Who to have on your power team

Power Team

Now when building your property empire, no matter how large or small your going to have the best time by having the best people around you.

In this blog we’ll focus on the main people you should have in your circle when you’re going into property investing, as well as some other people you may want to be aware of as you go forward.

Mortgage/Commercial Broker

Now unless you have a very large lump sum available, you will probably require a mortgage to buy your BTL (Buy-To-Let) property.

(Even so you may also want to go down the mortgage route to leverage your money better)

When doing it yourself, you could spend days researching the best available rates. Applying being rejected and then moving to a whole host of other banks with the same process to try to prove you are worthy of receiving a BTL mortgage to start or continue your property journey.

Where a mortgage broker comes in is that they can package up your situation to be viewed the best by the lender with your personal circumstances and details. They can compile this so that you have the best chance to receive finance at the best rate, whilst also having the experience (assuming you ensure to work with a reputable broker) to know an estimate of the rates that are going to be available to you, as well as the likelihood on you receiving finance from lenders.

This can both save you time and money.

You could search for a lender but instead your broker will find them able to present your case the best so to have the best chance to receive finance, and probably at better rates than you could find yourself. Saving you money in the long term.

Property Accountant

There are so many interesting aspects of finances to do with property investing, the initial budgeting of costs, the calculations to judge if a property is going to provide a worthwhile return or fits your model and of course the cashflow & tax aspects.

Now you should ensure to work not only with an accountant but with a specialist in property especially if you are purchasing through a limited company.

Your accountant will be there to make sure your numbers are correct, that your being compliant for instance. Such as when setting up a limited company to use the right SIC code, as well as providing you insight into benefits that you may not normally be aware of. E.g. the tax benefits of using a limited company as opposed to in your sole name, how you receive money out of the business, what rate of tax you will have to pay.

Finances may not be as interesting for many people but making sure they are done correct is essential, especially if you intend to continue building up your portfolio.


Now as an accountant is to your finances, a solicitor is to the legalities involved in property.

A solicitor is there to make sure everything goes right, that everything is written up correctly and that the process is binding.

Again, I would recommend finding a solicitor that specialises or who has experience in this area.

I like to think of the solicitor as a planner to avoid bad situations arising in the future, as well as the stamp of confirmation at the end.

The legal areas are to make sure that everything goes through correctly, that there are no issues later down the line with either the buyer or the seller (or other type of transaction e.g. options), and that once processed the situation is final the property is bought, and you are the owner with no other tie-ins, loopholes or nagging issues.

Letting Agent

Now a letting agent is someone who will take over management of your BTL property for a percentage of the rent, normally.

Now you may question, why would I pay someone else to manage my house…?

This is all about the value of your time, if you only wish to have a couple of BTLs then you may be better not having a letting agent and keeping the fee you would otherwise pay.

On the other hand, if you are looking to build up your portfolio quite sizably then there is a limit to your time, and so there is a limit to the amount of properties you can manage yourself.

As well as if your using property as a vehicle to generate passive income, then having your time taking up by managing tenants, turning up at 3am to open the door for someone locked out or heading down to fix the electrics, you won’t have freed up you time. You’ll have given yourself another job.

There is also something called opportunity cost to consider, this is where you look at what you potentially may be missing out on when spending your time on one thing where it could be used better in a different area.

For example, managing the property yourself reduces the expenses from not having to pay a management fee, but it may take up a considerable amount of time that you could otherwise be using to find your next deal. If that deal could be making more money than you currently receive from not paying the management fee, that is the opportunity cost you are missing out on.


Now this one could be focused more so on HMOs or developments, whereby you want someone to organise tradesman to complete a refurbishment or renovation,

You could use several different tradesmen and organise them yourself, and if you are able to do that successfully that is amazing.

For me, the ability to go to one person to find out the progress, to have someone else managing the process of organising the various workers with times, dates and the experience to be able to do this in a timely and successful way. Having that benefit again of reducing the amount of your time spent and lowering the likelihood for errors.

This doesn’t mean that you can hand it over and check back in at the end of 6 months expecting it to be perfect, you should always be keeping track on the work going on, the potential delays, what’s the progress and anything that needs changing/altering or planning for.

Now there may be many more people surrounding you in your journey some of which you may interact with so much you consider them part of your power team, or those you need every now and then. Some examples include,

  • Estate Agents

  • Architect

  • Planning Consultant

  • Insurance Broker

  • License Officer

  • Various tradesmen

  • Investor

  • and more...

In summary, there are going to be many areas of support needed in the property journey, and the best way to ensure you have the most productive, lucrative and enjoyable time is to have the best people around you.

Above is a is a list of the main contacts you will deal with, and ensuring you have the right people around you there will be no stopping you from achieving what you want from property.

Thanks for reading 😊

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