how find deals without a real estate agent

Question

Hello BP Community,

I am just starting out as a real estate investor.  I have one rental, and am in the process of buying another deal from a friend through a lease with an option to purchase.  I am continuing to search for other deals.

My question is, how do I get information on properties?  How do I find out about the seller's situation?  How do I learn what repairs are needed?  How do I learn if its a short-sale, or a bank owned property?  Listing agents wont talk with me... and I don't want to bother my agent when Im researching properties multiple properties I most likely wont buy.  When I do buy, it will be at a discount, which means my agent won't earn much of a fee.

Thank you!

Helen Lowery

Ben Graves · Answer

Hi Helen,

You can always do online research on any property. In some cases it's as much information as a real estate broker has. I'm not familiar with VA Real Estate at all, but in most cases, as a buyer, it doesn't mean you'll get a better deal. Most cases the seller signs a listing agreement saying they'll pay 6% to get it sold and if the buyer uses an agent they get half. If the buyer doesn't use in agent, in most cases, the listing agent keeps it all. If the agent you're using feels bothered by your questions, get a new agent. If you feel bothered asking them questions, don't it's their job and that's what they are paid for. That being said don't go on a property tour across town with your agent on a property you have no intention of buying, that's just common sense. Lastly don't ever try to by through the listing agent or even ask questions. It's their job, and in most cases the law, to do everything with the sellers best interest in mind.

Hope this helps

Good Luck!

Ben

Helen Lowery · Answer

Thank you for your answers.  I am looking for deals I can wholesale.  Is it reasonable to ask my real estate agent to call on properties that I might wholesale?