If you want to have a profitable long-distance real estate investing team, there are 4 important roles that need to be filled. First is the deal finder who simply finds the best deals for your team to invest in. The property manager is the person who knows the real estate market better than anyone. They can give you insight on which markets are hot and which markets are not. the contractor is there to fix up any properties you are ready to sell. Last minute touch ups/additions can add a great deal of value to your property. Finally, you need a lender that can lend you money in order for you to buy more properties. Get a team with these roles filled with trustworthy people and you will be making a profit in no time.
- The Deal Finder is key to a profitable long distance real estate investing team. There role is simply to find the best deals possible for the team.
- The property managers job is to collect rent, send statements and network with other investors. They can be very valuable.
- The lender is the person on the team that allows you to use others money in order to buy properties. You need to have a good credit score and a trustworthy, reliable lender.
“The Core Four are the four people I need to put a beachhead in place in order to start buying somewhere. Now, you’ll find that it’s really not any different than what you need to start buying in your own neighborhood!”