Real Estate Investment Requires A Team

I had a hard time at first with real estate investment. One of the reasons was that I tended to be a "lone wolf," trying to do too much myself. I've since learned that to really do well investing in real estate, you need to have a team of people you can trust and rely on. Here are some possible team members, and what they need to be on the team.

1. Real estate agent. A licensed agent with experience in the area you invest in and access to the MLS (Multiple Listing Service), can be a great help. If she is a seller's agent, she can still ethically bring the best deals to you once she knows you're a serious buyer.

2. Real estate attorney. This should be someone familiar with the laws and legal customs of your area, and have experience with the type of deals you intend to do (If you are buying rentals, she should be familiar with doing evictions, for example.)

3. Accountant or bookkeeper. Keeping proper books for real estate investments is getting more complicated with all the tax-law changes. Find someone that understands the law, and what you want.

4. Mortgage broker or banker. The first can offer many options, but the second can make the loan decision. Each has their advantages, and you could use both. In either case it's important that they understand what you want (fast closings, lower interest, corporate loans?)

5. Appraiser. Not only can a good appraiser give you an accurate valuation of a property, but they should be able to suggest ways in which you can raise the value of a property. Use someone that will talk to you.

6. Inspector. In some areas it is easy to become an inspector with little experience. It's best if you use one that is or used to be a contractor, so he can find the problems AND give you some idea of the cost of repairs.

7. Insurance agent. A good one will understand what you want, and find ways to save you money. Insure all your properties with one agent, and you're likely to have discounts available, and better service.

8. Escrow officer. They will usually be with a closing company. Look for someone that's efficient, and can explain things clearly to both sides. If he is confused by a slightly creative contract, he should educate easily or be replaced.

9. Cleaning person. Having a trusted person or crew ready means a fast turn around when you buy a rental or rehab project.

10. Property manager. Be sure that the company you hire has exerience, is responsive, and will have time when you call. A good property manager can tell you BEFORE you buy, what you should get for rent in a given area.

Real estate investment is less stressful and more profitable with a good team on your side.

Steve Gillman has invested real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com

MORE RESOURCES:

German Stocks Fall Most Since January; Hypo Real Estate Slumps - Bloomberg

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/0i-0fd=Rurl=http://news.bbc.co.uk/2/hi/business/7653317.stmcid=1251970064ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNHwzLwWyKW7_prXcUAoTbApycZMkQimg src=http://news.google.com/news?imgefp=FuNvMoC2FvAJimgurl=newsimg.bbc.co.uk/media/images/45079000/jpg/_45079496_bccf7161-22b0-45f7-9387-493d8faa70dc.jpg width=80 height=60 alt= border=1brfont size=-2BBC News/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/0-0fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601100%26sid%3DapMYnS6j53Zk%26refer%3Dgermanycid=1251970064ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNFBldKR9-1qSupYi-QF5wi7DIh_vgGerman Stocks Fall Most Since January; Hypo bReal Estate/b Slumps/abrfont size=-1font color=#6f6f6fBloombergnbsp;-/font nobr3 hours ago/nobr/fontbrfont size=-1Hypo bReal Estate/b, the nation#39;s second-biggest commercial- property lender, tumbled 37 percent as the government and the country#39;s banks and insurers agreed b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/0-1fd=Rurl=http://www.youtube.com/watch%3Fv%3DZz0F4-iutWccid=1251970064ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNF7tpLR75St_oTUg5-E8vY8Tdr3UQVideo: Wall St.#39;s worst week in 7 years/a font size=-1 color=#6f6f6fnobrReutersVideo/nobr/fontobject width=448 height=356param name=movie value=http://www.youtube.com/v/Zz0F4-iutWc/paramparam name=wmode value=transparent/paramembed src=http://www.youtube.com/v/Zz0F4-iutWctype=application/x-shockwave-flashwmode=transparentwidth=448height=356/embed/objectbr/fontfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/0-2fd=Rurl=http://www.marketwatch.com/news/story/hypo-real-estate-tripped-funding/story.aspx%3Fguid%3D%257B2B1A4778-8429-4E11-88E0-96FD0D888991%257D%26dist%3Dmsr_1cid=1251970064ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNGnyB47R2sLcOcjBsFkiyGfBK7lKQHypo bReal Estate/b tripped by funding strategy/a font size=-1 color=#6f6f6fnobrMarketWatch/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/0-3fd=Rurl=http://www.dw-world.de/dw/article/0,2144,3692522,00.htmlcid=1251970064ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNFDlWJQQaX2hy0Q7W4UCd3HfyTRPAGermany Rescues Hypo bReal Estate/b/a font size=-1 color=#6f6f6fnobrDeutsche Welle/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/0-4fd=Rurl=http://www.marketwatch.com/news/story/german-officials-move-save-hypo/story.aspx%3Fguid%3D%257B99F9DBD1-3CCB-4FD9-A31D-248BFE852C56%257D%26dist%3Dmsr_1cid=1251970064ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNH0nS1TpwMawiiLidRHEjToJdnrRgnobrMarketWatch/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/0-5fd=Rurl=http://www.marketwatch.com/news/story/germany-moves-rescue-hypo-real/story.aspx%3Fguid%3D%257BD97E28E7-42B0-4DE5-B730-13B59C349C04%257D%26dist%3Dmsr_1cid=1251970064ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNG3jjbg6KTpNy4ATZp7zMaWttxPDQnobrMarketWatch/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1251970064hl=ennobrall 2,165 news articles/nobr/a/font/div/font/td/tr/table

Real estate roundup: BPA leases Vancouver space - Bizjournals.com

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/1-0fd=Rurl=http://www.bizjournals.com/portland/stories/2008/10/06/daily2.htmlcid=1254855186ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNGDRuVV7N6aytgn21MkgStydKlUyAbReal estate/b roundup: BPA leases Vancouver space/abrfont size=-1font color=#6f6f6fBizjournals.com,nbsp;NCnbsp;-/font nobr2 hours ago/nobr/fontbrfont size=-1New amp; Neville bReal Estate/b Services represented Cricket. •Foam Street Investments LLC purchased The Parkview Apartments, a 104-unit complex at 7808 NE 12th b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/1-1fd=Rurl=http://www.heraldtribune.com/article/20081006/ARTICLE/810060402/2058/NEWS%3FTitle%3DReal_estate_dealscid=1254855186ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNHR6fzXb_rU43M-3QN7JgA4LoWo9AbReal estate/b deals/a font size=-1 color=#6f6f6fnobrSarasota Herald-Tribune/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1254855186hl=ennobrall 4 news articles/nobr/a/font/div/font/td/tr/table

Blumberg Capital Partners Completes Two-Year Real Estate ... - MarketWatch

Real estate wrap: Rowan opens first building at technology park - Bizjournals.com

Commercial real estate feels pinch - Minneapolis Star Tribune

The 2008 Real Estate Review Is the Most Comprehensive Guide to the ... - MarketWatch

Analysts cautious commercial real estate outlook - Forbes

Coldwell Banker(R) Launches National 10-Day Sales Event - MarketWatch

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/7i-0fd=Rurl=http://arkansasmatters.com/content/fulltext/news/%3Fcid%3D124301cid=1254756958ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNGHBWPr_rHu4VFpCh5ViZk97GVQpAimg src=http://news.google.com/news?imgefp=raVxqp1SorkJimgurl=arkansasmatters.com/media/jpg/home_sales2008-07-29-1217345303.jpg width=80 height=60 alt= border=1brfont size=-2KARK/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/7-0fd=Rurl=http://www.marketwatch.com/news/story/coldwell-bankerr-launches-national-10-day/story.aspx%3Fguid%3D%257B0481B2FE-7457-41B4-BCF1-CBA888F7055C%257D%26dist%3Dhpprcid=1254756958ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNEsEQOQzh8jNSUzGrOYyVcRiFJYxQColdwell Banker(R) Launches National 10-Day Sales Event/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobr9 hours ago/nobr/fontbrfont size=-1quot;Despite the difficult headlines regarding our overall economy, the residential breal estate/b market has been showing several positive signs over recent b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/7-1fd=Rurl=http://www.bizjournals.com/albany/stories/2008/10/06/daily8.htmlcid=1254756958ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNFX-tFwSYrOjRc06S2VIrsjA6e9gAColdwell Banker to publicize special 10-day price reduction to b.../b/a font size=-1 color=#6f6f6fnobrBizjournals.com/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/7-2fd=Rurl=http://www.reuters.com/article/bondsNews/idUSN0228964320081006cid=1254756958ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNECfBWoUT6BM7bFNwKCNbyv9giSpgColdwell sets 10-day price cuts to spur home sales/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/7-3fd=Rurl=http://www.orlandosentinel.com/business/local/newsletter/orl-biznews-coldwell100608,0,2564297.storycid=1254756958ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNHvh1dGKuQQKszxY9INVVZAQicfTQColdwell Banker to discount hundreds of Orlando-area homes by 10%/a font size=-1 color=#6f6f6fnobrOrlando Sentinel/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/7-4fd=Rurl=http://arkansasmatters.com/content/fulltext/news/%3Fcid%3D124301cid=1254756958ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNGHBWPr_rHu4VFpCh5ViZk97GVQpAnobrKARK/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/7-5fd=Rurl=http://www.brandweek.com/bw/content_display/news-and-features/technology-finance/e3i3ccdd00902078c2443f98cab7e3c3b3ccid=1254756958ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNFjNeR5iTY9guDRawoyOFjflDxTfAnobrBrandweek Magazine/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1254756958hl=ennobrall 18 news articles/nobr/a/font/div/font/td/tr/table

Japan Stocks Fall on Hypo Real Estate Bailout, US Job Losses - Bloomberg

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/8-0fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601080%26sid%3DaCLlNLHwIv5k%26refer%3Dasiacid=1254747604ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNHEhhqd6tNU_iqKwfq-x-2bkGZkXAJapan Stocks Fall on Hypo bReal Estate/b Bailout, US Job Losses/abrfont size=-1font color=#6f6f6fBloombergnbsp;-/font nobr19 hours ago/nobr/fontbrfont size=-1By Masaki Kondo Oct. 6 (Bloomberg) -- Japan#39;s stocks fell as the biggest US loss of jobs in five years and a bailout of Hypo bReal Estate/b Holding AG fueled b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/8-1fd=Rurl=http://www.allheadlinenews.com/articles/7012547666cid=1254747604ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNG0DJzjDZiAKIKt40nCM400zxfMVAAsian Markets Trade Lower As Credit Crisis Goes Global/a font size=-1 color=#6f6f6fnobrAHN/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/8-2fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601101%26sid%3DaRNEW8NF6B9g%26refer%3Djapancid=1254747604ei=Y2nqSPemHYu8yATj2PBRusg=AFQjCNF87966196Y6qzo-uDYHcxULg6IFAJapan Stocks Fall to Five-Year Low as Credit Crisis Intensifies/a font size=-1 color=#6f6f6fnobrBloomberg/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1254747604hl=ennobrall 4 news articles/nobr/a/font/div/font/td/tr/table

Bank exposure to real estate sector climbs by 5.2% in June - BusinessWorld Online

Real-Estate - Google News

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