Advice on Vetting a Realtor to find Multi-Unit Investments_South Florida & North Carolina

11 Replies

Hi All,

Please share advice on evaluating whether a Real Estate agent is a good candidate to source investment properties, particularly multi-family units/apartments. I'm currently seeking a quadraplex in South Florida but am looking for someone I can work with long term in both South Florida and Fayetteville, NC.

Any advice on what makes a great agent to work with for investments will be helpful.

(Becoming an agent and sourcing on my own is not an option at the moment)

Thanks!

Hello Lakila,

Welcome to BP!! A few months ago I was a new member also! What area of South Florida were you looking in? Were you looking at Broward County and a particular city? 

Hello Lakila,

I can help you in Broward county. 

Welcome

I have been in NC near Charlotte for about 10 years and I have used several realltors for various transactions.  They have all had their strengths but few were open minded when it came to contract assignments and creative financing.  

I now use Julia Pacifico of Pacifico Properties in Kannapolis, NC.  She is an investor herself and totally understands our needs.

Good Luck

Nadine

Thanks Nadine...that's helpful to know. I'll look into Pacifico!

I lived in Charlotte about 10 yrs ago also...great city!

Best of luck


Originally posted by @Nadine Massarelli :

Welcome

I have been in NC near Charlotte for about 10 years and I have used several realltors for various transactions.  They have all had their strengths but few were open minded when it came to contract assignments and creative financing.  

I now use Julia Pacifico of Pacifico Properties in Kannapolis, NC.  She is an investor herself and totally understands our needs.

Good Luck

Nadine


Hi Nicola...I'm interested primarily in Broward  and Dade. I'm more so looking for the best deal in the right location versus being married to a specific area. To further clarify, I'm looking to do a house hack in a quadraplex unit...so the right deal is more my focus.

Any advice as a former newbie? :-)


Originally posted by @Nicola Harvey :

Hello Lakila,

Welcome to BP!! A few months ago I was a new member also! What area of South Florida were you looking in? Were you looking at Broward County and a particular city? 

@Lakila Richardson ,

Dania Beach has many multifamily properties that offer great cap rates. I am helping a client find an investment property there right now!

@Antonio Ferguson ...Dania's an option...sent you an inbox message...let's chat. 

Originally posted by @Antonio Ferguson:

@Lakila Richardson ,

Dania Beach has many multifamily properties that offer great cap rates. I am helping a client find an investment property there right now!

@Lakila Richardson

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find agents here that also invest. You can Google to locate them and go to meetup.com

A good read The Real Estate Agent’s Ultimate Guide to Working with Investors http://www.biggerpockets.com/renewsblog/2013/08/24/real-estate-agents-working-with-investors/

Good Luck

Paul 

Excellent suggestion Account Closed ...I'm on it!

Originally posted by Account Closed:

@Lakila Richardson

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find agents here that also invest. You can Google to locate them and go to meetup.com

A good read The Real Estate Agent’s Ultimate Guide to Working with Investors http://www.biggerpockets.com/renewsblog/2013/08/24/real-estate-agents-working-with-investors/

Good Luck

Paul 

Hi @Lakila Richardson ,

I am not sure why I just saw this..so sorry. Congrats, I see you have been doing a lot of researching! First order of business..If you haven't been to a BREIA meeting you should ensure that you get to the meeting this Wednesday 8/5.  I will be there and would love to meet you! We can exchange ideas and maybe arrange to have tea/coffee in the future.

BREIA is going to be your best place to start. They are the largest chartered member of the National REIA in South Florida! I wish I had taken that advice a year or so ago and a few thousands richer :) All the very best!

My advice (and I am a broker) is get your ducks in a row....credit, wants, desired location, what you will and will not accept...and reach out to multiple agents. Ask  to be called when deals come available.  Make sure they understand you know what you want and that you can execute.  

Brokers get inundated with requests from tire kickers wasting their time. Most have tight networks of a handful of investors with which they are capable of executing deals. If you get in to their inner circle, they will take care of you. ...but don't rely on one.  No broker has control of the market and we usually have access to off market deals, known as pocket listings.  

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