Real estate investing is a great way to invest your money, letting you put your money to work through all kinds of different means that not only help you month to month, but act as long-term investments that can really be worth your while. But before you wade into the waters of real estate investment, you’ll want some people who can help you make good decisions. If you’re just starting out in the investment world, these are three professionals you’ll want on your team.
1. A Lawyer
Investing in real estate requires legal expertise that most people simply do not have. From transferring large amounts of money to securing your investments, a lawyer is someone you will need in your corner after setting out into investments. This is especially true if you are moving into the rental property game, where inevitable disagreements may require a legal intervention. While bringing a lawyer under a retainer is probably not immediately necessary, you will want someone’s phone number, so before setting out, make sure you have a lawyer with real estate experience in your rolodex. They can save you time and worry in nearly all steps to smart real estate investing.
2. An Accountant
From taxes to benefits, an accountant with real estate experience is worth their weight in gold when it comes to real estate investing. Only an accountant can properly handle all your paperwork, and make sense of all the various taxes that come up when you manage multiple properties. So rather than wade through the paperwork yourself, it pays to give those responsibilities to someone with the experience and knowledge necessary. They’ll be especially useful come tax season, but the right accountant can help you every step along the way.
3. A Real Estate Agent
While a lawyer and accountant can help you when it comes to buying and sustaining any real estate investments you may have, only an experienced real estate agent can help you purchase properties that are actually worth your while. They can help you get a lower price through their experience with the real estate market, but they can also give you insider knowledge on whether or not the real estate you’re looking at is actually worth your while. So before you start looking for property, look for a real estate agent. The savings and sound investments that they can hep you find are easily worth any fees.
Real estate investment can be a very lucrative way to make consistent money, but the wrong investment, or poorly managed properties, can end up costing you money in the long run. With the right team, however, you can save money and help your investments grow, and that means legal, finance, and real estate expertise that you can draw on to make your money grow right.