Out of State Investors Advice

[Azinga S Ming]

Hi, I took this past year to learn and take as many classes as possible on real estate investing. Now I'm am finally ready to try and acquire my first property but Massachusetts, my local area is ridiculous. Homes are going for 10,000+ above asking site unseen and distressed homes in crappy neighborhoods are going for 300,000 minimum.  

I stared to look into out of state investing in a price market I can comfortably afford but it is difficult to find responsive help.  I called two real estate agents who turned me down because I have zero investing experience.  I'm currently talking to one now but he has a very nonchalant attitude about it.  Has any one worked an out of state deal remotely? Do you have any advice? 

[Nathan Gesner]

There are literally thousands of people like you with zero experience. They call REALTORS and say they want to invest in property. They look at a few things and then disappear. Or the REALTOR spends countless hours showing them property and they disappear. Or they buy a FSBO without using the agent.

You need to find a way to demonstrate to the agent that you are serious and not just another window-shopper. They don't get paid unless you buy something. My recommendation? Tell them you'll sign an agreement to pay them $XX per hour for their time if you fail to purchase something. If they spend 20 hours showing you property and you don't buy, pay them! $20 an hour for 20 hours is $400. Or if you go through with a purchase, they'll earn a commission. This way they know they're not wasting their time with you.