Okay, I’m currently just trying to educate myself as much as possible right now about REI so please, bear with me.
I see a ton of information out there covering many topics of investing, but I really cannot find anything that addresses the type of people you will need on your side to help your investing career along.
If I were to spend the majority of my time short saling then wholesaling these properties, who are the immidiate individuals I’d need to help carry these processes out?
I’d think that I need to find an attorney to review documents and help at closings, but I truly have no idea how to go about finding one that works with RE invesors. Plus, I’d have no idea even what I’d ask of him. How often would I be needing his services and typically, what for?
Do I need to know somebody from a title company?
Will it be good to find a general contractor to help in figuring out and documenting the types of repairs needed on properties I’m trying to SS?
Thanks a bunch.
Join your local REIA. You should be able to find someone there who can help mentor you. You can also ask around there and see who people recommend for lawyers, contractors, etc. Some lawyers will handle real estate transactions, so you could use them or just a title company for a deal (if you didn’t want to deal with Realtors). If you don’t have a local REIA, I would call around to some different Realtors. Some of them will be doing REI as well and can help you find a lawyer who deals with REI.
If you don’t have a deal to work on, a team is useless.
Focus on finding good deals, nothing else in this business matters more.
I agree that you need to join your local REI asoc. If not, you have to at least find local investors that you can contact. Do you only want to do short sales and wholesaling? I think you need to have some professionals ( team memebers) in place before you find the deals. I think a RE attorney is a must. Possibly a RE agent. but more importantly I think you need to spend more time on education in that area of investing before you find the deals. This way you will not only recognize a good deal, but you’ll know what to do with it and who to call.
If you don't have a deal to work on, a team is useless.
Tien… I have to disagree… Everyone has a team and you better be building yours before you need them or finding your team members last minute is extremely expensive…
Hmmmm, you’re right there.
Reading it over I realize how stupid of a comment I made.
Dunno what I was thinking.