New Investor Trying To Find A Team I Can Trust

Bayonne, NJ · Member since 2015 · 52 posts · 6 votes

I'm new to the community and am seeking recommendations on diligent, trustworthy, and hard-working brokers, rehabbers and wholesalers that are also investors themselves in cash flow markets like Kansas City Missouri, Trenton New Jersey (NJ), Philly Pennsylvania, Pittsburg PA, Jackson Mississippi (MS) and Michigan. I am looking at SFR and small multis. Does anyone have recommendations about how to find those types of people (i.e. how to know they are worthy of trust) or recommendations for people I should contact? I've been proactively reaching out to people who portray themselves as such on-line but really do not know how to insure they are trustworthy. If anyone has found these types of people or knows a good process to do so, it would be very helpful.

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Mike D'ArrigoPro Member

Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes

11y

Originally posted by @Matt Whitermore:

why do you need them to be investors too?

It makes a huge difference. A real estate broker that is also an investor understands what makes a good investment and can work with a like minded investor more easily. The agent that only sells dream houses to Ken and Barbie don't get how investors think and quickly get frustrated. Contractors who have investment experience know what rehab standards should be and will know the difference between a rent ready rehab and a retail rehab. It's just a lot easier to work with people who understand investment.

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Matt Whitermore
Lender · Syracuse, NY · Member since 2014 · 108 posts · 35 votes
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why do you need them to be investors too?
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Matt Kvalheim
Accountant · Tustin, CA · Member since 2013 · 65 posts · 10 votes
11y
I live in CA and invest in KC, MO. I really like what William Robison is doing in that market and it fits my needs perfectly. You can PM me with any questions you have.
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Mike D'ArrigoPro Member
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
11y
Originally posted by @Matt Whitermore:

why do you need them to be investors too?
It makes a huge difference. A real estate broker that is also an investor understands what makes a good investment and can work with a like minded investor more easily. The agent that only sells dream houses to Ken and Barbie don't get how investors think and quickly get frustrated. Contractors who have investment experience know what rehab standards should be and will know the difference between a rent ready rehab and a retail rehab. It's just a lot easier to work with people who understand investment.
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Matt Whitermore
Lender · Syracuse, NY · Member since 2014 · 108 posts · 35 votes
11y
@Mike D'Arrigo I disagree. The best brokers spend their time brokering. If a broker is an investor he is going to keep the best deals for himself. There are plenty of investor friendly brokers out there who don't own any real estate. I don't think it is wise to limit who your contacts may become based on if they invest or not.
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Charles Worth
Investor · New York City, NY · Member since 2015 · 808 posts · 417 votes
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@Darren Sager
Knows NJ well
@Jay Hinrichs
I know invests heavily in Jacksonville and knows a lot about building ground teams which I assume is what you are referring to.
Like Matt, I think William is good for KC
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Charles Worth
Investor · New York City, NY · Member since 2015 · 808 posts · 417 votes
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@Matt Whitermore
Your point about the potential conflict of interest could be an issue although I think if you trust someone enough to rely on them to that extent you should trust they would at least partner with you on something like that. I do know a lot of investor agents that don't buy anymore because of what you talked about. However, most of them did do investing at one time or limit their practice almost solely to investors.
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Joel OwensBusiness Member
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Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
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Brokers might look at the best deals for themselves first but that doesn't mean they can buy them all or take down all deal sizes.
I have some clients with millions and some individuals with tens of millions. If I come across a great deal at say 3 million it is different than at 10 million. 10 million might be a great deal but doesn't mean I can pull it off alone myself without a syndicate etc. but I might have an investor that can own by themselves and would love that property.
I think it is smart for brokers to also be investors and not just transactions only. There are always properties to transact but the volume levels go up and down over the years and decades. Some of my older commercial broker friends have been in the business 30 to 40 years or longer. You create constant income off of investments so when sales go up or down you are not affected. Where brokers can get in trouble is live high on the hog when times are good and not save and plan for cycles in income.
Sales are great right now and I am investing into commercial assets for passive income. There is also a dual perspective from actually owning the property as an operator versus a transaction broker only. So I do believe a commercial broker that is also an investor is a value add to a client. I have been on the commercial development side as well.
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Mike D'ArrigoPro Member
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
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Originally posted by @Matt Whitermore:

@Mike D'Arrigo I disagree. The best brokers spend their time brokering. If a broker is an investor he is going to keep the best deals for himself. There are plenty of investor friendly brokers out there who don't own any real estate. I don't think it is wise to limit who your contacts may become based on if they invest or not.
Matt, I understand your point about keeping the best deals for themselves, especially in markets with thin inventory, but there are still markets with enough inventory that a broker can keep all of the good deals for themselves unless they have infinite capital. A broker that has a portfolio but is not looking to expand is the best of all worlds.
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Gary Freidman
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Bayonne, NJ · Member since 2015 · 52 posts · 6 votes
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@Matt Whitermore
I would talk to someone who is not an investor but I would need to know they would understand what is important to me and be able to deal with things that you deal with more with investor than home buyers like rehabs, tenant quality and the like. The best bet is a broker that is an investor or was.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
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@Charles Worth
thanks for the mention Jacksonville I do not know personally... but I know Jackson MS very well !
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Dayron Burgess
Brooklyn, NY · Member since 2015 · 20 posts · 2 votes
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Not in nyc
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Charles Worth
Investor · New York City, NY · Member since 2015 · 808 posts · 417 votes
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@Jay Hinrichs
opps my mistake I meant Jackson MS. I was doing too many things at once.
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Everett Marshall
Bude, MS · Member since 2014 · 144 posts · 9 votes
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@gary freidman I'm a wholesaler in the Jackson mississippi area. Let's team up.
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JaMarcus Joseph
Wholesaler/ Buy and Hold Investor · Sherwood, AR · Member since 2015 · 83 posts · 18 votes
11y
Originally posted by @Gary Freidman:
I'm new to the community and am seeking recommendations on diligent, trustworthy, and hard-working brokers, rehabbers and wholesalers that are also investors themselves in cash flow markets like Kansas City Missouri, Trenton New Jersey (NJ), Philly Pennsylvania, Pittsburg PA, Jackson Mississippi (MS) and Michigan. I am looking at SFR and small multis. Does anyone have recommendations about how to find those types of people (i.e. how to know they are worthy of trust) or recommendations for people I should contact? I've been proactively reaching out to people who portray themselves as such on-line but really do not know how to insure they are trustworthy. If anyone has found these types of people or knows a good process to do so, it would be very helpful.
Research central Arkansas, particularly Conway and Little Rock. I've been researching the area for well over a year. Both cities are full of new construction on the interstate ans cities. The market for new homes is booming, which opens door for the lower classes to move up to the next level, even if they can't afford to buy. Conway has 3 major colleges and Little Rock has several colleges along with the state's only medical school. The new growth is calling for revitalization in old areas. Little Rock has a solid plan to eradicate its gang problem. There is an impressive precinct where the heart of the activity once was. And Conway has a 10 year plan currently in action. (See http://www.conway2025.com).
The rents are high for acquisition and rehab costs. Arkansas laws heavily favored landlords but are currently under revision. Under the old law, a landlord could criminally evict a tenant on day 10 for squatting. While legal, such a law flirts with the morality and helping others. Anyways, one could acquire and rehab a 2/1 SFR on a .17 acre lot for $20-60k with an ARV of $50-80k and rent out said property for $550 upwards to $750 pending location and rehab efforts. The market is depressed but on the rise. Unfortunately, even if the vast majority could buy a home, they're stuck in a small town mindset where their happy to rent a nice house versus an apartment. The idea of home ownership being obtainable for them is merely a dream. It's a sad reality. My coworkers would rather work overtime to buy a $2400 necklace and pendant than towards ownership. I work at a hospital and many of my coworkers are tenants who hold multiple jobs to support their material gain. I'm writing this while sitting overnight for overtime trying to get the down payment for my first seller finance move-in ready buy and hold. Anyways, I have a rehab team headed by a licensed general contractor who specializes in flooring and decks. I have two real estate agents on board and I should have my license before the summer. I don't have any referrals to a property management company here, but we have potential partners until our firm establishes its presence. If you're interested, let me know. I'm sure I could help you find solid investments. Happy investing.
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Dennis Pressey Jr
Specialist · Philadelphia, PA · Member since 2014 · 231 posts · 69 votes
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@Gary Freidman :)
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Raymond B.
FL · Member since 2009 · 2k+ posts · 357 votes
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@Everett Marshall,
To Make the @ work do the following:
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Raymond
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