Renton, WA · Member since 2018 · 21 posts · 4 votes
I am from newbie Seattle area and it is not a good market for rental property investment. I started exploring and educating myself about the process and different markets. I narrowed down Memphis and Orlando market and started connecting with real estate agents through zillow, texted them, called them. But unfortunately, I am not getting much response. Looking for help from BP community on how to find out of state Real Estate agent who are willing to help.
I will give you my 02 cents as an agent and investor.
Start searching online on your own for deals. Just a jumping off point. You will see a few names pop up over and over again. Those are typically the agents that have the best reach and relationships at that price point. Then check their reviews on all of the sites and their transaction history on Zillow. You want someone doing at least 30 transactions a year in a lower priced market. When you have narrowed it down to a few agents... Email them directly. NOT through Zillow, Trulia, etc. shortly after shoot them a text letting them know you just emailed them and would like to set up a phone conference. This may sound like a lot just to get an agents attention but at lower price points they are vetting you more than you are vetting them.
The key is to appear serious and well researched. The good agents are very busy and have a high deal flow. At Memphis rental price points they don’t have time to mess around with somebody from across the country that could possibly, maybe, someday buy a $90k house that nets him $1600. They can’t make a living that way. Good agents will take time to educate you, build a relationship and feed you good deals but they have to know you are serious and they are not wasting their time, specifically at those price points. It’s not like Seattle where any sale is a solid payday so agents jump through hoops.
I will give you my 02 cents as an agent and investor.
Start searching online on your own for deals. Just a jumping off point. You will see a few names pop up over and over again. Those are typically the agents that have the best reach and relationships at that price point. Then check their reviews on all of the sites and their transaction history on Zillow. You want someone doing at least 30 transactions a year in a lower priced market. When you have narrowed it down to a few agents... Email them directly. NOT through Zillow, Trulia, etc. shortly after shoot them a text letting them know you just emailed them and would like to set up a phone conference. This may sound like a lot just to get an agents attention but at lower price points they are vetting you more than you are vetting them.
The key is to appear serious and well researched. The good agents are very busy and have a high deal flow. At Memphis rental price points they don’t have time to mess around with somebody from across the country that could possibly, maybe, someday buy a $90k house that nets him $1600. They can’t make a living that way. Good agents will take time to educate you, build a relationship and feed you good deals but they have to know you are serious and they are not wasting their time, specifically at those price points. It’s not like Seattle where any sale is a solid payday so agents jump through hoops.
I agree with @Dawn Brenengen, you'll see the ones active in the community and they'll stand out. What kind of real estate are you looking at getting into?
Sanjeev Kaushik when I was buying sfh out of state I looked for property managers referrals first and then asked them for realtor referrals. Let me know how I can help.
Sanjeev Kaushik when I was buying sfh out of state I looked for property managers referrals first and then asked them for realtor referrals. Let me know how I can help.
Interesting strategy as I usually go the other way.