Whether it is in sports or real estate investing, we’ve all dreamed of that perfect mixture – The Dream Team. Imagine each position being occupied by the very best player. Instead of having good players you would have great players. He is the best of the best, the Gretzky of his position. Each person the only one you would really want there. How much more important would it be to have the best of the best on your real estate investing team?

The positions to fill are that of a realtor, a mortgage broker and a lawyer.You won’t appreciate good people in these positions until you have to deal with bad ones.You must be confident that these team members know their jobs and will get them done.You want to know that your hard work in finding properties that work for your portfolio will be handled professionally.In a red hot market where there are twenty other offers behind yours, you have to work within strict time constraints. It is an absolute must that your process flows smoothly with everyone doing his or her job.

You aren’t the only who is frustrated when your property deal falls through because your lawyer missed a filing date or the finances your mortgage broker promised you aren’t there.Of course without a realtor that is on top of the marketplace and finds you those great deals, nothing else matters! These professionals have a job to do and some do it far better than others.Those are the ones to find! Due diligence isn’t only for buying and selling homes; it comes into play when you are considering your professional team.

Professional associations are there for a reason so make sure that your professional is in good standing with his.This can quickly eliminate some of the people you are looking at and save you a great amount of pain and money. Secondly, be sure that they are well versed in real estate investing.Investing is much different than buying a principal residence and they must not only know the difference but what to do about it.The best way is still word of mouth, if you able to get a referral from someone who already uses them and can attest to their abilities treat it like gold.Take the time to make sure that they have the same outlook as you.Communication is key and you have to know that you are on the same wavelength to avoid miscommunications. No matter how mice they are, if they don’t “get” you it won’t work. Thank him politely for his time and move on!

There are a thousand things that can go sideways when you buy and sell homes whether it is a soft market or a hot market. The property you buy is only as good as the team you are working with to put it together. Mistakes equal loss in profits. If you buy a dud property that isn’t performing, you get rid of it. Don’t hesitate to do the same with a member of your team that isn’t working and look for someone else who will.

Rhonda Hoffman

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