Soliciting 2nd opinions vs acting fast

8 Replies

I'm going to work with an investor friendly agent in a cash flow market. I am out of area. I was thinking about whether to take the agent's recommendation, run it through a police report website, check school ratings, biggerpockets neighborhood ratings, and take action. OR, solicit second opinions, wait a bit more for replies, and then buy.

I think it comes down to how fast agents expect you to move. Do you guys have any opinion on which deal verification method I should do before moving onto the next step (paying for an inspection)?

Before I could attempt to answer your question, given those are the only two options you are giving, I need to ask you two questions:

1 - What qualifies this agent as a REI friendly REA?

2 - What qualifies this property as a good deal to begin with?

Originally posted by @Joe Villeneuve :

Before I could attempt to answer your question, given those are the only two options you are giving, I need to ask you two questions:

1 - What qualifies this agent as a REI friendly REA?

2 - What qualifies this property as a good deal to begin with?

 Here are the answers:

1. Investor friendly agent is self declared by the agent. Sometimes they say "I am an investor too" which means they are qualified. 

2. The fact that he needs to make an offer so quickly implies multiple offers. Doesn't more demand always mean better deal? 

Originally posted by @Joe Splitrock :
Originally posted by @Joe Villeneuve:

Before I could attempt to answer your question, given those are the only two options you are giving, I need to ask you two questions:

1 - What qualifies this agent as a REI friendly REA?

2 - What qualifies this property as a good deal to begin with?

 Here are the answers:

1. Investor friendly agent is self declared by the agent. Sometimes they say "I am an investor too" which means they are qualified. 

2. The fact that he needs to make an offer so quickly implies multiple offers. Doesn't more demand always mean better deal? 

Every agent when asked if they are REI friendly will say they are. That doesn't qualify them.

Better deal for who?

Originally posted by @Joe Villeneuve :
Originally posted by @Joe Splitrock:
Originally posted by @Joe Villeneuve:

Before I could attempt to answer your question, given those are the only two options you are giving, I need to ask you two questions:

1 - What qualifies this agent as a REI friendly REA?

2 - What qualifies this property as a good deal to begin with?

 Here are the answers:

1. Investor friendly agent is self declared by the agent. Sometimes they say "I am an investor too" which means they are qualified. 

2. The fact that he needs to make an offer so quickly implies multiple offers. Doesn't more demand always mean better deal? 

Every agent when asked if they are REI friendly will say they are. That doesn't qualify them.

Better deal for who?

 It was meant to be sarcasm, sorry I thought you knew me well enough to pick up on it. Of course I agree with you.

Originally posted by @Joe Splitrock :
Originally posted by @Joe Villeneuve:
Originally posted by @Joe Splitrock:
Originally posted by @Joe Villeneuve:

Before I could attempt to answer your question, given those are the only two options you are giving, I need to ask you two questions:

1 - What qualifies this agent as a REI friendly REA?

2 - What qualifies this property as a good deal to begin with?

 Here are the answers:

1. Investor friendly agent is self declared by the agent. Sometimes they say "I am an investor too" which means they are qualified. 

2. The fact that he needs to make an offer so quickly implies multiple offers. Doesn't more demand always mean better deal? 

Every agent when asked if they are REI friendly will say they are. That doesn't qualify them.

Better deal for who?

 It was meant to be sarcasm, sorry I thought you knew me well enough to pick up on it. Of course I agree with you.

 LOL.  Ya, I thought it was.  I was just reinforcing the power of your words.  (Did I ever mention I graduated from collage and got a B.S. in BS?...and I use it extensively.)

I don't think there is an investor subspecialty but if the agent knows the area well, sends deals and is honest that qualifies for me!

I guess I will spend the extra time to get second opinions as I do my own vetting. Houses aren't cheap!