Lundahl:
  
  @Amber Stout my answer might defend people because people often think that they are much better than they are and that they provide a lot more value than they do.
  
  I wouldn't say it's a Banker. I get calls and emails from bankers every day seeing if I want to get loans from them for my real estate properties. They are a dime a dozen and they almost all have the same lending guidelines.
  
  I wouldn't say it's a Realtor. Realtors are a dime for two dozen. And the majority of them only find things on the MLS or sell things on the MLS. so if I can get access to the MLS without a realtor, then they're pretty easily replaceable.
  
  The most important person on my team to where when I've had this type of person my business is grown, and when I haven't, my business has either stalled out or declined, it's having a rockstar Assistant. having an amazing Assistant is worth having an entire team. because an amazing assistant can help you build a team very quickly with other amazing people. they help you keep your life organized and they help you with your projects and your properties. right now I have an amazing Assistant and I have zero vacancies. she's able to get my properties filled very quickly, manage my projects, manage my short-term rentals, and do a ton of miscellaneous things.
  
  A good assistant is definitely the most important person on my team.
  
  Shiloh Good morning I submit you have never found the right LOCAL commercial Banker But staff your right can make or break you.
  
  @Jay Hinrichs Your right. I do need to find a real banker who is able to understand banking and scaling and lines of credit rather than just bankers of big banks that just follow the guidelines and don't think for themselves or calculate risk themselves.
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  0 Reply
- Jay HinrichsBusiness Member
  Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
  1mo
  Quote from @Shiloh Lundahl:
  
  Quote from @Jay Hinrichs:
  
  Quote from @Shiloh Lundahl:
  
  @Amber Stout my answer might defend people because people often think that they are much better than they are and that they provide a lot more value than they do.
  
  I wouldn't say it's a Banker. I get calls and emails from bankers every day seeing if I want to get loans from them for my real estate properties. They are a dime a dozen and they almost all have the same lending guidelines.
  
  I wouldn't say it's a Realtor. Realtors are a dime for two dozen. And the majority of them only find things on the MLS or sell things on the MLS. so if I can get access to the MLS without a realtor, then they're pretty easily replaceable.
  
  The most important person on my team to where when I've had this type of person my business is grown, and when I haven't, my business has either stalled out or declined, it's having a rockstar Assistant. having an amazing Assistant is worth having an entire team. because an amazing assistant can help you build a team very quickly with other amazing people. they help you keep your life organized and they help you with your projects and your properties. right now I have an amazing Assistant and I have zero vacancies. she's able to get my properties filled very quickly, manage my projects, manage my short-term rentals, and do a ton of miscellaneous things.
  
  A good assistant is definitely the most important person on my team.
  
  Shiloh Good morning I submit you have never found the right LOCAL commercial Banker But staff your right can make or break you.
  
  @Jay Hinrichs Your right. I do need to find a real banker who is able to understand banking and scaling and lines of credit rather than just bankers of big banks that just follow the guidelines and don't think for themselves or calculate risk themselves.
  
  your a prime candidate for a local Community bank that is business focused and does real estate not all community banks will do / or focus on RE but there those that do especially in a market like yours.. start small and work up Deposit relatoinships are critical. ALL your accounts they look at those and that will help determine the value of your business to them past just making a loan on a property or giving you a LOC.. I suspect at one of your retreats there has to be those that come to those that have utilized this type of financing.. I have moved to Vegas from PDX but when I lived there for the last 25 years I went to lunch with my banker at least once every 60 days.. And I would take him to look at projects I wanted to do.. You know kick the dirt so when he took us to loan committee (if the loan was over his approval limit) he would be able to tell them he personally veiwed it.. And on bigger projects I did with them I had the bank president and head credit officer come and tour the project. Makes a huge difference these personal relationships with these types of banks.. On the flip side though you do have to provide annual to semi annual reporting you know PFS and year to date along with tax returns annually. For this though you get to borrow at bank rates instead of private money rates and until the rates changed I was borrowing MILLIONS at 5% and 1/2 A POINT . now we are at 6.5 and 1/2 for unsecured LOC and semi secured..
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Mohammed Rahman
Real Estate Broker · New York, NY · Member since 2020 · 2k+ posts · 1k+ votes
1mo
I think every relationship serves a different purpose, so it’s hard to pick one. Your lender, CPA, contractor, property manager, and agent are all different pieces of the same puzzle. If one piece is missing, the picture can look very different.

If I had to pick one for a newer investor, though, I’d probably go with the lender. Financing can make or break a deal, and having someone who can help you understand your options and structure the numbers is incredibly valuable when you’re just getting started.

As you build a portfolio, I think the answer changes depending on what your biggest bottleneck is.
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Kyle MccawBusiness Member
Property Manager · Keller, TX · Member since 2011 · 1k+ posts · 1k+ votes
1mo
@Amber Stout
It really depends on you and your weaknesses. The most valuable relationship is usually the person who complements what you’re not great at.

If you’re great at finding deals but struggle with financing, a great lender may be your MVR. If you’re a rockstar at managing properties yourself, a property manager probably isn’t nearly as valuable to you.

For me, one of the biggest game changers was meeting the right wholesaler. He provided a consistent pipeline of good properties for several years, and that helped me scale.

Early on, my lender was also incredibly important. Today, financing is much easier for me to find, so that relationship isn’t as critical as it once was.

Your MVR can change as your business grows. Figure out where your biggest bottleneck is today, then build a great relationship with the person who can remove it.
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Denise SuppleeBusiness Member
Realtor · Willow Grove, PA · Member since 2017 · 979 posts · 642 votes
1mo
Hello @Amber Stout I love this question! I will tell you as someone who has invested in my own properties and managed properties for others for over 40 years.... a good and trustworthy property manager, who just doesn't tell you what you want to hear. The other is contractors. I have had my ups and downs with them and finding a good one is like gold! And, one last one is a good tenant. Once you have one, treat them well. I have had nightmares with tenants and when I get a good one, I am beyond thankful! Good luck!
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Amber Stout
OP
Lender · Tampa/Saint Petersburg, FL · Member since 2014 · 356 posts · 148 votes
1mo
@Shiloh Lundahl That's a great perspective and I can completely understand that. I think at various stages in this business, certain people become more important or valuable depending on what the business needs at that time.
I appreciate you sharing your perspective. On the real estate investing side, I don't necessarily feel that way however I'm not actively working on that business day to day. On the lending side it's a much more active day to day business. I'd say my team, especially my assistants, are probably the most important to me. They allow me to stay higher level, focus on clients and growing the business, without getting pulled into every little detail.

They don't just take tasks off your plate, they give you leverage. The right person lets you spend more time doing the things that actually move the business forward.
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Amber Stout
OP
Lender · Tampa/Saint Petersburg, FL · Member since 2014 · 356 posts · 148 votes
1mo
@Denise Supplee Great points, especially on the tenant side. A great tenant can make owning a rental feel almost passive, while the wrong one can quickly remind you that it definitely isn't 😂

I started out house hacking, so I learned pretty early how valuable it is to find good tenants and then actually treat them well. I think that part sometimes gets overlooked. We spend so much time talking about finding the right deal, contractor, property manager, etc., but keeping a great tenant can have a BIG impact on the success of the investment and your time/energy!

Thanks for sharing your perspective after 40+ years in the business!
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Amber Stout
OP
Lender · Tampa/Saint Petersburg, FL · Member since 2014 · 356 posts · 148 votes
1mo
@Mohammed Rahman I agree, especially with your point that it changes as you grow. When I first started house hacking, I probably would have said the "investor friendly who had experience" lender and agent were the most important part.

Now being on the lending side myself, I see this all the time. A good lender isn't just someone who gives you a rate and gets the loan closed. Especially with investors, it's understanding the strategy and knowing which loan product fits that particular deal. Sometimes the financing can completely change what is or isn't possible.

And then add on the agent - if the agent knows how to negotiate and structure a great offer and works with the lender on that, that's invaluable.

As you grow though, I think your biggest bottleneck usually determines who becomes the most valuable person on your team.
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Caleb Brown
Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
1mo
Contractors then PM's. Both can make or break your investment
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