I have read the books, watched the podcasts, and I'm ready to get started. I am looking to get my first investment property in the Kansas City MO area and I wanted to start meeting investor friendly real estate agents. Honestly, I am up for meeting anyone interested in REI in the KCMO area but I thought I would start with some agents to get the ball rolling here. I'd be happy to meet up with anyone outside the forums as well to chat.
Hey man, I’m in KC too and considering buying soon as well. I’d be up for meeting and exchanging notes sometime over coffee.
Hey @Josh Thompson . Congrats to you on taking the next step. I'd be happy to chat, learn more about what you'd like to do and see how I can help. Let me know if you'd like to get together.
@Josh Thompson , congrats on moving on. I am an agent and GC. (sorry but not a shameless plug) I only use my license to invest for our business.
Josh draft a list of criteria you want from your agent. Make sure they understand your goals and investing. Don't be afraid to shop around but when you find a good one - commit. Best of luck to you!
Go to kcflipthathouse.com to see what we have available
I am a broker, but not looking to be a buyers agent. A buyers agent for an investor takes a lot of qualities that I just don't have:
1) Knowledge and Understanding of the Real Estate Investor and what he is looking for - most if you say you are an investor will send you the cheap fixer upper houses, but don't quite get what you are really looking for. So as an investor buyer you need to know EXACTLY what it is you want and be able to explain that.
2) Time to devote to an Investor buyer - An investor buyer takes just as much time to babysit as a regular buyer - time to figure out what it is that they want, time to watch listings and preview them for their buyers, and time to go show them. However, a good deal could go in less than 24 hours. So you need an agent that can be johnny on the spot all the time and take you to see houses ASAP - one reason why I became my own agent, I could not find an agent, nor would I ask one to devote that much time to me as 3 to 6% commission on the average property just does not pay one to be that devoted. What I found that worked when I worked with investor buyers were buyers looking for exactly the same thing I was. Then when I found a house that I really liked for myself but was totally tapped out of funds, well I would call my 3 buyers up to see if they were buying and often they would write offers sight unseen, based on my recommendations.
Note, that the day an investor wants to go look at houses or when he might be in town to look for investments, that there may not be a good deal at that point. But 2 days later at 3pm it might list and as a buyer you need to be able to act when the agent calls.
My recommendation is to find and train a buyers agent, be willing to pay them by the hour, not just the commission on a particular property because you may never buy a particular property. Pay them for their time, get a good working relationship and train them on exactly what you are looking for, so when it comes up, they and you can act quickly. At the same time, get on every wholesaler's list, every auction site email list, every REO agents list and watch what comes through.
Hope that helps and if you are in Kansas City, I hope to see you at the next MAREI Meeting November 14th - were' talking Subject to with Edward O'Daniel from St Louis
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