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Jason Scharf
  • Liverpool, NY
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May have signed with buyer's agent too quickly

Jason Scharf
  • Liverpool, NY
Posted Feb 13 2017, 11:06

Hello Everyone,

I currently reside in Liverpool, NY and my goal is to find a cash-flowing small multi-family to house-hack. I want to ensure it has at least $100 of positive cash-flow per door, as multiple investment guides say should be the minimum rule of thumb. 

I am new to the Real Estate Investing world and was stuck in analysis paralysis for quite some time. Recently I decided that I'm taking action! I did some online research and contacted an agent located in Liverpool. We have looked at a few homes together and sat down to meet one night and I signed an exclusive buyers agent form which has a 6-month duration. To make a long story short, it's not that I do not like her, I think she's great, but she admittedly does not specialize in investing and does not have much experience with REI. She does have loads of knowledge about rehab work, but I'm not sure if this is the right fit for me. She is the first agent I've ever worked with and frankly, my adrenaline and excitation of beginning the process I think clouded my judgement. I should not have signed something I wasn't 100% knowledgeable about and undoubtedly am making some rookie mistakes. Is there anyway that I could still pursue working with another possibly "better fitting" agent or am I more or less bound now that I've signed the Exclusive Buyer's Agent form? Again, it's not that I don't like her, but I feel like I need more guidance than what I'm getting. Guidance about vacancy rates, rehab cost, property management, rental rates, good rental areas in Syracuse region, etc.

As always, thank you for your help and any advice would be excellent.

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