that come up during closing.
Even if your state doesn’t require you to use an attorney, I highly recommend adding one to your team anyway. They can review brokerage agreements, discuss tax consequences of a sale, explore and explain issues not contained in a standard contract (such as if your property contains hazardous waste), and explain closing costs and help determine if all are fair. Just as important is having an accountant who has the experience working with real estate investors. They will be up-to-date on all the latest tax laws and make sure you’re able to take advantage of as many as you can. There’s even a possibility that the money your accountant saves you will cover what pay them — and maybe even more! They’ll also help you stay on top of things, which means less work and stress for you, which is certainly worth it, as well. A property manager can be helpful if you’ve got a number of investment properties or even one large one, such as an apartment complex or large strip mall. They can handle all day- to-day issues that come up, collect rent, and bring in and screen potential tenants. For more information, please refer to Chapter 11. A true Mentor or Coach will encourage you every step of the way, working with you, explaining and directing you toward the dreams you desire. The right Teacher will help you identify your weaknesses and teach you to turn them into strengths. They will observe the things you are doing wrong and explain to you what needs to be done to correct them. They will provide continuous support, positive feedback and a specific plan that leads to success. They will also provide the constructive criticism needed to turn your dreams into reality.
Having a good coach is very effective, because the right coach
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