Investor Friendly Real Estate Agent in or around Baltimore MD
Hello all!
My name is Lashaw Salta and i'm new to the BP community! I live in Baltimore, MD in the Mount Vernon neighborhood. I love this place and would love to invest in it! I've been an active member of BP for a week now and i have been studying investing for the past month.
Would anyone be able to point me towards a real estate agent who is familiar with the city and real estate investors? I think this would be the best place to start.
Thank you all in advance!
Best,
Lashaw Salta
#4 New Member Introductions Contributor
- Real Estate Agent
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#4 New Member Introductions Contributor
- Real Estate Agent
- Falls Church
@Lashaw Salta I have written a blog post that may help you sort through the agents in your area. Click on the link give it a read, and let me know what you think in the comments :)
@Denise Uhrin who is a member here on BP but not that active here. She owns a number of rentals and teaches about Baltimore Land-lording.
I would suggest that you find your local Reia's and attend a few meetings. You will find your realtor there, meet like minded people, and learn a lot of valuable information.
The term "investor friendly" gets thrown around a lot. What exactly are you looking for? If you plan to use a property manager, you might also try talking with one to see where they recommend looking based on where they see rental demand and ability to place good tenants. But keep in mind, their time is valuable too, so if you are going to pick their brains, you should follow through and use them when you land your house. @Ned Carey maintains a blog that includes solid recs for property managers.
hi all thank you for the feedback! I guess investor friendly is a broad term as you all described. I'm looking for a realtor who has experience with rentals and flipping houses in Baltimore. The ideal realtor is one who is able to provide comparable houses, referrals for contractors property management and more, and one who really knows the Baltimore city and the surrounding area and can speak to the character of the neighborhood.
I have been to a few meetings and they're great! Great suggestion.
Thanks again everyone, I hope I can get started soon. I feel like I'm one step closer to getting my first investment.
Best,
Lashaw Salta
@Lashaw Salta, a word of caution is in order here. I have had too many experiences with agents who are getting a kickback for referring buyers to a particular (pick any and all of the following) contractor, title company, property manager, off-market property, inspector, mortgage broker, etc. When an agent is getting a kickback and not disclosing it to you, their interests are not aligned with your interests. You absolutely need to do your own due diligence for all of these services. As my grandfather said, and he has been quoted by so many, caveat emptor.
Originally posted by @Daniel O.:
@Lashaw Salta, a word of caution is in order here. I have had too many experiences with agents who are getting a kickback for referring buyers to a particular (pick any and all of the following) contractor, title company, property manager, off-market property, inspector, mortgage broker, etc. When an agent is getting a kickback and not disclosing it to you, their interests are not aligned with your interests. You absolutely need to do your own due diligence for all of these services. As my grandfather said, and he has been quoted by so many, caveat emptor.
Uhm yeah that is highly illegal. And not like loss your license illegal, like end up in federal prison for respa violations illegal. I don't doubt you've run into it, but I do doubt that it's happened many times. It is something that would be very easy to get caught doing when the real estate commission performs the audits of the agents records. All referalls are part of the audit process.
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@Russell Brazil I didn't realize it was truly illegal. Unethical yes. I ran into it last year in Baltimore, and a couple of times in DC and adjacent Maryland in the earlier part of this decade. Needless to say, I don't use those agents or the firms they work for anymore.
Daniel Odess : you can report that if want it to stop. It is illegal. Hope you come across god agents too.
I have had good experience with Andrea Mann at Century 21 in finding rental properties throughout Baltimore City. She knows the different areas very well and will send you lots of properties within your price range. She has also been great at sending me comps for houses that I am interested in purchasing. In the last few months I have referred her to two others who quickly found investment properties in Baltimore. Tell her that I recommended her and you won't be disappointed.
@Tarik Larue you are awesome! Thank you for the tip, I've sent her a message and gave your name as a referral. Appreciate the help!
Welcome! I'm new here too & I live in Baltimore county. I was given a great tip about networking at local meetings. When you go there, don't just sit in the crowd and listen. Always leave with 3 new contacts. Just walk up to people and introduce yourself. Ask them about their investment niche & talk about your plans and ideas. You will find what you need that way.
@Monica Young great tip! I've been to one already and going to another next week. They are really helpful to speak with actual people doing what I would like to do and gaining new connections
@Lashaw Salta all the info above is great! I really like the one about going to network events. You meet so many different people doing so many different things. Just my personal experience, I am new investor also, but I was looking at a ton of properties just myself and if i saw something I liked I just would call the listing agent. I think it has been mentioned on a couple pod casts that some people have success because if you are not working with a buyers agent then they could rep you and get both sides of the commission. Another factor that really helps you is that you are getting your name out there. I actually had two separate deals that were brought to my attention bc of agents i had contacted in the past and just told them what kind of properties I was looking for. I actually couldn't take advantage bc I am wrapped up in another deal but I actually contact other investors who the deal might work for and connect them. Hope some of that info has helped and if you need anything please feel free to contact me. I am always will to help any way that I can.