Thursday, July 28, 2016

Investing In Real Estate – Building The Right Team: Series Recap

As a real estate investor, you have a lot at stake. It's important to remember to treat your investing as a business. As the CEO of your investing business, it's important to run your business properly to ensure its success.

As any good CEO will do, you need to surround yourself with the right help. It's hard to do it properly all on your own. Focus on your strengths and outsource the rest to the proper professionals.   You might not need every one of the team members we discussed in our series, but they should all be considerations for the future.

Make sure to value your time as an investor. Why spend your time mowing the lawn of your property when it could be spent analyzing your next deal? If you're busy with your career or family life and don’t have the time to take care of everything yourself, it doesn’t mean you don’t have time for investing in real estate, it just means you need to outsource.

One of the main reasons people hold back from investing in real estate is the horror stories they have heard about problem tenants or problems with the property (ie. flooded basement). One of the great benefits of outsourcing to professionals is that it minimizes your mistakes and potential liability as an investor. You don’t have to learn the hard way.

Remember, the path to real estate investing success and future wealth is a marathon, not a sprint.  Surrounding yourself with the right people will help you keep a steady pace on your journey and not stumble along the way. Now get moving!

This wraps up our series on building the right team as a real estate investor. Hopefully it was insightful and made you think differently about your chances of becoming a real estate investor.  We’d love to hear from you!

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