As a follow-on to the last several posts I have done on real estate investing as a means to fund retirement, following is some helpful information on keeping your real estate business activities organized.
My first advice is to surround yourself with a team of competent professionals. To have a good real estate experience, with a high probability of profit, then you will need to contract at some point or another with the following:
This is an financial expert that will help fit all the pieces of the financial puzzle together; this is not the same as a financial adviser or financial planner. A financial coach is one that can show you how to put principles (not products) in place to manage your own money successfully. This financial coach must know what all the pieces of the financial puzzle are and how to put them together in the right order so they can work together at the same time. Go to www.moneymastery.com to learn more.
Consider using both a residential and commercial agent; besides assisting you in searching for properties, they are an additional resource in keeping information about the various properties you are researching organized.
Use an attorney for both contract law and/or sound feedback.Appraiser
The difference between various appraisers can be night and day, but finding a good one that can help you determine accurate value is crucial.
Pick one with expertise in real estate tax law; this will help you be confident in your real estate activities and can help you stay organized when tax time rolls around.An Insurance Agent
It is vital that you select an experienced agent who knows the rules about real estate and how changes in the marketplace can affect insurance coverage.
A stager or designer provides furniture and décor that can help you favorably present and sell private and/or commercial real estate properties.