/24-7PressRelease/ - MOORESVILLE, NC, July 20, 2007 - 1.Build a relationship with a good Realtor that specializes in helping real estate investors.
Every city has many qualified Realtors. The key is to find a Realtor that specializes in assisting real estate investors. Find other real estate investors in your market and ask them who they use. If they don't work with a Realtor ask them for a reference. Still do your own homework. Find out what percentage of their business is derived from helping investors find properties.
2.Identify a couple of good mortgage brokers that can finance non-owner occupied homes.
Don't make the mistake to believe that financing your residence is the same as financing an investment property. Search for mortgage brokers who can close "non-traditional" transactions. Don't take someone's word that they can close your deal, ask them to show you upfront.
3.Get the best property manager money can buy.
A good property manager can keep your units rented, the cash coming in and stay on top of repairs and tenant issues. A poorly equipped property manager can leave you with a bad taste in your mouth about real estate investing as a whole. Ask specific questions about how they handle tenant issues and what is included in their services. Always ask for referrals from other owners who have homes in your home's neighborhood.
4.Identify a good real estate attorney.
You are looking for someone who is going to make you money and not cost you time. Make sure the attorney you choose was not chosen because he/she did a great job on your will. You must get an attorney that specializes in real estate law. Get referrals but feel free to ask for a free consultation. Find out what percentage of their business is real estate law. Also find out what they are comfortable with. If you are buying foreclosures at the courthouse steps find out what they think about that.
5.Pay Uncle Sam, but only what you owe him.
Get a good accountant. Just like your attorney make sure they specialize in real estate investing. They are harder to find but you can find them. The great news for you is federal IRS laws pertain to all states. Find the accountant that can work with the individual investor. If your accountant only works with real estate development firms, mid-sized builders and the like don't assume they can help you. What percent of their business comes from people like you?
Learn about building your team, real estate investing at a distance and finding the really good deals at Turn the Key on Real Estate Wealth, August 18-19 in Charlotte, NC. Visit http://www.realestateinvestingbustour.com for all of the details.
This event is sponsored by Get Real, The Real Estate Investing Show for the Rest of Us (www.getrealrei.com) a leading nation wide real estate investing podcast and Cash in on Charlotte (www.cashinoncharlotte.com) , the show about investing smartly anywhere by showing all that Charlotte has to offer.
About Get Real REI
Get Real REI is an educational service provided through new technolgies such as podcasting to allow real estate investors to become better educated.
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