As a real estate investor, it is crucial that you work with the right realtor. It is important that your realtor has an investment mindset. Don't just use your friend that just got his/her license. You need an experienced realtor that works with investors and is an investor him/herself.
When I first started, I talked with dozens of realtors. I would tell them I was looking for a house to invest in and they would ask how many bedrooms I wanted, how many square feet, etc. They didn't understand that I could care less about those things. I would ask them questions like "What kind of cash-on-cash return I could expect?". Often their eyes would glaze over.
I found some realtors that had rental properties, but did not have an investor mindset. You need to know what the return on your investment is before you buy. You want a realtor that will not only help you find a house, but also find your first tenant. You want them to be able to give you an idea of the rent you can expect and back it up with a renter.
When you find a good realtor, treat them right. You want them part of your team.
Typically they do not make as much per transaction when working with an investor because the price of the home is not as high. They are willing to work with you because they hope to have your repeat business. Give it to them. And never use up their time looking for houses and then go off and buy with someone else. And never go into new builds without your realtor. If they know they can count on you, you will generally be able to count on them for the best deal possible.
If you need a reference for a good realtor in you area - or in other areas - leave your contact information. We do not sell or give contact information to anyone.
When I first started, I talked with dozens of realtors. I would tell them I was looking for a house to invest in and they would ask how many bedrooms I wanted, how many square feet, etc. They didn't understand that I could care less about those things. I would ask them questions like "What kind of cash-on-cash return I could expect?". Often their eyes would glaze over.
I found some realtors that had rental properties, but did not have an investor mindset. You need to know what the return on your investment is before you buy. You want a realtor that will not only help you find a house, but also find your first tenant. You want them to be able to give you an idea of the rent you can expect and back it up with a renter.
When you find a good realtor, treat them right. You want them part of your team.
Typically they do not make as much per transaction when working with an investor because the price of the home is not as high. They are willing to work with you because they hope to have your repeat business. Give it to them. And never use up their time looking for houses and then go off and buy with someone else. And never go into new builds without your realtor. If they know they can count on you, you will generally be able to count on them for the best deal possible.
If you need a reference for a good realtor in you area - or in other areas - leave your contact information. We do not sell or give contact information to anyone.
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