Over the past year, I’ve talked quite a bit about the importance of putting together a solid team of advisors and workers in your investing. The right team will make or break your efforts to invest wisely. Given the nature of the current market, I encourage you to really get serious about this piece of your strategy.
One of my recent posts about the bus tours provided some insight into this very thing and really forces an investor to look at the truth and be real about it. Who is really there to help you and who is there to make a buck?
On my team, I like to have people who are specifically geared towards each and every specialty within the market. I have people whom I trust for a better understanding of the sale of residential properties. I have other people who are great with pre-foreclosures and people who understand seller-financing. As well, I have people who get the property management on a different level and who do it well.
Whether you’re building the Mile High Tower or purchasing some rentals for extra cash flow, take time to build a resource of irreplaceable people. Make sure they fit into your team and your strategy of investing. Don’t think that one person with a wealth of knowledge will know how to handle any and every detail of your problems. That’s foolish.
Tuesday’s Tip: No one person has all of the answers. If you think they do, it’s probably a good idea you rethink that thought.
BTW, we’re going to start a series soon with one of my advisors on short sales and the negotiation of them. I’ve asked Kevin, of Save or Sell Your Home, to help piece this together and educate all of us. I know he’ll offer us some great stuff.
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