How to Inquire About a Property

[JR Montes]

Hi BP community,

I'm a REI newbie starting out in the San Diego market (about a month of independent learning) but kind of have an idea what kinds of properties I'd like to invest in and how I'd go about financing the deals thanks to the BP podcasts and "The Book on Investing in RE with No and Low Money Down." I'm now browsing through properties on LoopNet to get a feel for the market and wanted to ask about the do's/dont's when calling the agents/brokers posting the properties on LoopNet.

1. If I'm interested in learning more about the property, is the first step calling them?
2. What are the typical questions usually asked to learn more about the property being sold?
3. How do I bring up different options of financing? Do I hold off on asking? (Lease options, seller financing, etc.)
4. Any tips that would help me avoid sounding ignorant speaking to them would be appreciated!

Best,

JR

[Casey Murray]

@JR M. Don't be afraid to ask any questions to agents (whether you're new or not). I would be honest by telling them you're new, want to learn RE and you have questions for them. If they won't take a few minutes out of their day to help you, move onto the next. 

I would recommend identifying what type of property you're interested in and to know your market including market rents (using Craigslist, Rentometer, etc). A great way to absorb this info is by going to local REIA clubs and talking with investors. We all have value to provide our network whether it's money, knowledge through experience or time. Figure out your value point and offer it consistently to get small victories throughout your real estate career. Best of luck.