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Build Your Real Estate Dream Team

Many entrepreneurs believe that, if you want something done right, do it yourself.  Personally, I believe that is the rationalization of control freaks unwilling to delegate.

In reality, your dream team will help you reach your financial goals faster than you ever can alone.

Sure, you can find motivated sellers and build a great buyer’s list on your own, but other tasks require the expertise of others.

Some of the members of your team should include:

  • real estate agents, who can bring you sellers
  • home inspectors, who can spot things you might never notice
  • rehab crews, who can do work in much less time than you could,assuming you want to pick up a hammer
  • contractors, who can finish off a repair job in next to no time
  • appraisers, who can give you accurate values on given houses
  • mortgage brokers, who can arrange the needed financing for your buyers
  • hard money lenders, who can provide needed financing in a crunch
  • title company agents, who can prepare the proper paperwork
  • real estate attorneys, who can make sure everything is in order
  • and last, but not least, your mentors, who can answer questions when you get stuck, and provide motivation should you need it.

Some guidelines for dealing with your team:

  • Interview all of them to make sure there is a good fit, that you are on the same page
  • Those with 2-3 years full-time experience work best
  • Those with experience working with investors like you is an added benefit
  • Ask for referrals from each prospective team member
  • Mutual benefit works best. You want everyone on your team to make money by working with you.
  • Don’t depend on just one from each category. More than one gives you flexibility. Imagine if a rehab crew cannot get to your job when they are needed. Or to your buyer’s job. Since you would rather have your fee sooner rather than later, you want to be able to have another crew on hand.

The more you use your dream team, the easier your job becomes, and the more money you will make.


  1. September 6th at 8:26 am 

    So true! Being a control freak of these aspects that should be delegated hinders us from being free to do the things that only we can do…

    Great tips on how to find the right fitting associates.

    Great post. Great reminder.

    thanks.

  2. Comment by Troy C
    September 7th at 12:40 pm 

    Sometimes the best approach is: “if you want something done right, DON’T do it yourself!” That’s why there are professionals and tradesman who have the experience and knowledge that you don’t have, so don’t be afraid to spend a little extra for their services, it’ll come back to you in the form of “dividends” such as saved time, resources, etc.

    I have used this principle numerous times and I am so grateful I did so because it saved me money and grief.

  3. Comment by Sabrina
    September 7th at 2:47 pm 

    Great post! I’m just starting out and working on building my team and this is a great list to go by. Thanks 🙂

  4. Comment by Horace Moning
    September 7th at 3:08 pm 

    How much do i need to play ball in a team. I want a team but i don’t want to be the one dragging along.

  5. Comment by michael
    September 7th at 5:33 pm 

    I concur with the above. I had a rehab on a 4 plex for my first. I started out with the idea that I needed to form a team experience. I settled with a contractor who ran a convict crew, and I did not mind as long as the work got done. One good thing is that I held on tight to the purse-strings. The bad was the quality of workmanship, I had a very good idea how most of the work could be done, so as i visited the site and looked I could tell that some of them had never done the task that they were attempting to do. I quite the contractor before the finish. The contractor became unaccountable for his crew and the “foreman/lead” was hardly onsite. After finishing it myself it took 10 months instead of the promised 3 months. And then along came my education and resources that was provided the investor networks that I interact with. (FIND YOUR NEAREST AND USE THEM) I will start with my resource first next time. ???????HOW MUCH IS YOUR TIME WORTH?????? If can exchange time I win, if the exchange appears expensive, I ask can/do I want to do it. Know down to the minute what YOUR time is worth.

  6. Comment by REI
    September 12th at 5:46 pm 

    Katee is right, sometimes it is best to take the reigns, especially when you are starting your own company. Start things off on the right foot so you don’t have to clean it up later.

  7. Comment by Nick
    September 18th at 11:57 am 

    Great point. I couldn’t agree more. Anytime a job needs to be done that requires specialized skills its best to leave to the professionals. More often than not property owners and investors waste valuable time trying to repair things themselves or represent themselves on a transaction. The most important thing to remember is that everybody has a certain skill set. If you want to learn about a specific area of ownership or investing then do the research and learn from the pros, then take charge and ownership over the areas that you can really control or have a positive influence.

    Nick

  8. Comment by alice kathrin
    October 4th at 9:22 pm 

    Yes, this is what i really needed. I was thinking about this type of team. Your post helped me a lot. Thanks for ur great post. 🙂


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