Get to Know the Power Team Members Essential to Your Wholesale Real Estate Career

Get to Know the Power Team Members Essential to Your Wholesale Real Estate Career

Some possible people included in your wholesale real estate power team should be real estate agents,  mortgage brokers, title or escrow officers, private lenders, hard money lenders, appraisers, handymen, contractors, licensed property inspectors, property managers, accountants, other real estate investors, family members, friends, and real estate lawyers, all of whom should have experience in wholesaling real estate and real estate investing.

In many cases, it is in your best interest to have as much information about a wholesale property/deal as quickly as possible.  If you have a great power team, you will be able to accomplish this much more effectively and quickly than if you were relying on yourself to do all of the work.  Why?  One person can only know and do so much at any given time.  A team can divide and conquer essentially.  At any one given time, you can have a number of people working together to gather and evaluate the wholesale deals that you are looking to venture into.  An experienced and knowledgeable power team  will provide the information you need to adequately determine if this wholesale deal meets your investment criteria or not. 

With this information, you should be able to move from wholesale deal to wholesale deal that much faster and stand to make that much more profit too.  The information they gather can help you see problems early and move onto a new wholesale deal, or see a strategic position or opportunity that you can jump on that much faster and structure that much more favorably for you and to appeal to the seller.  A power team might have ins or connections that can offer you information about wholesale properties coming available or events soon taking place that could help you buy at the right time and place.  Your power team might help you develop a great market niche or unique position in your target areas.  They might help you save money at tax time or reduce your liability if a wholesale deal goes bad.  In some cases, you might have team members that can help salvage deals that go a rye or move the process along that much faster to help the wholesale deal remain profitable.  They may be able to refer sellers, hard money lenders, private lenders, cash buyers, retail buyers or renters to you too.  In essence, you will save a lot of time and effort learning things that your wholesale real estate power team is already well versed in and gain access to many more wholesale deals than you could find on your own.  They will help you make more money faster wholesaling real estate and avoid obstacles along the way.

December 6, 2011 / 1 Comment / by / in , , ,

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