Just curious if anyone out there uses teams to buy property. I have some guys in our local rei club that have a group that has been together for a couple of years and it looks like it is working well for them. They have anywhere from 20 to 30 short sales in the works every time I talk to them. So this is how they structure it.
- Does all the marketing, stuffing, mailing, database management etc…
- Does all the negotiating with the clients, banks, and realtors ( if involved)
- Does all title searches, recording of documents, setting up trusts and all paper work
- Does all the walk thrus on property with sellers, construction guys for estimates, and bpo agents.
I think this is just an awesome set up if you can really trust each other. Just curious if many others are doing the same.
I have a buddy who is my partner. We really don’t have tasks split out like what you describe. We are very informal, but it seems like we can do more deals this way. Everything is 50/50. I trust him implicitly. Plus it works out that our personalities really compliment each other’s… I am very matter-of-fact, and he has a great knack for talking to people and getting them to reveal anything he asks. Works out great. In our case, 1+1>2.
I personally wouldn’t want to go more than two in a group because logistics start to get a little hairy.
I too have a full time partner and we work really well together. We pay another family member to do all of our marketing but I could really see us adding a 4th person very soon.
We have a couple people that do marketing for us, but they are not partners. It is cleaner that way. We may be adding another person ourselves (admin/book-keeping), but unless someone else brings a lot to the table, they will be fee-for-service arrangements. Less profit to give away this way. ;D ;D ;D
I do short sale for some clients. As from one lender to another, it is easier communicating with them, when you know what to ask. I do my clients loans.
