I have a friend who is a real estate agent and he said he would help find investments for me
What are your guys thoughts on this
I haven’t been able to find anything on my own yet
Matt
Matt,
Perhaps your friend the Realtor™ will do welll for you.
I’ve had much less luck with agents than I’ve had knocking on doors myself. If your friend understands what you’re after, he should be able to do well for you and himself. Perhaps if you explain fully that you want a house at below-market value and explain what you are willing to do to make it worth market value, he can find you a good deal.
Where are you trying to buy, what are you looking for, and what $$$ do you have to work with ?
Good luck,
Ray
Matt:
I’m a RE/MAX agent and I work with investors doing lead generation. It works quite well for both of us. I know what they’re looking for and I find it and get it out to them quickly. The market here in Maryland is fast right now so time is of the essence so they say. I came from a corporate environment, so I like working with business people. Analyzing cash flow and figuring out if it is a good deal is interesting. Find an agent who likes to do this and who likes to move fast.
Yes, an agent can be a good way to find deals if they network with investors. Not all deal with below market properties, so ask. If they don’t already have investor contacts, move on.
It’s interesting to read your thoughts on dealling with agents because I’m a RE/MAX agent who deals almost exclusively with investors. I love my investors because they are business people who know how to move quickly, intelligently and aren’t concerned about the draperies not matching the bedspread! I’m always looking for more investors to work with so if you’re in Maryland, give me a shout. I am active in our local Investors Association and send out multiple pages of new non-MLS opportunities to my investors monthly. My advice is, find an agent who is investor saavy and put them on your team. They can take a load off your workload. But make sure they aren’t stuck in that traditional real estate mindset. If they are (and believe me, you’ll know) move on until you find a friend.
DBS,
What type of system do you use? Do you find properties your investors contract, then assign? Do they rehab and sell conventionally? WHat’s your “niche”
Z
If you’ve never done a deal, and haven’t had any luck finding any on your own, then hiring an RE agent is a good idea. A good agent will help find a deal, and help you through the process of making an offer and closing the sell.
Just to be clear, though. An agent is NOT a birddog.
Raj
ZNICK: You asked “What system do I use?” Not quite sure what you “system” you mean? So please clarify that a little. If you mean what analysis system I use - I use a online calc system that allows me to analyze the cash flow of a deal and provide my client with proof of a “good deal - bad deal” I also use information from multiple list to support fair market value numbers. I provide my investor/clients with spreadsheets of available properties. If they like any of them, then I analyze them with this calc and give the information back to the client. I write the contract and submit the offer for my clients.
If they want to sell their properties retail, I multiple list them. I can actually wholesale through multiple list as well. Just tell me what you want to walk away with, I add my commission to the asking price, multiple list it, put the sign on the property, show the property and present all offers to the client.
All of my clients give me exclusive right to represent them.
Hope this clarifies everything for you. As for agents “Not being bird dogs” - that isn’t necessarily true. Agents can bird dog for clients. They just offer much more to a client than just bird dogging activities.
DBS,
I like the way you work. I am investor in Columbus, OH and wonder if I can find someone like you here.
BTW, what is the average amount of the property you find for your investors and how much do they walk away with in how much period of time
Sunny