9 Important Members of Your Power Team

 

If you are just starting out on property investing, you are probably already feeling the loneliness of this journey.

Unlike working in a corporate environment, you don’t have colleagues that you can speak to on a daily basis, or a manager that you can go to for advice.

Your property business is your own business. When you are just starting out, most investors don’t have a team. They are just on their own, probably trying to do everything on your own too.

Just to show you how much difference a good power team can make, I’ll tell you my own story.

When I first started investing in North of England, I had to travel up there every other weekend. The train journey was 2.5 hours each way. (Driving would take even longer.) I had to do that because I wanted to get to know the area in detail, but also because I didn’t have a local team that I could rely on. You can imagine how tired that made me and how much time and money I spent on the train journeys.

Now I have a local team built up and I have bought the last few properties without having to go there at all myself. In fact I haven’t been up there in the past 5 years!

So Who’s in the Team?

Exactly which property experts are in your team depends on your specific strategy. But generally speaking, the following people would provide valuable expertise to your property business.

-        Letting Agent

For researching the area and renting out/managing your properties.

-        Estate Agent

For sourcing and selling properties.

-        Conveyancing solicitor

For processing the legal side of your property purchases and uncovering issues that needs resolving.

-        Surveyor

For property valuations and reports.

-        Mortgage broker

For finding you the best financing products.

-        Accountant

For filing your tax returns and optimising your profit retention.

-        Insurance broker

For sourcing the right level of cover to safeguard your assets and business.

-        Tradesman/Builder

For refurbishment or development.

-        Mentor/Coach

For knowledge/skills and support, someone to keep you accountable.

 

Have questions regarding how to build up your power team, or simply how best to move forward in general?

CLICK HERE to book a free strategy session with me.

 

To finding great people to push you along the way,

Emma