Putting together the right team for your project

What’s the only thing worse than having no team for your investment, remodelling or rebuilding project?

Having the wrong team!

Unless you’re a full-time investor, most people have a day job. If you’re one of these people, then you’re going to need to rely on other people to implement the BuildSmart program. These people have the potential to act like your trusted advisor making for better decisions and a better outcome for you. The trick is finding the right ones.

The traditional way of finding and connecting with these people was asking friends and relatives to refer you to a real estate agent, contractor, etc. The problem with this approach is two-fold. First, if you’re new to an area you just might not know that many people to ask.

Secondly, people will always pass along a name, just to be helpful.  These are usually the most counterproductive. Maybe they bought a house but it was five years ago, since that time their mortgage broker has gone back to waiting tables or fled the country, who knows but the referal at this point is useless.

There’s also an important element of chemistry at work. There is ample research people respond to and hire people like themselves. The problem is that selecting an advisor solely because you get along with them is the wrong criteria. “Go along to get along” is the recipe for disaster.

So, go ahead and ask away, but make sure you’re realistic about the limits of this information. While a recommendation from a trusted friend is the best way to find a referral, if you’re new to an area or a first time buyer, this can be easier said than done.

Let BuildSmart help you build the right team of professionals you can trust to keep your best interests first and foremost. BuildSmart is unique in that our approach is designed to benefit the homebuyer or renovator - not take advantage of them. Contact us today to learn more about the BuildSmart difference.

The Lost City of "K"

During the 1920’s a mythical city “Z”, was reported to be hidden in the Amazon. Rumors of this city lead many explores to risk it all and try and find this city. For every explorer that never returned, the legend only grew. Col. Percy Fawcett, a legendary British explorer, allegedly heard about this city in the early 1900s and went to Rio de Janeiro to learn more, but never found the city. Instead, in 1925, Fawcett, his son Jack, and Raleigh Rimell disappeared in the Mato Grosso region of Brazil while searching for "Z".

Like the lost city of “Z”, the 203K loan program remains a myth for most borrowers. Because of the built-in bias previously described, most mortgage brokers and real estate agents want nothing to do with these loans, so, their loan volume is only a tiny trickle compared to conventional FHA loans.

However, unlike the lost city of “Z”, they do exist; the challenge is knowing the process and working with the right people to make the process work for you.

BuildSmart can help you find the Lost City of "K" - where these loans really DO exist and can be put to work for you. Contact us today for more information.