Assemble Your Rental Real Estate Support Team for Profitable Real Estate Investing

Landlords, are you ready to assemble a rental real estate support team? The following real estate investing tips will help you put together a team to help you grow your rental property portfolio and deliver a profitable real estate investing experience. If you are ready to grow your bottom line and enjoy the independence associated with earning passive income through rental properties, then use the following real estate investing advice to put together the best rental real estate support team.

Real Estate Agent Specializing in Real Estate Investors

When it comes to real estate investing, not all real estate agents are created equal. As a landlord looking to grow your rental property portfolio, your needs and property requirements are much different than a residential buyer looking for a new home.

If you are putting together a team to help grow your rental real estate business, then you will want to work with a North Carolina real estate agent who specializes in helping real estate investors. Having the right agent and real estate brokerage to help you locate and purchase profitable rental properties will save you time and allow you to focus on other parts of your business.

Relationships with Lenders for Rental Real Estate

Buying rental properties in North Carolina requires landlords to find financing for rental real estate deals. Just as it is beneficial to work with a real estate agent who specializes in helping real estate investors, the same can be said for lenders.

Getting approved for investment property loans by lenders can often be trickier than applying for a loan on a home where you plan to reside. Having a strong relationship with a mortgage loan officer at a small community bank or with an independent mortgage broker who understands financing for rental real estate investing is a huge plus when you are trying to build a profitable real estate investing business.

Insurance Agent Who Understands Investment Property

Landlords need special property insurance to protect their North Carolina rental properties. While most insurance agents can help provide landlords with coverage on their rental homes, can these same agents deliver insurance solutions designed to serve the specific needs of landlords?

That is an important question to ask yourself as a real estate investor. Find an insurance agent who represents a company or companies who offer customized insurance coverage plans for landlords and who can help you make the right choices to save you money, protect your rental property and give you peace of mind.

Reputable, High-Quality Professional Service Providers

Protecting and maintaining rental properties is a high-priority item for landlords who want to watch their bottom line grow over the years. Plumbers, construction contractors, HVAC professionals, pest control and exterminators, electricians are just a few of the professional service providers you will need on your team.

Because repairs and rental property maintenance are vital to growing your wealth, be sure to hire only the best individuals and companies for your rental real estate support team. Trying to save money by going with a lower-quality provider will inevitably end up causing more headaches and costing more money in the long run.

Add an Accountant to Your Rental Real Estate Support Team

Landlords receive many tax benefits by owning rental properties. An accountant that not only understands tax law for rental homes but also is a real estate investor would be an excellent addition to your rental real estate support team.

It is not an absolute must, however, for rental real estate investors to hire a CPA who focuses only on rental investors. You should, at a minimum, find a reputable, professional CPA. Otherwise, you may miss out on valuable tax benefits, especially if you attempt to do your annual taxes yourself.

Property Management Company Focused on Growing Your Bottom Line

Landlords have quite a few choices when it comes to choosing a North Carolina property management company. All of these choices, however, are not created equal. Because choosing a property management company by trial and error can be very costly to your bottom line, do not make a hasty, uninformed decision.

Landlords should do their homework before adding a property management company to their rental real estate support team. Go online to view their website and social networks, read online reviews, ask for input from other rental property investors, and most importantly, set up face-to-face meetings with property managers. Arrive at each meeting prepared with a list of questions about their services and systems and also ask to see successful results that the company has delivered for other real estate investors.

Ready to start assembling your rental property real estate investing support dream team? Why not start with the best property management company in North Carolina? Contact us now to discover why our landlord clients, who own rental properties in Raleigh, Chapel Hill, and Durham, say working with Red Door Company is The Right Way to Rent^®.