Bulletproof Your USA Real Estate Strategy

July 1, 2015

Real Estate Is A Team Sport – Part I

 

Copyright: <a href='http://www.123rf.com/profile_nomadsoul1'>nomadsoul1 / 123RF Stock Photo</a>Overseas investors are continuing to snap up houses for sale in America. Growing a real estate portfolio anywhere in the world requires a goal and an action plan to achieve your objective. In my experience, US property investors who embrace the concept that real estate is a team sport end up with a bulletproof game plan.

The property game is fluid and constantly changing. Income follows assets, so steadily adding to your portfolio is how long term wealth is achieved. Your job as a proactive investor is to recruit a team of professionals who complement the real estate and financial services industry and develop a plan to grow you property asset base and multiply your wealth.

Accountants are a key player on any investor’s team. Like any profession, accounting has its specialties and your job is to find an accountant who understands the real estate game. Owning US property has many legitimate tax advantages. In order to fully unlock the full potential of your USA real estate investment you will want to work with an accountant who understates how to maximize the benefits of owning investment property.

Mark Bouris, the founder of Yellow Brick Road says, “Debt is not a burden, it’s a tool.” Sourcing the right lender or source of funds is an important step in growing your property portfolio. A mortgage broker or banker who understands your long term goals and vision will be able to advise you on the best products available in the market to help you reach your target and bulletproof your borrowing strategy.

Insurance is a business expense that we have to accept as part of the game. Having an insurance agent on your team who understands your real estate game plane and risk tolerance is important. Different properties may require various insurance cover. Investors have their own unique risk profile. Building a relationship with an insurance agent who understands your goals and profile is important.

American property managers are the glue that holds your portfolio together. Communication and trust are essential. Property managers manage both your asset and the people who pay the rent. Their job is much more dynamic that simply collecting rent for their landlords. A well structured communication and reporting plan is important so that you are actively aware of the status of your rental properties. Active investors know when leases expire, keep track of market rental rates and have a maintenance plan in place. Checking in with your American property manager in always a good a thing.

Every real estate market will have its local experts who specialize solely on finding deals for investors. Your job as an active investors is to seek out these experts and get them on your team. You will find that the best sources are often seasoned investors themselves who have years of experience working the trenches of their preferred market. These agents aren’t afraid to roll up their sleeves and get their hands dirty. The first question you should be asking is, “How many properties do you own?”

Property investing should always be approached as a business. For a business to grow, a plan and a team are required. Recruiting your “A-Team” who understands your vision as an investor is a sure way to bulletproof your real estate investment strategy. Having a team behind you will grant you access to skills and resources that you will not possess yourself.

 

Invest well,

 

John Carney