Wichita real estate investor Richard Rierson is no stranger to the importance of having the right team in place when it comes to real estate investing. Over the years, he’s learned firsthand how critical it is to surround yourself with knowledgeable, trustworthy professionals who can help you achieve your goals.
In this article, Rierson shares his insights on the key players every real estate investor needs in their corner and how to find and work with them effectively.
The Real Estate Agent: Your Trusted Advisor
When buying or selling investment properties, an excellent real estate agent is worth their weight in gold. Rierson stresses the importance of working with an agent who specializes in investment properties, as they’ll be able to help you identify high-potential properties, negotiate favorable deals, and provide valuable insights into local market conditions.
“The best agents are more than just salespeople,” Rierson says. “They’re your trusted advisors, with the experience and expertise to help you make informed investment decisions.”
The Attorney: Protecting Your Interests
Real estate transactions can be complex, and having a reasonable attorney on your side is essential to ensure that your interests are protected. Whether drafting contracts, negotiating deals, or handling disputes, a skilled attorney can provide valuable guidance and legal expertise to help you navigate the process.
Rierson recommends finding an attorney specializing in real estate law with a track record of success in representing investors. “Your attorney is your first line of defense against potential legal issues, so it’s critical to choose someone you trust and feel comfortable working with,” he advises.
The Accountant: Keeping Your Finances in Order
Real estate investing involves a lot of numbers, and it’s essential to have a skilled accountant on your team to help you keep your finances in order. From tracking income and expenses to filing taxes and managing cash flow, an accountant can provide valuable insights and advice to help you make informed investment decisions.
“Your accountant is your financial quarterback, helping you stay on top of your numbers and identify areas for improvement,” Rierson says. “Make sure to choose someone who specializes in real estate accounting and has experience working with investors like yourself.”
The Contractor: Bringing Your Vision to Life
Whether you’re flipping properties or simply looking to improve existing ones, having a good contractor on your team is essential. A skilled contractor can help you identify cost-effective solutions, provide accurate estimates, and ensure your projects are completed on time and within budget.
“Your contractor is your partner in bringing your vision to life,” Rierson explains. “It’s important to choose someone who has experience working with investors and understands the unique challenges and opportunities that come with real estate projects.”
The Property Manager: Keeping Your Investments Profitable
If you plan to rent out your investment properties, having a good property manager on your team can make all the difference in keeping your investments profitable. A skilled property manager can help you screen tenants, handle maintenance and repairs, and ensure that your properties are well-maintained and compliant with local regulations.
“Your property manager is your eyes and ears on the ground, helping you keep your investments running smoothly and efficiently,” Rierson says. “Choose someone with a track record of success in managing properties like yours and who shares your commitment to quality and customer service.”
Conclusion
As Richard Rierson knows all too well, real estate investing can be a challenging and complex process. However, by building the right team of professionals around you, you can help ensure your investments are successful and profitable for years.
Whether you’re just starting as an investor or looking to take your portfolio to the next level, remember to prioritize finding the key players you need in your corner: a real estate investor’s guide. To learn more about real estate investing with Richard Rierson, follow on Twitter @richardrierson.
