Updated about 5 years ago on . Most recent reply
Newbie Investor - want to create my team before diving in!
Planning to start investing in single family homes in the New Haven, CT area by early next year. Absorbing as much info as I can and saving in the meantime. I want to create my 'team' of folks (realtor, handyman, small contractor if needed, attorney, accountant) by then. Any suggestions on how to do this? I was planning to contact my realtor that I used to purchase my original home that I live in now. I want to spend this time getting prepared. Any suggestions on creating my group of folks before pulling the trigger??
Anyone just use Thumbtack or Homeadvisor? Besides securing financing and reading more about investing, what else can I do these few months??
Thank you everyone in advance!! Your advice is priceless!!
Most Popular Reply
@Kunal Domakonda
I started early last year. This is what I think worked for me
1. Real estate agent- found two amazing real estate agents in the two cities I have invested in. One of the agents is an investor himself and does out of state investing as well. He helped a lot with the locations to focus on and helped me network with good lenders and reached out to other investors if he could not answer a question himself.
2. Property manager- This was critical in my first purchase because I didn't visit the property. She knew everything about the location from schools to crime rate to rents and any info that is needed to make a decision. The second agent I use is also a property manager.
The above two were very important. I interviewed a lot of agents and property managers before finalizing. Handyman, lawyer (in case I need help with code violations ) came from agent's network.
3. Home inspector- I found him by accident but he has been crucial in price negotiations.I make sure I look at the property when he is on site and about to finish his inspection.
A team can save you time and money.