New Investor Hiccups

3 Replies

As a new investor, what if sellers or buyers ask questions like what houses have you bought in the area?

Originally posted by @Edward Mitchell :

As a new investor, what if sellers or buyers ask questions like what houses have you bought in the area?

Hi Edward, as a relatively new property investor myself, if I were to ask this question to you, your response would definitely provide me insight to your capabilities.

I think you would have to show an intimate knowledge of the area, bring research reports, data that you've collected. Resources are crucial, if you are knowledgeable about a given area, show your strength in data collection.  Books that you've read, and that you're supported by other experienced investors. 

There is plenty of people out there that have lots of experience, but lack success, so to me its not the end-all be-all. Experience combined with knowledge and success has to have a beginning, so being knowledgeable and well researched will put you on the right path. 

Ideally it would be best to start with an investor-friendly Real Estate agent.  I would start talking to local brokers and getting their recommendations.  Also the listing agents for rentals may be another source(especially if they were the buyer's agent on the purchase).

If an agent has helped successful investors buy dozens of homes, it should matter that this is your investment purchase. To get the great deals you probably have to look beyond the MLS, but many markets have good deals in the MLS.

Also partnering with a more experienced investor may be another option to get past concerns about your inexperience.

i would just answer question honestly 

this will get you farther in this biz than being dishonest 

there are lots of investors in our area that are not honest 

we will not work with them in any way

good luck to you

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