Who do you need in your Power Team?
Power Teams continued...
Last week, Mpumi introduced us to the need to surround yourself with a Power Team, we looked at the core members of your team and the role they’d need to play. This week, we’ll take a closer look at the rest of your team.
1. Letting Agent
It is YOUR investment so you need the best possible person to manage it for you.
The letting agent must be qualified and accountable, transparent, good communicators.
Strong marketing ability, advertise your vacant properties promptly and efficiently.
2. Estate Agent
Need a professional to help you negotiate complex property transactions.
Make sure they have the right qualifications and are certified agents.
Speak to at least 3 agents, work with multiple agents until you find the right one.
Your estate agent is a crucial member of your team.
Find an experienced creative architect who understands your strategy.
Creative superior building design, understand building rules, able to make best possible use of the space available.
4. Insurance Broker
Need to ensure the property is correctly insured. Imagine a giant tree falls in your backyard and causes severe damage – who is going to pay for the repair to the house?
5. Bond Originator
Massive time saver, submit all docs to one originator and get feedback from many banks at once.
Easiest, least expensive and most productive way of applying for a home loan.
It is the originator’s job to assist individuals to obtain the lowest possible home loan rate and to guide you through the process.
Important to find someone who understands what you are doing and who is able to go view properties with you.
You want to learn from them about the average costs of doing a bathroom, doing a kitchen then call them in to confirm final figures.
Make sure your accountant deals with property and understands all the property taxes and CGT implications so you get the best advice when you sell.