after reading and preparing as much as possible, it is finally time to kick it into gear. I am meeting a realtor i have worked with in the past today, who is also an investor himself, and will chat about what my goals are etc.
As a newbie investor I have a few questions and points I will bring up during our conversation, but wanted a word of advice from you gurus on what would you ask a realtor (or what DID you ask your realtor) when you started your journey.
David, congrats on getting started! That's one of the hardest parts in REI. I always let my realtor know exactly what I'm looking for, I explain what numbers I need to see and how I calculate those numbers. Then they don't waste my time by sending me properties that won't work. I also ask the realtor how I can help them. If you can show that you care about their business and want them to grow with you, you'll gain a new level of trust and will be much more successful. The more people you can help along the way, the better you'll do. Best of luck!
I am not sure if this is still a current stat, but I read at one point that the average home buyer in the US looks at 17 properties before making a purchase. That's a LOT of that agent's time that he is giving up free of charge for the average buyer. Be aware of that and respectful of his time. I would do as much as you possibly can to show him that you are serious and ready when the right opportunity presents itself. That's not anything earth shattering or revelatory, but simple things like being pre-approved or showing proof of funds. The general sentiment behind all of this is doing everything that you can to help him and his business and to respect his time. Being as specific as possible in communicating what you want is part of that as well.
Other than that, there is a natural inclination to want to impress or act like you know more than you do. Resist that. Be very transparent and ask dumb questions. You're not supposed to know the answers.