All Forum Posts by: Thomas Taylor

Hello @Matt Kulpinski,

Well done. A good local investment team will save you time, money, and risk.

The place to start is by finding an investment Realtor. You can then leverage your investment realtor’s network for other team members.

Note that an investment realtor is not a residential or "investor-friendly" realtor, who will only provide MLS data sheets. MLS data sheets are almost useless to investors. Below is a comparison between what an MLS data sheet provides and what an investor needs.

Only an investment realtor, who is part of a team, can provide everything you need. Finding an Investor realtor is not easy. The challenge is selecting a good investment realtor from an ocean of residential realtors. Where can you search for candidates?

• Property managers
• Real estate investing websites
• Local investors
• Talk to real estate brokers
• Google searches
• Local meetups
• Online reviews

Once you have candidates, evaluate each candidate using the flow chart below. If a candidate fails even one question, eliminate them from consideration.

If a candidate passes all the above, you can be assured they know what they are doing. Also, an investment realtor and team will cost you no more than a residential realtor.

You mentioned a problem with a contractor. Only a good local investment team can solve this problem. Here is the issue. No matter how large your renovation is to you, it is a small job to the contractor. So, they only work on your job if they have nothing else to do. The only leverage you have is your team. In our case, the renovation company we work with gets 5 to 10 jobs each month. They know they have to do all our jobs well, large or small, or they lose all of our business.

There is another renovation consideration, and I cannot emphasize the following enough. Unless you have someone experienced in construction and managing people, go on-site at least every other day, your job will take a long time to complete, the quality will be poor, and the price will go up. Renovation over-watch is critical. Check any potential investment team for this capability.