How to find Investor Friendly real estate agents

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How to find Investor Friendly real estate agents

Jay Styles
Investor · Los Angeles · Member since 2020 · 34 posts · 8 votes

Hello Everyone!

My name is Jay and just like many of you in here, I'm just scratching the surface. After educating myself and reading three real estate books, I've decided to move myself from the reading and take the proper action steps to get the ball rolling.  One of my first action steps for this week was to find some investor friendly real estate agents in the Los Angeles area and found this great community of like minded individuals. 

So my question to the new investors, how did you go about finding your investor friendly real estate agents? And a question for my real estate agents, what do you look for in working with an investor? 

Sorry for all the questions and those soon to come.

Thank you all for reading and or responding and God Bless you all!!

Jay

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Michael Berger
Los Angeles · Member since 2020 · 9 posts · 5 votes
5y

Hi Jay,

I just saw your post! Looks like you received some great answers and information to all your questions. Let me know If you need help with anything Real Estate Related in LA. I am somewhat new to bigger pockets and the investor side of things but we are gearing up for 2021 and will aggressively focus on finding good deals for clients and ourself's. My Brokerage is in Beverly Hills but my current focus is near Santa Clarita (where we live/great schools) and the San Fernando Valley. I also help investors and builders find off market listings in the high end sector, say in Malibu or Brentwood. Me and my wife have sold and bought various homes for our own use and made profit this way. More recently we rehabbed a Town home that we eventually will rent out.

All the best.

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  • Julio Garcia
    Rental Property Investor · Modesto/Stockton/Merced, CA · Member since 2020 · 456 posts · 214 votes
    5y

    The way I found my realtor is by interviewing  a few. If they have investment themselves ask them to show them to you, run the numbers, etc. I also asked for a reference of another investor they've worked with.

    My realtor is amazing bc we speak the same language and she understands my goal. 

    1Reply
  • Mark Johnson
    Lender · Saint Louis, MO · Member since 2017 · 63 posts · 38 votes
    5y

    I agree with everything @Julio Garcia said above.  

    I am not sure what type of investments you are looking to do but ask them to help you analze a deal. I think it would become evident very quicly if they know what they're talking about. 

    As an agent I can tell you that what other agents want from their investors are clear buying criteria and being ready to actually buy the property. Most agents dislike working with investors because they're always being approached by want to be investors who will never actaully buy a property.  

    1Reply
  • Jay Styles
    OP
    Investor · Los Angeles · Member since 2020 · 34 posts · 8 votes
    5y

    @juliogarcia @markjohnson Thanks for the feedback guys. Sorry for the late reply back, I thought BP would send a notification to my email. 

    Anyways, I found 9 realtors in Los Angeles and I'll start the interviewing process tomorrow with the first agent on my list. 

    0Reply
  • Jonathan StyerBusiness Member
    Real Estate Broker · Columbus, OH · Member since 2018 · 330 posts · 396 votes
    5y

    Hi Jay, 

    Great news that you were able to find some folks that might work out for you. I just wanted to chime in that a good way to find Realtors that work a lot with investors is through Property Management. I'm not sure about California but in many states Property Managers will be required to have a license. If this is the case they may understand the market better than most. 

    Best of luck!

    Styer Real Estate Professionals4.941 Reviews
    WebsiteView Page
    0Reply
  • Marc Desrosiers
    Flipper/Rehabber · RI · Member since 2020 · 70 posts · 61 votes
    5y

    @Jay Styles

    It depends on what type of investment and/or your own ability to find houses.

    I’m a licensed agent but not associated with any brokerage. I like the knowledge I got but I’d rather have someone else sell it. I’m not a sales person type.

    With that said I’ve been contacting listing agents directly. Little extra motivation for them since they aren’t splitting the commission with a buyers agent.

    When selling a house I like agents that can sell ice to an Eskimo or a ketchup popsicle to a woman wearing white gloves.

    0Reply
  • Jay Styles
    OP
    Investor · Los Angeles · Member since 2020 · 34 posts · 8 votes
    5y

    @Jonathan Styer Thanks for providing that nugget of information. I'll look into this further. I appreciate your help.

    0Reply
  • Jay Styles
    OP
    Investor · Los Angeles · Member since 2020 · 34 posts · 8 votes
    5y

    @Marc Desrosiers Hi Marc, thanks for responding. I'm looking at starting with single family homes for positive cash flow.  Thanks for providing me with your strategy. 

    0Reply
  • Michael Berger
    Los Angeles · Member since 2020 · 9 posts · 5 votes
    5y

    Hi Jay,

    I just saw your post! Looks like you received some great answers and information to all your questions. Let me know If you need help with anything Real Estate Related in LA. I am somewhat new to bigger pockets and the investor side of things but we are gearing up for 2021 and will aggressively focus on finding good deals for clients and ourself's. My Brokerage is in Beverly Hills but my current focus is near Santa Clarita (where we live/great schools) and the San Fernando Valley. I also help investors and builders find off market listings in the high end sector, say in Malibu or Brentwood. Me and my wife have sold and bought various homes for our own use and made profit this way. More recently we rehabbed a Town home that we eventually will rent out.

    All the best.

    2Reply
  • Jonathan Taylor
    Lender · Los Angeles, CA · Member since 2017 · 916 posts · 647 votes
    5y

    @Jay Styles first question is to ask the agent what investment properties they own and where. An Investor friendly agent would need to be one to know how to cater to one. 

    1Reply
  • Kyle Wells
    Realtor · Lake Stevens, WA · Member since 2018 · 122 posts · 91 votes
    5y

    Hey Jay, I am an investor who turned realtor. I think the #1 thing is that they invest in real estate themselves. It's difficult to be investor-friendly if you don't even invest yourself. Ask them how questions that you would expect an investor-friendly realtor to know (what are current market cap rates in a specific area, how do you estimate rents, etc.). I help my clients in analyzing deals, so it's important that they understand terms like ROI, cap rates, cash on cash return, etc.

    1Reply
  • Jay Styles
    OP
    Investor · Los Angeles · Member since 2020 · 34 posts · 8 votes
    5y

    @Kyle Wells Hey Kyle, thanks for the information. I just read an article today that mentioned asking realtors about cap rates, cash return, ROI.

    1Reply
  • Jay Styles
    OP
    Investor · Los Angeles · Member since 2020 · 34 posts · 8 votes
    5y

    @Jonathan Taylor Hey Jonathan, thanks for the tip. I have that at number one on my list.

    0Reply
  • Jay Styles
    OP
    Investor · Los Angeles · Member since 2020 · 34 posts · 8 votes
    5y

    @Michael Berger Hey Michael, thanks for dropping in on this forum. It's always a pleasure meeting other real estate investors in Los Angeles. I'm new to BP as well as new to the investor side of real estate. I just interviewed an agent and ask him if he has access to off market listings, so I'll definitely put you on my contact list.

    0Reply
  • Michael Berger
    Los Angeles · Member since 2020 · 9 posts · 5 votes
    5y

    Hi Jay,

    @Jay Styles, thats fantastic! Let me know how it all goes for you and I am happy to meet someday for lunch if you like.Thanks for adding me to your contact list.

    MB

    0Reply
  • Jay Styles
    OP
    Investor · Los Angeles · Member since 2020 · 34 posts · 8 votes
    5y

    @Michael Berger Sounds good, and no...thank you! Talk to you soon!

    0Reply
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