One of the things, that I found to be tough as I began my real estate investment journey was building my team. It’s something that I still struggle with today and it’s partly because I don’t live in the areas I invest in.
As a newbie real estate investor, you hear people say, you have to build a team and you’re like okay. That involves a variety of people with different skill sets. Since I invest in Mississippi and I don’t currently live there, I had to network via Facebook. I was fortunate to reach out to a couple of people who came across my Facebook newsfeed from the area I am investing in who were also investors in the city and had connections and contacts and didn’t mind sharing. Of course there are other ways to connect with people via the internet and other social media platforms. On my first property, I knew I was going to need a Contractor, an Insurance Agent and a Property Manager. I thought that would be my team and I was good.
But later I found out that, building a team involves a lot more people. In order to grow the business, I’m going to need several Contractors, not just one, a Property Manager, a Realtor, an Insurance Agent, and a Lender, and a few people in my life to talk to when I need to vent or bounce ideas off of. It’s a whole system of people who I can rely on to get the things I need that will help me reach my goals. Of course I read a couple of books about it and one of the best ones, I read that helped me is Long Distance Real Estate Investing by David Greene.
It’s not an easy thing to do and it will take some trial and error, but I know once I’ve gotten my team down solid, the sky is the limit and at that point.