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Updated about 3 years ago on . Most recent reply

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Sergio Orjuela
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How to find investor friendly real estate agent

Sergio Orjuela
Posted

Hi all,

I'm looking to purchase my first investment property in my area, North Texas, in the next few months. I can live in the property but do not have to.

My question is, how can I find and gauge weather or not an agent is investment friendly and has access to off market deals?

Would I be okay with a traditional real estate agent?


Thank you,

Sergio

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Bruce Lynn#2 Real Estate Agent Contributor
  • Real Estate Broker
  • Coppell, TX
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Bruce Lynn#2 Real Estate Agent Contributor
  • Real Estate Broker
  • Coppell, TX
Replied

Off-market deals are really the ones you source yourself.  Realtors typically and are really geared for the most part for ON market deals.

Don't get too caught up I would say with OFF market deals....really this is just a marketing term. Just means they're not on MLS. That doesn't mean they're deals.

Typical off market deal in DFW area that will be marketed to you as an OFF market deal....means it is being sent out to 1000 investors, 20-50 show up during a 2 hour period, lets say on a Friday...you put your bid in an envelope to be opened at 3pm and if you're the winner will need $5000 non-refundable deposit...no inspection or due diligence period.  These are typically ugly houses that need work.

UNLESS you are the one sourcing the off market deals.....you buy the list, you call, you door knock, you call again, you send post cards, you call again, you drive for dollars, and you call again...and keep calling....and then make offers directly to the owner.

Hope that makes sense for you.....welcome to Texas...start banking plenty of cash....so you can make strong offers.   There are normally several agents who respond here to posts like this in North Texas and probably most of those seems like strong investor agents....so pick one, go to their office or take them for coffee....do your interview and see what works best for you...maybe do that with 3-4-5 of them.

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