[b]Hi I am new as well, I am Kathy and I would like to know how to talk to an agent, the one that I talked to today,he basically told me flippin business is not profitable at this time I have to wait until the prices go up, I told him I am going by 65% rule,so after reapirs and closing costs for now even 20k is fine, but he really discouraged me, I don’t know how to prequalify the agent, please help.
thank you in advance[/b]
Hi,
I do a lot of fix & flips every year in Las Vegas and Phoenix, I would not say I am making a fortune in each deal, but $20k after all cost's is practicle and reasonable in this market.
You need to continue to speak to real estate agents as your seeking one that is open minded, has no problem being creative provided it’s legal, know’s there’s more demand working with investors and is willing to work harder knowing we buy and sell more property than owner occupied buyers.
Most real estate agents have never been to a real estate investing seminar, and have no idea of what your saying when you refer to a “65% rule”!
Don’t get discouraged as these types of problems are not unique to just you or your experience.
GR
There is a video by Steph Davis (an experienced wholesaler) on Facebook, that talks about not sharing with the realtor that you are a wholesaler or anything like it, because they will discourage you. :banghead
They will also tell you unless you’re licensed, you can’t buy or sell real estate, esp/ when it comes to reo’s. As far as they’re concerned, you buy houses. I hope this helps you.