Shownotes
So, you're new to investing in real estate and you don't know who to trust? Fear not! Our favorite real estate power couple, Palak and Niti, are back to help you learn how to find and vet the people you will need to work with along the way in your real estate journey.
Join Open Spaces at the BRRRRCON 2023 on Dec 8, 2023! Learn from industry leaders to make, multiply, and protect your wealth! – www.thebrrrrcon.com
Learning how to work with real estate agents and contractors, analyze and finance deals, and employ all manner of people in an industry new to you can feel like a daunting and overwhelming task.
After all, this is probably somewhat removed from what you've experienced previously in your day job!
See your accountant, insurance person, and your attorney as a ‘trifecta’ that will protect your assets and reduce your tax liabilities. It is critical for your success as an investor that these three work together as a team.
Becoming part of an investor community will align you with people of a similar mindset who are going through the same processes as you, ideally in the same area.
From assessing someone's communication skills and whether or not they specialize in real estate, to figuring out who you can trust, Palak and Niti are giving us a great checklist of hot tips when it comes to vetting your own all-star real estate team. Please join us!
"How can I have access to the best players in the industry? And what is the best way to determine if they're going to be the right fit for me?" ~ Palak Shah
In This Episode:
- 00:30 Shifting from being an employee with a W2 desk job to becoming an investor
- 02:05 The challenges of working in a new industry
- 04:07 What are the team members that a new investor will end up hiring early on?
- 06:40 How to think about who should make up your team
- 07:15 Plugging yourself into a good community of investors
- 09:03 3 things to look for when adding new team members
- 10:20 Can your potential team member communicate well?
- 11:14 Unpacking the trust factor with a new partner
- 13:02 Looking out for red flags early in the process
- 14:09 Don't hire the first person you interview
- 15:10 Asking for references (doing your due diligence)
Resources:
Connect with Palak and Niti
