A Dozen Contacts Every Investor Can't (or Shouldn't) Live Without

[StacyA McBain]

Whether you're an avid investor or just getting started, below is a list of connections I recommend saving in your phone, if they're not there already. We not only shared this list at last month's AVID Investors meeting- An Idaho Real Estate Investor's Club - we also powered up our power teams and introduced some actual contacts.  

This month, AVID Investors meets Wednesday, May 18th and the topic is "The Most Important and Forgotten Element in Real Estate Investing." Based on the list below - you might derive the exact role we'll discuss! PM me if you'd like an invitation.

A Dozen Contacts Every Investor Can't (or Shouldn't) Live Without

1. Asset/business Manager

An often forgotten, but very important role

2. Lender

Commercial >4; residential <4; and possibly private (hard money)

3. Investment Specialist Agent, Brokerage and/or Team

Using an agent in the investment niche’ can have a large impact on the level of service, expertise and overall quality of investment you land. (Just ask our clients)

4. Title Company

We recommend TitleOne in Ada/Canyon County with extended coverage

5. Home Inspector

Ask about exclusions/recommended upgrades e.g. radon, chimney, engineering

6. Insurance Agent

7. Property Neighbor & Other Investors

The ng

8. Accountant

Find out if you’re getting write-offs, tax advantages and if you’re qualified to receive higher loss limits by spending 750 hours or 50% of your time self-managing.

9. Attorney

Are you buying in your name or an LLC's name, using trust or otherwise protected?

10. Local Utilities (for more than just utility service)

They also trim trees off power lines and check into gas smells. Continuous service agreements are a great idea for landlords.

11. Property Manager

Choose your manager wisely. Our "How to Choose a Property Manager” handout is available upon request from me, StacyA McBain, Kelly Turpin of Swope Investment Properties who presented on this topic at AVID.

12.Handyman /Contractor

DIY MANAGERS ALSO NEED CONTACTS THAT PROPERTY MANAGERS MAINTAIN:

Painter

Roofer

Cleaner - Tips and products: Don Aslett cleaning supplies

Concrete/Excavation

Carpet Cleaner - Pressure washer for exterior, full-service janitorial

Mold Remediation

Chimney

Pest Control

Appliance Repair

Flooring

Supplies

HVAC

Plumber

Electrician

Landscaper/sprinkler tech

Assessor’s office

Gutter cleaners