How to Assemble Your Real Estate Dream Team

You can't do it alone. Here are the first team members you should hire to create your dream team.

If you're just getting into real estate, here's a quick lesson: You can't do it alone!

Just like any business, if you're serious about real estate you need to assemble a dream team that will help you build your business and accomplish your goals. If you think you can do it on your own, you'll be in for a rude awakening.

Building a dream team that can support you is the key to going far in real estate, as it will allow you to focus on what you're best at instead of getting bogged down in daily minutiae. Aside from that, you can then operate like a business owner versus a solopreneur in the trenches.

So, with that said, here are the 5 core team members that you need to hire—and the order in which you need to hire them.

1. A specialized CPA

The first team member you should hire is a CPA that understands the real estate world—especially buying and selling on terms. You need someone who knows all of the intricacies of the real estate world and can help you sort out your financials so you don't have to worry about them.

We've been working with the same CPA for years in our buying and selling entity who knows every part of our business—and we'd be lost without them.

2. A real estate attorney

Just like you need a CPA who understands the real estate world, you need an attorney who does as well. In the terms niche, you also need to find someone who is willing to work with you on rent to own deals.

We've been working with a great attorney for years now who has written all of our agreements. He's spent literally hundreds of hours on these, and all of our Associates benefit from those and get to use them in their own deals. We've also spent years honing in on these agreements and tightening them up.

When we first started buying and selling on terms, our agreement was about a page and a half long. Now, it's over seven pages.

Besides working on agreements and other legal documents, an attorney can help you navigate tricky situations or questions while negotiating with sellers. That way, you can spend more time focusing on what you do best.

3. A realtor

The first two should be your main priority. Once you've hired a CPA and an attorney, however, you can start looking for the rest of your dream team. One of those people will be a realtor.

Now, we are not realtors and we don't use realtors in our deals. However, we do often interact with realtors and develop mutually beneficial relationships. What you want to do is find a realtor who is willing to help you in the terms niche. That means someone who can refer buyers and sellers to you who might be a good fit. On the flip side, you can then refer buyers and sellers to them who maybe aren't the best fit for terms, but would be a good fit for them.

This is a great person to have on your team, although not necessary in the beginning.

4. A virtual assistant

Now we're starting to get people who can actually take significant amounts of work off your plate so you can focus on higher-level tasks. A virtual assistant is a fantastic addition to your team, as they will be able to help you with calling outbound sellers and buyers. Eventually, you can likely train them to own that role entirely.

Once you start doing deals on a regular basis, you're going to become very busy. A good virtual assistant will quickly become a core member of your team. Treat them well, give them opportunities to grow, and develop them just like you would any other employee. You won't regret it.

5. An executive assistant

Another critical component of your dream team, an executive assistant will be able to take over much of your daily administrative work. Things like sending emails, following up, scheduling, and other small tasks that are simply not worth your time and don't need to be done by you.

As you grow, you'll see that your executive assistant keeps the ship running so you can focus on getting deals together.

There you have it! These are the five components of a real estate dream team that can help you build a fruitful business as a real estate investor.

Our final lesson? Don't try to know everything! Your job is to know your business and know how to put deals together. Just focus on that, then surround yourself with people who can help you execute the rest of the work.

Do you have any of these core roles hired for your dream team? Which one has had the biggest impact on your growth? I'd love to hear your thoughts in the comments below.