Behind every investment property is a successful investor, but that successful and savvy investor found success with the help of other experts in the single-family residential industry. If you're ready to invest, your next step is to know who to have on your team.
Whether you are a buy and hold, flipper, or both and use the BRRRR Method, we've got you covered on who to have on your team. Top producing Senior Account Executive Jose Salcedo breaks down a team of experts he sees his clients partnering with to find to build wealth through rental properties:
Now we aren’t talking just any realtor, we are talking about top realtors in their local markets. Investors can find investment opportunities across the nation in countless markets, but it’s not always feasible to visit a property the second it hits the market. Having an active realtor on your team is vital. Many realtors work specifically with investors looking to grow portfolios and understand that cash-flow and the value of the property as a rental is different that obtaining your average second mortgage. Many investors use realtors across the nation for their expertise in their local markets, which is insight you can’t find with a simple Google search. Find a realtor to partner with, they may even be able to find you investment properties before they hit the market!
Turnkey Property Sellers -
(definition by Spark Rental:) Traditionally, most turnkey property sellers were real estate flippers. They would buy properties in strong rental neighborhoods, update them, and sell them to long-term rental investors.Turkey property sellers can be an investors best friend. Not only do they have valued properties investors can obtain from them, but they also have experience and historical insight on properties, which can help investors better evaluate investments based on historical data points. There are times, turkey property sellers are willing to continue to partner with you as a property manager for the property they’ve managed for years.
Property Managers -As buy and hold investors obtain more nationwide properties, it is not feasible to wear the property management hat and investor hat. Leave it to the professionals, so you can continue growing your rental properties.
Contractors -Contractors sound like a given and probably are. It’s always good to have an expert on your team to help you gage any needed renovations over time and of course your routine maintenance. Also, it’s extremely important to have trustworthy contractors on your team, it’s not uncommon to experience scam through contractor work.
Capital Asset Lenders -Last, but not least, a capital asset lender. With conventional loan guidelines restricting those with steady income that may not be easy to track or prove with documents. Today, there are alternative lending organizations that base their qualifications on the value of the property and the property’s cash-flow. This is ideal for those looking to obtain investment properties of good value.
Connect with Senior Account Executive, Jose Salcedo today!