By Kathy Kennebrook
Putting your “dream team” in place while establishing your real estate business is one of the key steps to developing a successful real estate investing business quickly and efficiently. Your dream team is going to consist of those people or vendors who can help you find deals, provide funding, get your deals closed and then sold or leased quickly.
Having your dream team in place and being able to close deals quickly will give you a distinct advantage over your competition by allowing you to complete deals they simply won’t be able to finish in a timely manner.
The first element you need to think about is your marketing team. Your marketing dream team will include the people who can help you locate good deals, such as “bird dogs”, Realtors, mortgage brokers, promotional companies who will supply your business cards, signage, t-shirts and whatever advertising materials you need, and people who will implement your direct mail campaigns for you. You also need to add to the mix the account representatives who will handle your classified and display ads in your local newspaper and shopper guides.
The more you can automate this part of your business, the more deals you’ll be able to do more quickly.
Next, your dream team needs to include a title agent and/or a real estate attorney. These people are going to insure your deals close smoothly and with a clear title. A real estate attorney can help you to solve a lot of problems that can arise during a closing, such as a title glitch, a survey problem, or estate and probate issues, just to name a few. As you develop a relationship with your title agent and/or real estate attorney, they will become a major asset to your business by being better able to work one-on-one with your sellers and you to make sure all your deals close as smoothly as possible. You also need to make sure that your title agent and/or real estate attorney are bi-lingual so they will be able to work with your Spanish speaking sellers as well. This part of your team is one of the most important. If any part of a deal is going to fall apart it is going to be during the process of closing. Make sure you choose the best in the industry to close your deals from the very beginning, even if it costs a little more!
Then have in place those vendors who can get repairs to a property done quickly and efficiently. Once you develop your dream team, don’t keep changing vendors. This will cost you a lot more money in the long run. Developing a great team of people in your business will help you get more deals done and create bigger profits.
For more information on getting deals done and finding the sellers none of your competitors know anything about check out my website at www.marketingmagiclady.com
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