Updated almost 7 years ago on . Most recent reply
Share your realtor War Stories with me
So here's my realtor story. I started working with a realtor who is a family friend. He had done multiple deals with my father, mostly SFRs. I'm now in my late 20s and thought I'd give him a shot due to years of experience and knowing the guy for significant period of time. I bought my primary residence with him and all went pretty well. Submitted some offers, got one accepted and boom, I have a house.
A year later I'm now pursuing a small multi-family and it's like I'm pulling teeth to see some properties over here. I kind of get the sense "he's too big" and the difference is showing, in both attitude and overall ideology between us. The Dayton, Ohio area where I'm looking is ultimately a large C- to C area with many pockets of 1900-1930s homes, perfect for pursuing 2-4 units properties, while being free and clear of "war zones." Don't get me wrong, there are neighborhoods where I would NEVER invest, and I'm aware enough to avoid them like the plague. I've spoken to and watched many people make money and have successful careers right where I'm looking, spurning the stereotypical thought of "Why can't I too?" My realtor? Not so much. I'm consistently being directed either to areas where the numbers, and I've shown him using the nifty PDFs from the BP calculators, just don't make sense. Or I'm pushed to maybe not schedule a showing for a distressed property with quotes such as "don't you wonder why they aren't sharing more than 2 or 3 pictures?" Where he smells stank, I smell the opportunity to make money.
Ultimately, I understood where the relationship was headed and pulled the plug. But it's been a great example of keeping friends and business separate when ideologies do not match.
Share with me your realtor stories where they weren't on board with the investor mindset and maybe made your job a little harder than it needed to be?
Most Popular Reply
@Dylan Paul if that’s a war story just wait until you have tenants or start major renovations!
It sounds like the guy was just a bad fit for your investing strategy and probably didn’t quite take the time to understand your numbers. He was trying to push you toward things he was comfortable with hoping to help and it just didn’t work. He missed one of the key early lessons I learned in selling real estate: don’t assume you know what people want/need, ask and then actually listen! Glad you found a better fit and good luck with your RE journey!
Side note: on all of my first deals they were so ugly/smelly that friends, family & agents said I needed professional help! They are still some of my biggest cash cows. Don’t let someone else’s perception scare you off pursuing your strategy.