Many first time or smaller real estate investors are the consummate “do-it-yourselfers.” However, mistakes in real estate investing can be very costly both in the short and long term. Do you have good title? What is the property really worth? What is the rate of return on this property? Are there any non-visible property defects? What repairs are actually needed? What is the cost of those repairs? Are there existing code violations? What are the rental rates the area can support? What financing options are available for my situation? All are very valid questions. Professionals can guide you through this maze. Sometimes the assistance of professionals will save you thousands by recommending that you not invest in a certain property. If you do move forward, you will do so with a certainty of knowing exactly what you are dealing with.
When it comes to your health, you would never consider anything less than what you perceive to be the very best surgeon to operate on your body. I challenge you to think of your real estate investments as being of equal importance. Consider hiring professionals to assist you in the investment real estate process. That list could include real estate brokers, attorneys, CPA’s, property managers, surveyors, contractors, engineers, insurance professionals, appraisers and financing consultants. All can provide invaluable guidance and expertise in the area of investment real estate and help to protect your investment.