Choosing The Right Turnkey Team For Your...

teamwork Let’s say you’ve found the right market you want to invest in… well, hats off to you. That’s a big challenge to conquer! Once you’ve accomplished that feat, it’s time to flex your real estate investing muscles again…

Now you’ve got to find the right team to fit that right market.

Finding the right team is key to the success of your business, especially if you plan to invest out-of-area.

Hey guys, Chris Clothier here, I invest in both my own market and other markets around the country. But no matter where I invest, I never go it alone. I have a team – an awesome team – that handles the day-to-day operations that keeps the business juices flowing.

The Quick 411

Just in case we’ve yet to meet on Mogul, here are a few tidbits about me...

I manage the development and implementation of sales and marketing processes for Memphis Invest, and I serve as the external voice for the company, working with the team to help potential investors define their purpose for investing in real estate. I also enjoy educating peer companies on best practices.

Yep, I’m a helper because I’m passionate about this industry and all that it brings.

Leverage Your Team’s Talents to Build Your Business

I want to hire the best people to handle my business projects for me.

Even when I invest in my hometown, I leverage the time and talents of my team, specifically my team leader.

So while I do hire a team, I’ve found that it’s much easier for me to manage one person - my team leader - than it is for me to manage each and every team member. I delegate that job of managing the team, among others, to the lead.

My time is best spent tackling high-level business-building tasks, so I rely on my team leader to designate other tasks to rest of the team - tasks that include crucial day-to-day operations and communications.

I like to call my team members turnkey vendors, and finding these key players is all about asking the right questions and being prepared with the right answers.

Is “Real Estate Investing” a Foreign Concept?

The first thing you want to ask your potential turnkey vendor or team member is:

“Do you understand investors?”

Dig deep to find out if your vendors grasp the concept of real estate investing. Do they understand investing processes, terms and systems?

Note to self: If your vendor looks at you like you have three heads when you say “real estate investing,” run for the hills and don’t look back.

Here’s the deal…

team Ideally, you want your vendor to be either an active or former investor themselves. I mean, it takes one to know one, right?

You want vendors who have worked in the trenches, who have experienced their own failures and successes. These are the team members who will have what it takes to help your business not only survive – but thrive.

And if you can find vendors who are investors AND have experience investing remotely, even better! Chances are they’re more experienced, and they can better understand your thought processes, concerns and expectations.

This is critical!

See, these people know what’s in an investor’s mind and know what they care about and worry about. Knowing all of this helps them provide you better-quality deals.

At the end of the day, you’ll feel more comfortable knowing your team leader has walked many miles in your shoes.

Protect Yourself

The second thing to consider when bringing on a new team member – especially if it’s in a remote market – is to be sure your team members are selling their own properties.

What I’ve come across – too often – is people simply selling other people’s properties either by having them locked in a contract or selling properties for a commission.

The last thing you want is to buy from someone who is selling another person’s property for commission.

Why?

Well, because that person is not in control of the property and doesn’t know the important details you need to know to make a wise investing decision.

Buy from companies and people who own what they’re selling.

That’s a Wrap

Here’s hoping you’ve gained a bit of insight into building your turnkey team. Now get to building your own turnkey team and growing your business today!

Note: Want a step-by-step process to finding, securing, and managing out-of-state rental properties? This is only 1 of 7 super-secret keys that I cover in my brand-new real estate investment success report.