Real estate is often seen as a solo pursuit—one investor, one property, one big decision at a time. But in reality, real estate is the ultimate team sport. Whether you're acquiring your first rental property or managing a portfolio across multiple states, your success hinges not just on what you know, but who you know and how well you work together.

Over time, we've learned that one of the most valuable skill sets an investor can develop is the ability to build and foster long-term relationships with a team of experienced, knowledgeable, accountable, and honest professionals. Let’s walk through the key phases of real estate investing—Acquisition, Ownership & Management, and Sale—and explore the essential team members who play a role at each stage.

Phase 1: Acquisition

1. Fellow Investors

Other local investors can be a key source of information and support. Especially in the 1–4 unit residential space, many are open to collaboration, sharing resources, and providing referrals. We have found it valuable to join the local Real Estate Investors Association (REIA) and have at times worked with a paid mentoring group to accelerate our learning curve for a particular market and building our team.

2. Real Estate Agents

The best agents are investor-savvy, know the neighborhoods inside and out, and ideally own investment properties themselves. They can validate your assumptions about rental demand, pricing, neighborhoods and property specifications that your target residents are looking for.

3. Wholesalers (Selective Use)

Wholesalers can bring off-market opportunities, but the lack of due diligence periods means you need to be more experienced and meticulous in your vetting.

4. Loan Broker

A great loan broker will have relationships with a wide array of lenders, can match you with the right loan products based on both the property and your individual financial profile, and will proactively bring you refinancing opportunities.

5. Leasing Agent / Property Manager

Even before purchase, an experienced leasing agent or property manager with strong knowledge of the locality can help validate rent assumptions, neighborhood desirability, and provide a clear-eyed look at potential cash flow. Their assessments in our experience are key for validation, because after the transaction closes, they are the ones tasked with leasing.

6. Insurance Broker

Early involvement is key. In a volatile insurance market, as we have experienced in the last few years, a solid broker will help you explore different carriers and coverage options to manage premium costs without sacrificing quality.

7. Inspector

Your inspector is your first line of defense. You want someone who’s thorough—crawling attics, walking roofs, running sewer line cameras, and digging into every aspect of the property. They should have a deep understanding of code requirements, especially for older homes. From our experience, a great inspector will give you the full picture of the work needed at a property, which you can then fully incorporate into your numbers to see if the investment still makes sense, or go back to the seller for an adjustment to purchase price. We have walked away from some investments armed with a great inspection report, and sometimes the investment you don’t make is one of your best decisions.

8. General Contractors (GCs)

A good GC that can provide accurate estimates is critical at the acquisition stage for building out renovation scopes and helping you estimate your "all-in" costs accurately. We try to get a few bids at this stage, and if extensive, a minimum of three or four so we can accurately gauge the cost.

Phase 2: Ownership & Management

1. Tradespeople

You’ll need a trusted crew: handymen, electricians, plumbers, landscapers, cleaners, and more. Great vendors don’t just handle repairs—they help you prevent major capital expenses through timely maintenance. They also keep your residents happy, focusing on responsiveness to addressing any property issues as soon as possible. In our experience, great tradespeople can also be super-helpful in being your extra “eyes and ears” at the property, especially if you self-manage from a distance, and help identify any issues in advance, before they come larger ones.

2. Property Managers & Leasing Agents

We have worked with property managers in the past, and good ones are golden. At this point, we manage our properties ourselves, including ones that are not local, and we work with experienced, communicative leasing agents who are exceptional at handling all key steps of the leasing process, with our input along the way, including:

• Coordinating unit turns;
• Identifying potential value-add upgrades and potential rental increases that could be achieved with upgrades; and
• Marketing, screening tenants, and executing leases efficiently.

3. Property Tax Protester

In states like Texas, where reassessments can spike annually with no caps, a property tax protester (who works on contingency) can save you thousands.

4. Real Estate-Savvy CPA

Your CPA should be more than a tax preparer. Look for someone who is business and real estate savvy, and knows the details of real estate tax regulations and how and when to apply them for your benefit, including items such as cost segregation, bonus depreciation, real estate professional tax status, 1031 and other tax-deferred exchange strategies. With taxes likely being the largest ongoing expense you face in your life, a great CPA can be one of your most important long-term partnerships.

Phase 3: Sale

1. Real Estate Agent (Again!)

Oftentimes, the same agent who helped you buy can assist with the sale. If you're doing a 1031 exchange, they may even help identify a replacement property—whether locally or with a referral to another investor-focused real estate agent in a new market.

2. 1031 Exchange Agent

Critical for any tax-deferred transaction. This intermediary must be trustworthy, well-versed in IRS requirements, and organized to handle funds and documentation smoothly.

3. DST Agents

For those seeking a more passive investment after a sale, Delaware Statutory Trusts (DSTs), among other tax deferred investment strategies, allow you to defer taxes while continuing to earn income—with no active management or liability beyond your initial investment, and flexibility to exchange again at the sale of the DST into another DST or go back to active rental properties.

Building the Team: Best Practices for Long-Term Success

Relationships are the foundation of any great real estate business. Here are a few principles we’ve found to be universally effective in maintaining great relationships (and which really apply in most business relationships!):

• Be reasonable, respectful, and professional
• Pay on time—or early, if you can
• Honor your commitments
• Show appreciation and gratitude
• Don’t micromanage or nickel-and-dime vendors over small issues
• Stay in touch and send referrals when it makes sense

The bottom line? Treat your team as the most valuable part of your business, which they are.

Final Thoughts

Whether you're just starting out or scaling up, remember: You’re not in this alone. Real estate is a people business, and success often comes down to the strength of your team. So invest in those relationships just as much as you invest in your properties.