Good day! So I recently signed up a few weeks back and have just been learning as much as I can (I read the Ultimate Beginners Guide and all of the free how-to guides and am thinking on getting one of the books soon). So, moving forward I want to flip a few houses then do a buy and hold for a steady passive income and repeat the process until I can retire in a few years. As I am new to this I know that I could scout HAR, Tulia, Zillow, etc. to try and find what I think might be a good deal, but I would feel more comfortable having a real estate agent there to help find and let me know what the good deals are. Now, my question, how can I be sure the real estate agent I find is good or are willing to work with a new investor? Are there certain things I should look for or certain questions I need to ask? Thanks!
To find a good investor friendly agent is hard to find but here are some things to look for.
1. Make sure the agent also invests in real estate in a manner how you intend to invest. Meaning if you want to flip houses, find one that also flips houses.
2. They should have connections already with lenders, contractors, and title companies. If they don't, then they probably haven't successfully invested in real estate or at least not well enough to maintain those relationships.
3. Make sure to call the agent. They should be calling you back the same day or the morning after. If they aren't, you should consider looking elsewhere.
4. Find an agent who will guide you through the process and help you find a good deal, not just any property. If you're flipping the property, you should expect to use them on the buying side and on the listing side. The agent should be able to guide you in the ARV (guide with possibly an ARV range and not an actual flat number, that is your decision to make). The agent should be able to sell your property for something close to their guided ARV.
Please know that it may take a while to find a good agent like this, but they do exist as this is exactly how I run my business as an agent.
Thanks for the advise!
Bigger Pockets is a great place to start.
The majority of agents on this site are investors themselves or at the very least interested in working with investors.
@Seth Dillon , welcome to BP and the wide world of investing!
@Colin Smith makes some great points. They should be actively investing themselves, and know what a good deal is. I went through several agents who were clueless. Beyond that, they should have the qualities you look for in any professional, communicative, punctual, professional, knowledgeable, all that good stuff.
@James Wise is correct! Most on here are actively investing themselves, and at the bare minimum have a good understanding of what makes a good investment.
It sounds like you've already got a great start here on the site, here are a few more tips for you to get the most out of BP:
Start here. You'll get a wealth of REI knowledge and learn how to take full advantage of Bigger Pockets (including how to connect with other Conroe area investors).
I wish you all the best Seth! I'm an active investor & agent, so feel free to reach out anytime I can be of assistance to you.
@Seth Dillon I am a real estate investor in the Conroe area. If you like, you may send me a PM and I will refer you to my real estate agent and property manager.
Hey @Seth Dillon
I can send you the info for the agent I use. He is awesome!!! We just put in an offer on a 35k investment property in the Conroe area last Friday and the bank is reviewing all offers today. He has been very instrumental in helping me to acquire my first properties as I am a fairly new investor as well!!!
Just sent you a PM
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!