Hello- Realtor or no Realtor?

Question

My name is Amanda, from the Cleveland area ( Elyria, OH)  and I new to real estate investing. I have over 7 years experience as a landlord/tenant attorney

I have starting to look for rental properties in the Lorain County area. Right now, I do not have a realtor, would you suggest that I get one? Also, if I do use a realtor, what would be the best way to find one that would that work well with investors? Thanks for your help!

James Barnes · Answer

What James said above. I think it's vital to have a good realtor on your side. Check out the learn tab above^. The article will give you a breakdown of the "team members" you will most likely need to get started. While some of us don't need all of them right away, I'm sure that most will agree that some of them are a necessity. Unless, of course, you get your RE license and are familiar with the market you are looking to invest in(then you can be your own realtor!)

Read up Amanda, I'm a newbie too and I've been on this site religiously for 2 months and haven't began to even began to put a dent into the amount of content on this site!

I feel as if you've come to the best place!

What are your goals?

Good luck,

Keep in touch

James

Read up Amanda, I'm a newbie too and I've been on this site religiously for 2 months and haven't began to even began to put a dent into the amount of content on this site!

I feel as if you've come to the best place!

What are your goals?

Good luck,

Keep in touch

James

Amanda Davis · Answer

Thanks for your help. Will be reaching out.

James Wise · Answer

@Amanda Davis

Welcome to the site.

Absolutely a good idea to get a Realtor.

As for where to go when looking for one that works well with investors your already here. BiggerPockets.

Jesse T. · Answer

I think an agent who at least does some investing is going to be the most promising.  Even a very active investor isn't going to buy every property.  They also will likely have a number of properties that are very close, but just miss their criteria.  If they highly leverage their investments and/or have a very high desired rate of return - what they pass on maybe very appealing to you.  If they pass due to risks, I would be inclined to pass also as a new investor.

The barrier between the buyer and seller can be very helpful in Real Estate transactions.

Mark Nolan · Answer

@Amanda Davis

BP is full of useful resources such as forums and blogs. Welcome to the Bigger Pockets community-be sure to check out all the awesome BP blogs under “Learn.”

Timothy Murphy III · Answer

@Amanda Davis

Welcome to the forums.

Dmitriy Fomichenko · Answer

@Amanda Davis

Welcome to the site!

Jean Bolger · Answer

I would definitely suggest using a buyer's agent, unless you are going to be marketing aggressively for off-market deals.  (I can't see why you'd need to do that in your area, as it seems there are plenty of good deals to be found through regular listings.) So, yes, start with an agent - a good one will keep you from making potentially painful mistakes as you start out.

Brandon Siewert · Answer

I think Realtors are invaluable resources, but finding one that works well with investors has been difficult in my experience.  Either they are already seeking out deals for themselves or they arent familiar enough with how the financial process differs from occupant home buyers.  In general most know their market and are very valuable when it comes to closing the deal and completing the paperwork correctly.  It also provides a barrier between you and the seller.  It could, however, take as long to find a good fit realtor as it does to find the right deal.

Brandon Uehlein · Answer

@Amanda Davis

Welcome to BP! You're already on the right track starting here. So much useful information and tools. When it come to REI it is definitely a good choice to go with a RE agent. I was born and raised in Lorain County and know it can be a money maker. PM if you have any questions, and good luck!

Hello- Realtor or no Realtor?

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