One of the most important tasks to do in real estate investing is to build a Power team. Do you have a power team?
Those of you who are new to real estate investing are wondering, who is on a Power team? Well, just like Bill Belichick with the New England Patriots has his Power team, Brady, Edelman, Gronk, Amendola, etc…, you need to develop a real estate investing and life Power team. I will give you some examples and some access to some of my Power team.
Coaches and Mentors: These are the folks that know more than you do about real estate investing. They can help you avoid costly pitfalls and if the deal is good, they are willing to joint venture with you so you can earn while you learn. My favorite coaches and mentors are Kim Harrington and Chris Coute with Brownstone RG. I learn something from them everytime I am around them. I am currently refreshing some wholesaling techniques using a new program they have. They have offered some free training to give you a sense of what the program is like. To learn more and get access to the free training click here! They are taking the free training down soon because the 6 week course has a limited number of spots available for students. Chris is coming to the meeting tonight, so make sure to get his business card.
Deal finders: In real estate, you need to find deals. And, you need to let others know that you want to find deals. One of my favorite deal finders is Dickens Hayti Pierre-Louis with Rise Up Real Estate Solutions. Reach out to David and Xavier with Newline Properties and Lee Kravitz with LSK Real Estate Investments if you have a deal. It’s also important to learn who the deal finders are and get on their list. I also recommend getting to know some of the local Realtors that are in your area. They can bring properties as well as buyers for the properties you are working on. A few of my favorite Realtors include Terri Naroian and Ali Ludwig. They are both investor savvy and great folks to work with. Terri also provides comps to members of Boston AREIA. You can reach her at email@example.com, 617-669-1698. You can reach Ali at firstname.lastname@example.org, 978-869-9321. BTW, Ali is looking for a house in the $250k – $300k range in the Chelmsford area. And, when you reach out to these ladies, make sure you let them know that you got their info from Bernadette.. 🙂
Rehabbers and Developers: Even if you are a rehabber or a developer, you want to make connections with other rehabbers and developers. Now, of course Kim and Chris from Brownstone are in this category. But, I have to tell you, they have developed some terrific rehabbers who were students of theirs through their Joint Venture program. Keri and Tanya Akmezykian with Watchcity Properties and Mass Cash Homebuyers are fantastic! They started a little over a year ago and are on their 6th or 7th property. I know a few Commercial Devleopers, but, I wanted to mention one of my BNI Power Players Steve Mcgovern with Merrimack Atlantic, got any questions about commercial properties and such, reach out to Steve at email@example.com, he can most likely help.
Lenders: You definitely need to make connections with lenders, that’s for sure. Be sure to reach out to some local banks, they may have some investor programs that might interest you. Karen Davis with Eastern Bank is fantastic, you can reach her at firstname.lastname@example.org , Brian Hatleberg with ERA, email@example.com, can help with refinancing and mortgages, oh yes…and I do have hard money lenders. To learn more and get connected with them visit http://bostonareia.com/how-do-you-fund-your-real-estate-investment-deals/ .
Lawyers: Lawyers help to get the deals closed, so they are very important in your business. You will always develop a favorite lawyer, but, it’s always good to have a number 2 and 3 go to person for your deals. I know more than 3, but, here are a few you can choose from: Ken Cossingham with Cossingham Law (he also helped with my estate planning), Jordan Weiner with Dalton and Finegold, LLP can be reached at firstname.lastname@example.org, and Christa Emerson with http://www.cemersonlaw.com, who also helped my friend with Disability Law questions. Many people cringe when they hear the word lawyer…not me, I know one for just about everything. Taylor Dauksewizc (http://s-dlegal.com) handles employment law (she will even write your employee manual), Amber Talbot, email@example.com will help with family law and Deb Concepcion, firstname.lastname@example.org, will help with personal injury cases. People cringe when the hear the word, that is until you need one…lol
Financial guys: You know, those folks that you put off seeing until it’s too late. Don’t put off meeting with the financial guys. They can help with many things. My first financial guy is Joe Craft, email@example.com, he is our speaker tonight. His team helps with bookkeeping, payroll and saving me money on taxes. His philosphy that it doesn’t matter what you make, what you keep is what matters the most has helped me to save a ton of money on taxes over the years. Then, I have Ryan Hart with New York Life, firstname.lastname@example.org, helps with my insurance to make sure that my family is all set if something happens to me and Jeff Spencer, Jeff.Spencer@cwmofnewengland.com, helps with non real estate related investments. It’s good to diversify and multiple streams of income are important.
Service professionals: I have some terrific folks in this arena:
- Chris Richards with Mill City Designs will help with everything from logo design to promotional products such as flyers and clothing with your logo on it.
- Edervol Tristeo with http://www.tristarpaintinginc.com/ is more than a painter, he does fantastic finish carpentry.
- Vinh Ngo with Martin’s Floor sanding, email@example.com, does a great job at re-finishing or installing new hardwood floors.
- Jonathan Amaral with Federal Carpet and Flooring, firstname.lastname@example.org can help with carpet and flooring needs.
- Dot Richards, email@example.com, helps you keep in touch with people regularly with Cards by Dot. Great way to earn and retain clients.
- Bill Campbell, firstname.lastname@example.org, is an incredibly funny comedian and if you know of non-profits that are doing fundraisers or company functions, he’s your man!
- Michael Lawlor with Liberty Mutual, email@example.com, will help make sure that you are covered, whether you need to provide insurance options for your company, insure your house, car or your new driver, Michael can help and he can most likely save you some money.
- Nick Gennetti, firstname.lastname@example.org can help with your commercial insurance needs.
- Tobi Cutler, vividbeautysalon.com will keep your hair looking stylish…hey…everyone needs a great hair stylist!
- Jean Courtney, http://www.designsbyjeancourtney.com/ will help with interior design with your projects.
- oh…and me, Bernadette@BostonAREIA.com if you need help with marketing.
Ok…so, I know more…but, thought it would be a good list for you to start from and some folks with whom you can connect. These are all a strong group of go to people for all of my needs in personal life, in business life, in real estate investing. Reach out to these folks, network as much as you can and develop your own list of go-to people. And, remember, keep at least a second choice available, just in case your number one gal or guy isn’t available to help.
Bernadette Trafton, Boston AREIA Chief Connector