Realtor or no realtor??

Question

Searching for my first fix and flip, should I have a help from a realtor or search myself?

Lynn Weber · Answer

I'm a Realtor and an investor.  I use the MLS, but I also have a bunch of wholesale lists coming in.  Might as well take advantage of as many ways as possible.  I don't mind running comps if you need them.

Michael Hayworth · Answer

The DFW market is very hot. It's hard to find deals on MLS, but there are a few out there.

There's a Fort Worth area Biggerpockets group that may be of help.

I've found my best deals through private sales, but it takes a while to get established in that. Before that, I found good deals through a couple of wholesalers, or through buying at the Trustee Auction on the courthouse steps. Both those have their downsides, too - there are some fairly shady wholesalers in this area (and some good ones, too), and the trustee auction can be something of a crapshoot.

The best thing is to consider all possible avenues, so get a realtor to set up daily email updates for you, and also get on wholesalers' mailing lists, go to the trustee auction (go as an observer the first couple of times and figure out what it's about).

Hope this helps. If you want to PM me, I can recommend a couple of good, investor-friendly realtors for that side of things.

Pam Cleary · Answer

In the Fort Worth/Dallas market' I would say it is hard to find a good realtor to work with especially if they are investors.   It is hard to find properties right now in the market.  Most realtors are having problems finding listings.  I am a broker; I know.   Houses done right; are on the market for less than 2 days in the hot market area.    Like Michael Hayworth mentioned; in a hot market find try to find a deal on your own but partner with someone with experience to do the deal with you.

Michael Noto · Answer

I would highly recommend using a realtor as a fix and flipper on any level if you do not have your real estate license.  They have access to information on your local MLS that will help you greatly when deciding which properties to pursue and most importantly can keep you from making a mistake.

Try and find a realtor that deals with investors.  They are out there.

Shane Woods · Answer

I think a Realtor is great part of your team.  That way, you have another lead generation pipeline.  I wouldn't recommend "just" a Realtor, or just wholesale, or just anything.  Most successful investors I know have wholesalers and Realtors they work with regularly.

Jake Thomas · Answer

Use a Realtor if you have never purchased a house before. If I was a betting man I would bet on the fact you may be able to find someone to help you right on this forum. Just put a post looking for some help and name all the cities you want to look in and the keywords will work their magic.

Be prepared to show proof of funds or ability to purchase. An experienced Realtor will want to see that.

Good luck

Franklin Romine · Answer

@Jessica Rangel The word Realtor is like saying lets go eat lunch.  There is usually not a short supply of realtors.  Most realtors start foaming at the mouth with excited to help you get into a property.  Ask around and find a realtor that knows what they are doing....  do a background check if you have too.  A bad realtor will cost you $$$$$$.

Franklin

James Wise · Answer

I'm biased because I am a Realtor but Yes you should.

It's your 1st deal some an experienced individual would be a big benefit.

Also they are free or next to free!

Ryan Dossey · Answer

I would look for an investment minded Realtor. As others have stated be cautious. I have seen dozens of "My Realtor sold me a crappy flip" threads.

AJ Minaker · Answer

Yes definitely use a realtor! Don't be afraid to interview realtors and work to find the best fit for what you are looking for.

Realtor or no realtor??

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