You probably aren`t considering investing in real estate so you can work harder! You want to find an low maintenance investment vehicle that is scalable. The most successful real estate investors surround themselves with professionals that help them acquire and operate their properties. Since the best investment opportunities are typically not where you live, it is that much more important that you have a team in place in the areas that you are invested. Join the RPC Network and you will have a tremendous head start on coordinating your team. Here are the roles that you should fill on your team:
1. Lender
A good lender can make the difference between qualifying for a 5% down loan and a 20% down loan. As you acquire more and more properties you will find that traditional banks and lenders don`t know how to fit you into their formula. You need a lender that understands real estate investments and how to qualify individuals that have 5, 10, 50 and 100+ properties. Rental Property Calculator Network subscribers have access to the prime national lenders that understand the needs of investors. Your cost for having a top lender on your team: $0
2. Real Estate Agent
Ever ask a real estate agent about the best neighborhoods in their area to invest, or the what the landlord laws are, or whether a property will make or lose money? You probably got a blank stare or a hollow answer in response. That`s because most of the realtors spend all their time finding and marketing homes that will be occupied by the owner.
A better solution is using a realtor that is familiar with investors. Qualified RPC realtors understand remote investors and can investigate the properties that you find on the RPC Network without you having to travel. When you decide to buy a property, a RPC Realtor can do the walk-through and work with the property management company to make any needed improvements. Rental Property Calculator Network members have access to realtors in the markets that you are interested in. Your cost for having a top realtor on your team: 0-1% of the purchase price.
3. Property Manager
When most people experience the power of real estate investments they want to acquire more and more properties. But it is important that more properties doesn`t mean more work for you. A good property management company will represent you remotely and handle every detail of operating your property. Property management companies will market your property to tenants, screen tenants, collect rents, coordinate repairs and even handle eviction or legal proceedings. Instead of fixing toilets and scrambling to fill vacancies you will have a team close to your property handling everything. You will spend your time reviewing the monthly statements from your management company and building your portfolio. When you belong to the RPC Network you have access to property managers that know the market. Your cost for having a top property management company on your team: 6-7% of monthly rent (marketing expenses separate).
4. Accountant
The US Government applies very generous tax laws to real estate ownership and profit. An accountant is be the difference between a hobby and a serious investment. RPC Members have access to a list of CPA`s that understand real estate taxes and will save you thousands of dollars. Your cost for having a CPA: Hourly rates differ by area and experience.
