How do I build my investment network?

| October 1, 2012 | 0 Comments

One of the most important factors to consider when building your portfolio of real estate investments is your investment network. These are the people that offer essential support to your business.

Your support network will be made up from experts and professionals from the field of real estate, these will include other likeminded investors, lawyers, accountants and realtors as well as possibly your own virtual assistant that takes your administrative nightmare away.

Astute investors around the world, in the current climate, are using “virtual real estate assistants” in order boost investment opportunities and to have a lasting impact on their real estate business.

A virtual assistant is someone who is employed to make your life easier. They can take on a number of responsibilities and as their knowledge grows, they should become a real asset to your real estate team.  Personal assistants have been around in businesses for years, but now with the power of the internet, you can utilise the services of someone who is not actually based in your office; hence the term virtual assistant.

You will of course need to invest some time into your assistant training them on the way you wish to work and the duties that you will require of them. Once they are up to speed though, they can handle all the tasks that take your time away from focussing on building your real estate empire. A good assistant will carry out all the necessary research for you and compile reports and lists as to where the best opportunities are based. They can liaise with the rest your real estate team, such as lawyers, financial advisors, real estate brokers, lenders etc., giving you the time to just make the decisions and work out the best way for you gain the biggest returns from your investments.

Once you have invested your money and completed on your purchases, your V.A can liaise with your property management teams in order to ensure that your returns keep coming and that nothing goes wrong.

A good V.A will keep you level headed and keep your stress levels to a minimum. They can handle all the tasks that you will find laborious and none rewarding on a financial level, such as researching areas, locating properties to view and checking your cash flow. They can also handle the additional problems that crop up occasionally such as finding an electrician at 4 in the morning because your property managers seem to be in bed and are not answering the phone.

Once you have trained your V.A and got them working to the level you desire, they will be then be worth their weight in gold. A good V.A will be worth far more than you pay them and the increase in your returns will demonstrate their benefits. This coupled with the time you will gain will allow you to enjoy the benefits of being a successful real estate investor.

Bio – Matt MacLeod is a freelance legal writer. When not writing articles on finance he can be found working with companies such as NSW Compensation Lawyers

Category: Investment

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