Q&A: Building Your Team Before You Buy Multifamily Properties
As I continue to look for great properties for us to invest in, this week I got a question from someone I worked with in Corporate America a few years ago. This question is asked often, so I thought I'd share the answer with all of my readers...
Q (Jacob): I am interested in acquiring a small portfolio of properties that can cash flow and pay down mortgages while hopefully appreciating a bit. What do you think I should do?
A: Before you start writing offers, the smartest move is to build your team. Real estate is a team sport, and the right professionals can save you time, money, and frustration. Here’s a quick checklist of key players to lock in before you pursue deals:
- Broker/Agent – Find someone experienced in your target property type. That often means one Realtor for small rentals (1–4 units) and a separate broker for multifamily (5+). Each world has its own nuances, and expertise matters.
- Mortgage Lender – Work with a loan officer who specializes in your segment. Don’t assume one person can handle both residential and commercial financing well. Get pre-approved so you know your buying power up front.
- Insurance Broker – Use a broker (not just a single carrier agent) who understands multifamily and light commercial. They can shop multiple products and tailor coverage to fit each property.
- Inspector – Line up an inspector with multifamily due diligence experience. Ask to review sample reports—even scrubbed versions—so you know they catch details that matter to investors.
- Tax Professional – Hire a CPA who understands multifamily investing. Your current accountant may be great for personal returns but may not know the tax strategies that maximize real estate performance. This switch alone can be a game-changer.
- Specialty Contractors – Build relationships with a roofer and a foundation company you can trust. They’re invaluable during inspections and negotiations when hidden costs might otherwise slip by.
Bottom Line
If you build this team before making offers, you’ll be prepared to move quickly, negotiate with confidence, and avoid the scramble that trips up many new investors.
