Realty411 Magazine Featuring Scott Meyers | Page 54
Once you put your dream
team in place, you’ll be
able to close more deals
more quickly and easily
than you ever imagined.
Next, your dream team needs
to include a title agent and/or a
real estate attorney. These people
are going to insure your deals
close smoothly and with a clear
title. A real estate attorney can
help you to solve a lot of problems
that can arise during a closing,
such as a title glitch, a survey
problem, or estate and probate
issues, just to name a few. As you
develop a relationship with your
title agent and/or real estate
attorney, they will become a major
asset to your business by being
better able to work oneonone
with your sellers and you to make
sure all your deals close as
smoothly as possible. You also
need to make sure that your title
agent and/or real estate attorney
are bilingual so they will be able
to work with your Spanish
speaking sellers as well. This part
of your team is one of the most
important. If any part of a deal is
going to fall apart it is going to be
during the process of closing.
Make sure you choose the best in
the industry to close your deals
from the very beginning, even if it
costs a little more!
Using the same “team” to close
all your deals for you will give
you credibility as a real estate
investor both with the sellers you
are dealing with and with other
vendors you will count on to bring
you deals, such as Realtors or
mortgage brokers. When you use
the same people to close deal after
deal for you, they will be willing to
go the extra mile to help you in
any way they can to get the job
done. In addition, they will be able
to communicate with one another
concerning problems without your
having to get involved.
Some of the other vendors
you’ll need to have on your team
include a surveyor, a pest control
company (for those states that have
termite inspections) private or hard
money lenders, an insurance agent,
an appraiser and a home inspection
service. You will add to that list a
mortgage broker, a Realtor and any
other vendor that might be unique
to the area you live in. These are
all people you need to have in
place to help you get your deals
closed as efficiently as possible.
A friend of mine once told me,
“Success is dealing with people as
they really are, not what you would
have them appear to be.” Know,
beforehand, the strengths and
weakness of your dream team.
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Establish a rapport and
relationship first. Dream team
success is greatly affected by
lasting relationships. These do
not happen overnight. Remember,
success breeds success. Create
your dream team from only
successful people. The longer you
work with the same vendors in
your business, the more credibility
you build along the way. Don’t
keep switching vendors from deal
to deal just because someone is a
little cheaper.
Your ability to close quickly
can make or break a deal for you.
There have been many times
where I was able to work with a
seller instead of another investor
because I was able to close within
days instead of weeks. Sometimes
a seller’s circumstances dictate
that they need to close within
days. If you can’t accommodate
them, they will find someone who
can.
Another reason you want to
have your dream team in place is
because they will work together
for you without you having to be
involved in any of the headaches
of a closing. It’s rare that I’m ever
involved in any of the details of a
closing until the closing date. The
way I handle my “dream team” is
this: each member of my team
knows who all my other vendors
are and they have contact
information for each of them.
When a problem arises with a
closing, they are able to work
together to solve it without any
involvement from me at all. This
is a great way for your closings to
be handled on “autopilot” almost,
giving you more time to create
more deals or do other things that
you want to do.