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Author Topic: Tell me if this sounds good.  (Read 4535 times)

Offline mcrump

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Tell me if this sounds good.
« on: May 11, 2004, 02:21:10 pm »
I am just begining my career in real estate.  I am very excited but like getting things done right the first time so I wanted to bounce some things off you and get some feed back.  This is my strategy thus far:  I focus on foreclosures, generally after the auction and they have gone back to the lender or VA, ect.  I don't usually consider them unless they can be bought for at least 20 - 30 k below market. (based on comps. and tax value)  Then I would go in and do an estimated repair list, including figures and where I'm getting pricing and the like.  Follow that up with estimated holding costs, i.e. payments that would need to be made for repairs and resale time.  Once all that is evaluated and I determine it is a good deal, I would start looking for the right investor.  I have a realtor who I have a very good relationship with that the investor would be best using.  My realtor just makes things run so smoothly and has been in the business forever so I would be very hard pressed not to use him.  So the investor likes the property, buys it, does repairs, and is ready to put it up for resale.  At that point I would like to have the investor use my same realtor to relist the property, provided the investor approved of how everything ran with the purchase.  Does this sound like a good idea that could work?  Do investors have realtors that they regularly use?  Any feed back would be greatly appreciated.

Thanks,
Mike

Offline tedjr

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Re:Tell me if this sounds good.
« Reply #1 on: May 13, 2004, 07:33:09 am »
Howdy Mike:

Realtors that are good and can make you money are great. With volume and repeat business you should get a discount fee. Every investor is different and especially with using their own Realtor if any. Some are even Realtors theirselves, there are just too many variables. I am sure your Realtor would love the idea and your confidence in them.

As a bit of a wierd thing and Realtors, in the late 80's I bought over 30 properties and most from different listing agents. I split the fees with them as I had a license at the time. All of them sais they enjoyed working with me and would call again when they got another listing or knew of a good deal. I was paying retail almost just buying to rent and hold, Not one single call.

Good luck and thank you,
Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas  78737
512-301-9171 home
512-587-6177 mobile

Ted P. Stokely Jr

San Antonio, Texas

Offline Heather_Tx

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Re:Tell me if this sounds good.
« Reply #2 on: May 21, 2004, 01:16:51 am »
Mike,

  Most investors that are very much into the business already have a realtor that they work with.  I have one that I work with, and I've only been into this for about a year and a half..... but my realtor lists my properties for free, and makes 3% IF he is the one that finds me a buyer.   In return, those that call my advertising and are just not anything an investor would look at, I send them to my realtor.    


  You might have a hard time  moving properties if you insist that the investor use your realtor to resell.   I can sell FSBO,  or MLS  and it not cost me anything extra unless he brings me a buyer.....  it's hard to beat that =)

This is just my insight... others may very, but every successful investor that I have met (And strive to be like! LOL) works with their own realtors.

Heather Zaal

 




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