An investing team is basically a group of people you can depend on when you’re set on acquiring commercial properties. Your success as an investor is determined by the people you have chosen to join your group. For me, having the right people is essential if you want to nurture your business.
Indeed, you can achieve a lot of things if you have people who can deliver the best possible results. After all, purchasing an apartment complex requires attention to detail, patience, and persistence. The process involves a lot of steps, so it’s important to build a team that’s also in the right mindset in handling each step without any issue.
When building an investing team, it always helps to put your goals in mind. What is it you want to achieve as a multifamily syndicator? Are you more focused on securing a steady cash flow? Do you want to acquire a certain number of multifamily units? By defining your goals, it becomes easier for you to find people who can help you accomplish them.
It all depends on how you build your investing team. For sure, it starts with knowing where to find the talents that you need for your business. Let’s list down some of the ways you can search for the right people right now!
Being more than just another social networking service, LinkedIn is an apt platform for both professionals and business leaders. For companies that want to augment their workforce, this site is a good place to search for young and tech-savvy professionals who are more than willing to lend their talents to pursue your goals.
To find the right members for your team, simply use relevant keywords in the search field. You can narrow down your search by filtering possible candidates by interest, industry, language, and location.
Aside from going online, you can search for potential investment partners in person through events such as forums, trade shows, and webinars. You can do a quick Google search for events in your area. You will definitely find someone who has enough experience to join your team.
Register to these events and make sure to rehearse your “elevator speech.” The way you introduce yourself is always crucial if you want to draw people to the business you are building. Also, you need to show confidence when proposing an idea, so as to capture the interest of potential team members.
People within your network can help you find the right talents and skills for your investing team. The advantage of asking for referrals from close friends, family members, and fellow investors is that it makes for an easier to find people you can trust. For instance, your business partner can recommend a trusted attorney for your syndication. This shortens the tedious process of finding someone who can become the legal expert for your group.
Although, you will have to be very careful when asking for referrals. Bias can be an issue that’s difficult to overcome. Whenever you are referred to a potential member for your team, you need to ask questions about the person’s experience.
As you can see, you don’t have to search high and low for investing partners with the right skills. All you need is to apply these tips when searching for them.