How to Build a Real Estate Investing Power Team

As you continue to read about real estate investing, you will no doubt come across the term 'power team'. What is this 'power team'? A power team is a group of people without whom successful real estate investing becomes very difficult, if not impossible. Included in a power team are at least one real estate agent, a mortgage broker, and a real estate lawyer, all of whom will have experience in creative real estate investing.So, how do you go about building this team? Well, you could just get a copy of the Yellow Pages and start calling, but that will most likely take a very long time, time that could be better spent working on real estate deals! Wouldn't it be better to have these people call you? I thought so, so here's what I did. Keep in mind that this technique not only netted me a power team, but also a list of potential partners/buyers for future deals.The local paper offers a deal on weekend real estate listings, so I placed an advertisement in the paper that read:"Fixer-upper for sale. Cheap.

Need cash and quick closing. 555-5555"What sort of people would respond to an ad like this? Some will be tire-kickers and the curious, but a good number of callers will be investors and real estate agents. I had the number in the paper forwarded to a voicemail service, and it's a good thing I did as there were a lot of calls! I find that those who are just curious about the ad tend to hang up without leaving a message, so that takes care of those that aren't serious.After listening to the messages I found that there were two real estate agents that had answered. I called the first one, George, and told him that the home had sold, but would he be interested in working with fixer-uppers in the future? He replied that he would, but didn't seem interested in discussing it much further. Now, I should mention here that I never actually had a home to sell - what I posted is called a 'ghost ad', used to guage interest in something.

You may not feel entirely comfortable with this, and that's fine. Simply post a different ad that gets the same sort of message across.The next agent, Elizabeth, was much more receptive. We spoke for well over an hour about her experiences in real estate - it turns out that she actively invests in real estate herself. She would be more than happy to search the mls on my behalf, as well as submit as many offers as I would send her way. Perfect! And here's the best part: since I had found a real estate agent who also invests, I was also able to use the resources that she uses in her deals.

So I now had access to a great real estate lawyer as well as a mortgage broker, along with a recommended property inspector. That saved me loads of work and time. My power team was now complete!I've since become good friends with Elizabeth, and she regularly sends me listings that haven't made it to the mls yet. This gives me a huge advantage in pursuing deals as only a relatively small number of people are aware of the sale. I picked up my latest rental property this way - the property was going to be listed on the mls in two days time, but since Elizabeth let me in on the deal early I was able to close before the general public became aware.A good power team is crucial to your success as a real estate investor, and oftentimes finding one member of the team can lead you to the others.

Happy Investing!.

Adem Hamidovic is a part-time real estate investor and operator of www.ProfitPiggy.com, a website devoted to new and experienced real estate investors alike.admin@profitpiggy.com

This Is A "No Real Estate Guru Zone"

I am stunned when I hear that many of the so called real estate gurus are charging from $3,000 to $15,000 for their seminars and "mentoring". Has the world gone mad?As a real estate investor and author I am often asked if I can recommend these real estate seminars. I answer with a question... "What have you done on your own to learn about real estate investing?" Then I offer the following suggestions:Go to your public library and read all the books on real estate investing that have been published in the last ten years. Many of the gurus have written books where they explain their investing techniques...

the same ones they present in their high priced seminars. Libraries are FREE!Visit a few used books stores and you will find good books and often cassette tape courses on real estate investing. They will cost just a few dollars.On the internet you will find a number of real estate investing forums. Here you can interact with investors of all experience levels. Someone will ask...

This Is A "No Real Estate Guru Zone"
Real estate > This Is A "No Real Estate Guru Zone"

Central Valley Loans & Real Estate

(ContentDesk) July 29, 2005 -- Central Valley Real Estate Information - Free MLS Access, Local Real Estate Listings and over many Local Links are now available at www.otismillbrook.com The website was created and developed by Otis Millbrook, a Real Estate Salesperson with Stockton Financial Loans & Real Estate in the Central Valley city of Stockton.Visitors to the site can learn more about Central Valley Real Estate including the communities of Stockton, Manteca, Modesto, Tracy, and Sacramento by linking directly to the local multiple listing service (MLS). They can quickly view a large database of available homes, ranches and estates for sale throughout the Central Valley and even personalize your search to fit your specific loans and real estate needs. Access to the MLS is Free as is the variety of other helpful tools on the website including mortgage calculators, reports for buyers and sellers, and a very helpful...

Central Valley Loans & Real Estate
Real estate > Central Valley Loans & Real Estate

Luxury Waterfront Real Estate Specialist Launches New Luxury Real Estate Blog To Build On Already Successful Luxury Waterfront Real Estate Brand

(ContentDesk) October 26, 2005 -- John Mudd, a Realtor with Exit Realty Suncoast who specializes in selling luxury and waterfront homes and condos in Tampa, St. Petersburg, St. Pete Beach, Tierra Verde and nearby areas launched a luxury real estate blog today to build on his already successful brand. The blog, entitled Tampa Bay's Luxury Real Estate Journal (http://luxuryliving.blogspot.com), will feature luxury and waterfront homes, condos and news pertaining to the luxury and waterfront real estate markets. The publication will be mostly specific to Florida's Tampa-Clearwater-St.

Petersburg area, but will also include some Florida and national real estate news and properties pertaining to the luxury and waterfront real estate markets."People already seek me out for my luxury and waterfront real estate experience and expertise," said Mudd. "The new blog will help me connect with more people seeking to buy or sell...

Luxury Waterfront Real Estate Specialist Launches New Luxury Real Estate Blog To Build On Already Successful Luxury Waterfront Real Estate Brand
Real estate > Luxury Waterfront Real Estate Specialist Launches New Luxury Real Estate Blog To Build On Already Successful Luxury Waterfront Real Estate Brand

Real Estate Clubs Hot Among Investors

Six or seven years ago, the stock market was booming, Internet companies that no one had ever heard of were valued at billions of dollars, and anyone and everyone was investing their money in tech stocks. Then, in 2000, the stock market crashed, the Internet companies closed their doors, investors lost trillions of dollars, and life went back to normal, more or less. Five years later, tech stocks are nowhere near their 2000 peaks, but investors are salivating again. This time, they're putting their money in real estate, and they're forming real estate clubs to help them achieve greater success.There were investment clubs in the 1990's, where a group of people with common investing interests met regularly, pooled their money, and invested in stocks as a group. A few of them did well enough that they made national news.

Now the equivalent is the real estate club, but in these clubs, it's every person for themselves. Rather than pooling money for common investments, members meet...

Real Estate Clubs Hot Among Investors
Real estate > Real Estate Clubs Hot Among Investors

Commercial Real Estate Lender Pacific Security Capital Launches New Blog Site - Offers Structured Finance & Commercial Real Estate Advisory Services

http://www.pacificsecuritycapital.com - Pacific Security Capital, a leading commercial real estate lender, has recently launched a Commercial Real Estate Loans and Structured Finance blog located at http://commercialloans.blogs.com. The new Pacific Security Capital blog site offers news and resources pertinent to commercial real estate loans, structured finance and advisory services. "The Commercial Real Estate Loans and Structured Finance blog site is part of a multi-faceted program that positions Pacific Security Capital as a leading commercial real estate lender," said Mike Myatt, executive managing director of Pacific Security Capital. "The blog is dedicated to collecting valuable resources for the commercial real estate community." With blog readership rising by 58% since February 2004, according to a Pew Internet & American Life Project study, Pacific...

Commercial Real Estate Lender Pacific Security Capital Launches New Blog Site - Offers Structured Finance & Commercial Real Estate Advisory Services
Real estate > Commercial Real Estate Lender Pacific Security Capital Launches New Blog Site - Offers Structured Finance & Commercial Real Estate Advisory Services