Chapter 4
How to Build Your 'A Team'

The second most important tool that you will need (apart from finance) is a team of experts to help your project run like a well-oiled machine. I like to call this team my A Team.

Your A Team is yet another example of leverage at work. Build a team of experts and leverage off their knowledge and expertise.

Apart from the obvious contractors, your A Team should also include experts from all other relevant areas of property renovation.

ATTORNEYS

When conducting business transactions of any kind, it is always wise to consult a lawyer so as to avoid legal problems. This rule applies equally as strongly to your real estate business. A competent attorney is an essential member of your A Team.

ACCOUNTANT

With taxation laws getting more complex by the day, the need for a good accountant is more relevant than ever. Your chosen accountant should be well versed in property investment.

REAL ESTATE AGENTS

Love them or hate them, eventually you will have to deal with agents. During a recent pause in my career, I spent three years buying and selling fixer-up real estate. It would be an understatement to say that my experiences with agents were interesting.

A good agent is also worth their weight in gold when it comes time to sell. It can make the difference between a good selling price and an outstanding selling price.

MORTGAGE BROKERS

Banking policy and conservatism can be one of the greatest hindrances to real estate investors. That's why I never use banks to fund my property purchases (not directly anyway).

Yes, I do borrow from banks or some other kind of lending institution, but I do not approach them directly.

There are simply too many products and options out there. My recommendation is to find a good finance broker who is also a real estate investor.

APPRAISERS

Appraisers are an important part of your ‘A Team’. Their opinion of value regarding your properties can either make you or break you. Banks are a very conservative lot and will instruct the appraiser accordingly.

The trick is to build up a relationship with appraisers and get them into the habit of valuing your property on your terms, and not the bank’s.

CONTRACTORS

Finding good reliable contractors can be one of life’s greatest challenges. These days, it’s hard enough to get them to turn up and quote the job, let alone do the job. Your contractors are without doubt the most important members of your team. Without them, the renovations may never get done.

CERTIFIED PROPERTY MANAGER

The last, but by no means least, member of your team should be a competent property manager. As is usually the case, if they own investment properties, they will better understand your needs.