Is your real estate investing team in place? You won’t be very successful without a team. That is simply because there is so much work, and so many disciplines of knowledge involved, that you simply can’t do it all. There is not enough time for you to become proficient enough with real estate law and accounting, plus broker your own deals and manage your own properties. You have to delegate. Start with an attorney, an accountant, a broker and a property manager. Use the Minnesota MLS as a resource to locate property and after that, you will need appraisers, tax consultants, a surveyor, a structural engineer, an architect, an estate planner and more.
This holds true especially if you property is a multi-family dwelling such as an apartment high rise. If it is a good property in a good location, and you take care of it, chances are that occupancy is going to stay up. With a property like that, your earnings tend to increase exponentially. With good management, that is almost guaranteed.
