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How to Build a Real Estate Investing Power Team
As you continue to read about real estate investing, you will no doubt come across the term 'power team'. What is this 'power team'? A power team is a group of people without whom successful real estate investing becomes very difficult, if not impossible. Included in a power team are at least one real estate agent, a mortgage broker, and a real estate lawyer, all of whom will have experience in creative real estate investing. So, how do you go about building this team? Well, you could just get a copy of the Yellow Pages and start calling, but that will most likely take a very long time, time that could be better spent working on real estate deals! Wouldn't it be better to have these people call you? I thought so, so here's what I did. Keep in mind that this technique not only netted me a power team, but also a list of potential partners/buyers for future deals. The local paper offers a deal on weekend real estate listings, so I placed an advertisement in the paper that read: "Fixer-upper for sale. Cheap. Need cash and quick closing. 555-5555" What sort of people would respond to an ad like this? Some will be tire-kickers and the curious, but a good number of callers will be investors and real estate agents. I had the number in the paper forwarded to a voicemail service, and it's a good thing I did as there were a lot of calls! I find that those who are just curious about the ad tend to hang up without leaving a message, so that takes care of those that aren't serious. After listening to the messages I found that there were two real estate agents that had answered. I called the first one, George, and told him that the home had sold, but would he be interested in working with fixer-uppers in the future? He replied that he would, but didn't seem interested in discussing it much further. Now, I should mention here that I never actually had a home to sell - what I posted is called a 'ghost ad', used to guage interest in something. You may not feel entirely comfortable with this, and that's fine. Simply post a different ad that gets the same sort of message across. The next agent, Elizabeth, was much more receptive. We spoke for well over an hour about her experiences in real estate - it turns out that she actively invests in real estate herself. She would be more than happy to search the mls on my behalf, as well as submit as many offers as I would send her way. Perfect! And here's the best part: since I had found a real estate agent who also invests, I was also able to use the resources that she uses in her deals. So I now had access to a great real estate lawyer as well as a mortgage broker, along with a recommended property inspector. That saved me loads of work and time. My power team was now complete! I've since become good friends with Elizabeth, and she regularly sends me listings that haven't made it to the mls yet. This gives me a huge advantage in pursuing deals as only a relatively small number of people are aware of the sale. I picked up my latest rental property this way - the property was going to be listed on the mls in two days time, but since Elizabeth let me in on the deal early I was able to close before the general public became aware. A good power team is crucial to your success as a real estate investor, and oftentimes finding one member of the team can lead you to the others. Happy Investing! About The Author Adem Hamidovic is a part-time real estate investor and operator of www.ProfitPiggy.com, a website devoted to new and experienced real estate investors alike.
MORE RESOURCES: Jake Paul Closes One Of The Largest Real Estate Deals In Georgia History With $39 Million Purchase of 5,600-Acre Ranch Yahoo Finance New Jersey tops nation’s highest property tax list at $9,413 while southern states offer relief New York Post A tale of two Floridas: Real estate industry torn over DeSantis' push to eliminate property taxes Fox Business Dave Ramsey Saves Listener With $1 Million in Her 401(k) From Becoming a ‘Victim of the Real Estate Market’ Realtor.com Hoby Hanna: Zillow is ‘overstepping,’ limiting ‘creativity’ - Real Estate News by RealEstateNews.com Hoby Hanna: Zillow is ‘overstepping,’ limiting ‘creativity’ Real Estate News by RealEstateNews.com What renters really want | Real Estate Newsletter Inquirer.com VanTrust Real Estate Columbus office founder takes new role, successor named - The Business Journals VanTrust Real Estate Columbus office founder takes new role, successor named The Business Journals Despite signs of market rebalancing, real estate in this NJ town remains hot. Here's why Bergen Record Real estate inquiries by wealthy New Yorkers into Florida properties jump 50% after Mamdani primary win Fox Business Real Estate: Immaculately Maintained & Move-In Ready Home sanangelolive.com These are the forgotten NYC nabes that became real estate hot spots in the last decade: report New York Post Real Estate Newsletter Articles this Week: Months-of-supply is higher than the previous 8 years! Calculated Risk RNR Real Estate Briefs — Texas & more Realty News Report Golfer Bryson DeChambeau's Massive Real Estate Investment Has Eaten Up Most Of The $125 Million He Got Paid To Switch Tours Yahoo Finance Buyers wary of surprise HOA costs now have a safety net Real Estate News by RealEstateNews.com Compass to share exclusives — if brokers, MLSs play by 2 rules Real Estate News by RealEstateNews.com NYC Real-Estate Execs Throw Money Behind Adams to Counter Rise of Mamdani The Wall Street Journal 'Married To Real Estate' Canceled After Four Seasons On HGTV, Say Hosts Egypt Sherrod & Mike Jackson Deadline 'The part no brochure tells you': Real estate advisor exposes legal landmines Indian buyers ignore MSN Tampa real estate investment firm under investigation for potential deceptive practices Florida Politics Senior Spotlight: The Grand Junction Daily Sentinel Real estate investors are purchasing more U.S. homes as high prices lock out would-be buyers CBS News $400 Million Family Lawsuit Involving Prominent Fullerton Real Estate Figures Part 1 Fullerton Observer Mortgage Rates Predictions for the Next 6 Months: August to December 2025 Norada Real Estate Investments 2025-2030 Five-Year Housing Market Predictions U.S. News Real Estate Department of Taxation and Finance dos.ny.gov He Built a House With Doors and Windows That You Can’t Close The New York Times Real estate sales in Peoria, Tazewell and Woodford counties for July 12, 2025 Peoria Journal Star SERHANT. hits DC; Elliman snags ‘Million Dollar Listing’ star Real Estate News by RealEstateNews.com OT Real Estate Spotlight of the Week: 1555 Graves Lane The Owensboro Times New Jersey tops nation’s highest property tax list at $9,413 while southern states offer relief New York Post The Michael Houck Real Estate Guide for July 13th Oil City News Confusing housing stats & real estate nerds Sacramento Appraisal Blog Real estate boss targeted in San Francisco with smear campaign The San Francisco Standard Top 10 most expensive homes sold in Petaluma last week The Press Democrat Real estate CEO warns of growing ‘exodus’ as people have ‘given up’ on California — but where are they going? Yahoo Finance Mortgage Rates Today – July 12, 2025: Rates Rise Across the Board for All Loan Types Norada Real Estate Investments Here are recent property transfers up to $970,000 St. Albans Messenger How downtown Natick MA has become a focal point for redevelopment MetroWest Daily News Agent Spotlight: Katie Coleman The Grand Junction Daily Sentinel Here are businesses on the move in Marin, Solano, Napa, Sonoma and Mendocino counties The North Bay Business Journal Where are home prices falling most in America? This SWFL community made top of the list Naples Daily News Top B2B Platforms Transforming Tokenized Real Estate Markets Herald Home prices in Colorado Springs hit record high, even with many homes for sale Colorado Public Radio Blackstone, PSP reportedly among consortium in talks to acquire H&R Real Estate Investment Trust Pensions & Investments Wichita Falls ISD teams with Bishop Real Estate to sell Kirby Middle School Texomashomepage.com Landmark Tax Reform Brings Major Wins for Real Estate National Association of REALTORS® Page C4 Post and Courier Page C2 Post and Courier Page C6 Post and Courier Page C5 Post and Courier Page C10 Post and Courier Page C11 Post and Courier |
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