It takes a savvy investor to successfully turn a profit while managing a growing portfolio of real estate properties. As your number of investments climbs higher and higher, however, you may find it increasingly difficult to oversee each and every property and transaction yourself.
The buying and selling of real estate entails many moving parts. You need a great team to help you cover all the bases when you buy, own, and ultimately sell real estate. There are professionals available to you who can help with each aspect of managing investments and improving cash flow.
Real estate attorney
Perhaps the most essential member of your time is a knowledgable real estate attorney who focuses exclusively on real estate, and preferably one who also is a real estate investor who has been down the road that you are about to travel. Lerman Law Partners, LLP is “The Real Estate Investor’s Lawyer®” and has ilawyers who are also real estate investors. We can help you with your real estate purchases and sales.
Certified Public Accountant
CPAs are an essential part of your real estate investing success, from the beginning to the end of your real estate purchase and sale. But not all CPAs have the deep real estate expertise you need. It’s important to interview a CPA to ask them about their real estate experience before you hire them.
Most real estate investors need a lender to get the loan they need to purchase their real estate. Different lenders have different strengths when it comes to real estate loans. It’s imporant to intreview each lender to understand what sets them apart from other lenders when it comes to getting a loan for your particular real estate needs.
Financial advisors can leverage their experience and resources to gauge the quality of your investments and identify future opportunities that will improve your portfolio. This is an invaluable service for investors with particularly large portfolios, so much so that one survey evens shows that 38% of DIY investors choose to work with an advisor.
When you manage multiple real estate investments, it becomes unreasonable to physically oversee the goings-on at each property. A property manager, or even a dedicated management firm, can take over the responsibilities of handling repairs, working with contractors and acting as landlord.
Real estate agent
A thriving real estate investment portfolio is one that is always growing and expanding into lucrative new opportunities. While you may have an eye for profitable investments, a professional real estate agent is better positioned than anyone to track down the best deals to add to your portfolio.
Hiring talented help for your real estate team is a necessary if you wish to expand your investments further and further. When you work with our real estate lawyers, we can introduce you to some or all of the above professionals (we will not charge you for those introductions and we do not receive any money from the professionals we introduce you to) to help you fast-track your creation of your real estate investment team.
Jeffrey H. Lerman, Esq.
Lerman Law Partners, LLP