The Dangers of Being a “Lone Wolf” in Real Estate Investing
Whether your brand-new real estate investor or you’re a seasoned professional, you’ve probably heard that it’s no good to be a “lone wolf” investor.
Why You Need an Amazing Team to Be an Amazing REI
You’ll need to be well-versed in all aspects of real estate, but you can’t do it all yourself. Behind every successful REI is a great team of professionals, each with his or her own specialty, who is dedicated to the investors success (often, because each professional’s success is time into the investor’s success).
Who Should Be On Every REIs Team?
Every real estate investor needs, at minimum:
- A Realtor
- A reliable lender
- A home inspector
- Contractors, including plumbers, electricians, and other professionals
- An attorney
What Happens When You Don’t Have a Real Estate Investing Team?
It can be tempting to try to do all of the work yourself, but at best, you’ll be stretching yourself very thin. At worst, you’ll lose deals, cost yourself more money than you make, and even fail as a real estate investor.
Think of it this way: it may cost you in the short term to hire all the professionals you need. However, it will pay off in the long term because you’ll be able to buy, repair, and sell better (and more desirable) properties because you’ve had all the help you need. Having the right team behind you can enable you to grow your real estate investing business to the point you’ve always dreamed it would reach.
Do You Need a Hard Money Loan in Atlanta?
If you’re looking for a hard money loan in Atlanta, we may be able to help you.
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.
Read our frequently asked questions and take a few minutes to learn about the hard money loan process.