Pros/cons working with agent out of state
Hi all, newbie here. Looking to buy rental property in the midwest (first rental out of state). Wondering what the pros and cons to working with the seller's agent vs a different one who is either recommended by BP or a friend that lives in the state I'd like to purchase in? Is the seller's agent going to try to hide the potential issues just to sell the property?
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Hello Dave, based on my experience working with several out-of-state investors (helping them purchase and renovate in KCMO and then providing them PM services), it's crucial to find an agent who is also an investor and fully understands your goals. The ideal agent should be knowledgeable about property management costs and renovation expenses and have a reliable list of contractors to assist you. They should also have a solid understanding of entity structure and local municipal codes. Additionally, the agent should be able to provide detailed information about the specific zip codes you're interested in. Unfortunately, not all agents possess this level of expertise. I hope that helps. If you have any questions, DM me. Happy to assist however I can.