Teamwork really does make the dream work. If your dream is to become a successful real estate investor in Edmonton, building a supreme team is the first and most important step in realizing your financial goals. A good team should include the following 5 people… including a professional buyer like Titanic Properties who will screen the properties, do the math, and find the best properties available in Edmonton.
5 People You Need on Your Team As A Real Estate Investor in Edmonton
While asking prices may be an indicator of the value of real estate in Edmonton, a professional appraiser will provide data that you can rely on to make sound investments. You can be certain of the true value in today’s market. Appraisers have no hidden agendas when performing their duty of inspecting the potential investments and providing information about what influenced their final report on the property’s value.
The goal of building a real estate portfolio is to earn passive income, in other words, income that takes little to no action on your part. Property management includes dealing with advertising, renters, maintenance, repairs and a great number of daily tasks to keep on top of the property. They also know the current market rates and variables involved to adjust rent rates accordingly. This is why you should start exploring the property management options available to you in Edmonton. You’ll want to learn about their areas of experience, what responsibilities they will assume, and the cost of their services. You’ll also want to be clear about how much or how little involvement you want to personally assume in the day to day management.
The value of having a mortgage broker on your team with whom you have built a long term relationship is immeasurable. They act on your behalf and with a variety of lending partners at their disposal. Due to the different lending options, they’re familiar with, your specific needs can easily be addressed. Deals in the investment sector of the market move very swiftly. By being prepared, you won’t have to miss out on a deal wasting your time trying to find a financial resource to enable you to jump on a great investment! Just make sure you plan WELL AHEAD and give your Broker enough time to get any deals papered!
Real Estate Agent
Don’t overlook the value of a great agent. While you may have several Edmonton real estate agents that you work with based on who brings you a deal, its important to have a primary agent. Provided you communicate effectively, this agent can do so much to help you succeed. They can bring you off market deals…the ones investors crave so much. They can also provide comps for you to determine…if you should buy a specific property for a reno project and what the value of your target ARV should be on a reno project (begin with the end in mind!). They can also provide unique insights into which way the Edmonton real estate market is shifting. And it is always shifting. Sometimes nearly imperceptibly…but sometimes tectonic shifts are in play.
It all comes down to making the best selection with your investment dollar. Having a professional buyer on your team as a real estate investor is invaluable. They will help you better understand your purchasing power and the value of the properties you purchase to your future returns. With a full-time focus on purchasing investment properties, a professional buyer brings experience to the table. Instead of doing all of the leg work involved for yourself, they specialize in finding properties with the best potential for returns, knowing what to look for in the Edmonton real estate market, and walk you step by step through the numbers that provide the bottom line.
You’re building your future, let us help you make the most of the building blocks you use! When you’re building your team and looking for your professional buyer call Titanic Properties at 587 415-0587, we will screen the properties, do the math, and find the best properties available in Edmonton.