New Invester in Edgewater, FL

[Michele Boyer]

Hello from Florida! My name is Michele and although this is my first post, I have to admit that I have been watching from the sidelines here on BP for a few months. One day my husband said to me that he has been thinking that we should get involved in real estate investing and that I should check out this Bigger Pockets website that he found. I did, and I ran with it, reading the articles and forum posts, buying the recommended books and reading them too.
I have not bought any properties yet, but my plan is to start with buying SFR's and renting them out. From there, I may want to also get into multi-family properties.
I'm so excited to get started (and scared to death at the same time), but can anyone tell me how to find a good realtor? I have been searching on Zillow and have found a few properties that I am interested in, but I don't have a realtor to help me further with my search.

I look forward to working with all of you in the future!

[Joel Owens]

Hi Michele,

First thing you really need to do is set out your game plan. Look at how much money you have now to put down on a property or properties and WHY you are investing?? Example you have 15 years left until you both retire and you want XX amount of dollars in income by then.

The plan will change somewhat over time as new opportunities present themselves but do not get worried about that.

Do not go in and buy fast wanting to get going and not (lose out) on something. You buy into a marginal or bad deal that way and many quit the real estate investing business with a sour taste in their mouths. Instead do not get analysis by paralysis but instead be cautious with your purchase.

It is a good idea once you lay out your game plan to talk to a mortgage broker or a few banks. They will analyze your financial situation and you will learn in your market what kind of debt and ltv (loan to value) is available. When looking for a local agent you might want to attend the local real estate investors association. Do not buy a bunch of courses etc. but just go to the mixer to see if you connect with an agent who is used to working with investors and has experience. Show them you are serious and ready to buy as lookie-loos go to the bottom of the list.

Hope it helps.