Just starting looking into real estate investing.
I’m not even sure what question(s) I should start with. Do I need a real estate agent or a broker when looking for my first property to purchase? If not how does that work?
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@Aurelio Benavidez, I remember how confusing all of these titles can sound when you are first starting.
You do not need to have everything figured out before you start looking. I would focus less on whether someone calls themselves an agent or broker and more on whether they actually understand investment property.
When I’m looking at real estate, I want someone who can talk through the rent, neighborhood, recent sales, repairs, and what the property may look like as an investment. That is very different from someone who mainly helps people buy a home to live in.
I would also talk to a few people before choosing anyone. Ask them what types of investors they work with and how they help someone analyze a deal.
You are asking the right kind of question for where you are right now. Start simple and learn one step at a time.
Since you’re in Illinois, the exact licensing titles and rules can be different from Maryland, so I’d make sure you work with someone licensed in your state.