New to realestate looking to invest

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New to realestate looking to invest

Charles Bruce
Rental Property Investor · Bridgeport, CT · Member since 2018 · 49 posts · 20 votes

Is going threw an real estate agent the best way to purchase your first home ?

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  • Maureen McCann
    Specialist · Birmingham, AL · Member since 2014 · 81 posts · 68 votes
    7y

    Hi @Charles Bruce, welcome to BiggerPockets!! That all depends on the way you're looking to invest. Do you have an idea of how you would like to invest (BRRR, turnkey, etc.)?

    0Reply
  • Charles Bruce
    OP
    Rental Property Investor · Bridgeport, CT · Member since 2018 · 49 posts · 20 votes
    7y

    @Maureen McCann i was looking to get a multi family , i just began talking to an agent and yes my goal is BRRR

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  • Maureen McCann
    Specialist · Birmingham, AL · Member since 2014 · 81 posts · 68 votes
    7y
    Originally posted by @Charles Bruce:

    @Maureen McCann i was looking to get a multi family , i just began talking to an agent and yes my goal is BRRR

    That's great! It looks like your on the right track!!

    0Reply
  • Charles Bruce
    OP
    Rental Property Investor · Bridgeport, CT · Member since 2018 · 49 posts · 20 votes
    7y

    @Maureen McCann thank you , and it’s nice to meet you , thank you for reaching out ,

    So real estate agent is the best way to go ?? And how do you find a good one ?if you don’t mind me asking ,

    0Reply
  • Jonathan BombaciBusiness Member
    Real Estate Agent · Lowell, MA · Member since 2019 · 1k+ posts · 1k+ votes
    7y

    Hi Charles, Full discloseure - As a real estate agent I may have a bias 

    That being said I would say YES absolutely you should use a real estate agent to purchase your first home. Having a great real estate agent on your team is invaluable especially when starting out. They're in houses every day and great agents are doing 20+ transactions per year. You should leverage their experience and expertise to ensure that you're not missing anything and use their relationships to build your team. You're the one buying the house and the ownership of the analysis falls entirely on you, but a good agent will help fill in the gaps for you and provide assurance or course correct you if you start going down the wrong path. 

    A great agent will be able to help you negotiate a deal, provide you with referrals to great partnerships for your lender, inspector, and attorney and they'll prevent you from making costly mistakes. They'll fight for you to get you a fair deal and will more than pay for themselves throughout the transaction. 

    In addition Most of the time, depending on what you're looking to do, the commission for your buyers agent is already built into the pricing of the home on MLS. If you don't use and agent the listing agent will take both sides of the commission, so in many circumstances the price is the same whether you use an agent or not and the benefits of having your own agent in the fight can be huge.

    That being said not all agents are created equal and even the best agents in your area may not be the Best fit for what you're looking to do. Interview at least 3 agents ask lots of questions and make sure you get an agent that will act in your best interest and isn't only thinking about the commission. 

    At the end of the day even if you had to pay your agent out of pocket and it wasn't priced into the price of the home they have the potential to save you Tens of Thousands of Dollars and prevent you from making a mistake on what is arguable the largest financial transaction of your life. I don't recommend practicing law with out a degree, and I don't recommend jumping into real estate without an agent on your team. 

    Check out this podcast if you haven't already. I think they talk about using an agent and much more. I hope you find it helpful. 

    https://www.biggerpockets.com/blog/biggerpockets-money-podcast-83-scott-mindy


    Best of luck and welcome to the exciting world of real estate!



    https://www.biggerpockets.com/blog/biggerpockets-money-podcast-83-scott-mindy


    [email protected]978-710-8611
    Candor Realty4.760 Reviews
    WebsiteView Page
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  • Charles Bruce
    OP
    Rental Property Investor · Bridgeport, CT · Member since 2018 · 49 posts · 20 votes
    7y

    @Jonathan Bombaci thank you that was very helpful I’m definitely going to look for an good agent to begin with , i appreciate that

    0Reply
  • John Warren
    Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
    7y

    @Charles Bruce I think you should definitely find a realtor when you are starting out, and you especially want to find one who understands investment property. I work with first time buyers all the time in the 1-4 unit space, and the best part is that they don't have to pay me... the seller does! Try your local meetups and network locally a lot as this is a local business. 

    0Reply
  • Mya Toohey
    Real Estate Agent · Tampa Florida · Member since 2013 · 630 posts · 303 votes
    7y

    If you are looking to invest in the Tampa Bay Area, I can help you out!  Our market is HOT right now.  

    0Reply
  • Charles Bruce
    OP
    Rental Property Investor · Bridgeport, CT · Member since 2018 · 49 posts · 20 votes
    7y

    @John Warren thank you John

    0Reply
  • Charles Bruce
    OP
    Rental Property Investor · Bridgeport, CT · Member since 2018 · 49 posts · 20 votes
    7y

    @Mya Toohey i have family members investing in Florida now , I’m just waiting to learn my area first then I’m expanding as soon as possible

    0Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    7y
    Originally posted by @Charles Bruce:

    Is going threw an real estate agent the best way to purchase your first home ?

     Yes absolutely. 1st time is not the time to get creative.

    0Reply
  • Mya Toohey
    Real Estate Agent · Tampa Florida · Member since 2013 · 630 posts · 303 votes
    7y

    Awesome!  If you have any questions...Please feel free to reach out... I have been through just about every headache possible in this business!!!!  Best of Luck!

    Mya

    0Reply
  • Charles Bruce
    OP
    Rental Property Investor · Bridgeport, CT · Member since 2018 · 49 posts · 20 votes
    7y

    @James Wise definitely going to go with an agent in the beginning thank you

    1Reply
  • Charles Bruce
    OP
    Rental Property Investor · Bridgeport, CT · Member since 2018 · 49 posts · 20 votes
    7y

    @Mya Toohey thank you , and i will be reaching out soon , because after i get this firs deal done , i want to learn more about air bnbs, especially in the Florida area

    0Reply
  • Mya Toohey
    Real Estate Agent · Tampa Florida · Member since 2013 · 630 posts · 303 votes
    7y

    Sounds Good!  I look forward to helping you in the future!

    Mya

    0Reply
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