Working with a good real estate agent

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Seth McGatheyBusiness Member
Real Estate Agent · Milwaukee WI · Member since 2024 · 321 posts · 254 votes
1mo

The most obvious answer is ARVs and analysis. Having your agent run a CMA on a renovated version before you make an offer will help you be confident in the refinance price.

As an agent myself that works with a lot of out of state investors I also find a big part of my job being video walkthroughs where I explain issues I am seeing so that we can start to estimate renovation costs. Helping figure out projected rents. Connecting my buyers with local contractors, lenders, property managers (or me property managing depending on location), etc. A good investor friendly agent can really step in and support you on almost any part of a BRRRR you might need them to.

But if you are searching for an agent now, I encourage you to interview at least 3. Even if the first one is great, others might be able to provide something you didn't even think to ask the first one for. 

Best of luck on your search! 

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  • Seth McGatheyBusiness Member
    Real Estate Agent · Milwaukee WI · Member since 2024 · 321 posts · 254 votes
    1mo

    The most obvious answer is ARVs and analysis. Having your agent run a CMA on a renovated version before you make an offer will help you be confident in the refinance price.

    As an agent myself that works with a lot of out of state investors I also find a big part of my job being video walkthroughs where I explain issues I am seeing so that we can start to estimate renovation costs. Helping figure out projected rents. Connecting my buyers with local contractors, lenders, property managers (or me property managing depending on location), etc. A good investor friendly agent can really step in and support you on almost any part of a BRRRR you might need them to.

    But if you are searching for an agent now, I encourage you to interview at least 3. Even if the first one is great, others might be able to provide something you didn't even think to ask the first one for. 

    Best of luck on your search! 

    [email protected]708-297-0996
    Seth McGathey - Shorewest Realtor4.912 Reviews
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    2Reply
  • Allen Montgomery
    OP
    New to Real Estate · Louisville, KY · Member since 2024 · 11 posts · 12 votes
    1mo

    I have an agent I really like. The one who helped me get my first property that I house hacked. I just wanna make sure to what the boxes are that need to be checked, because I really wanna continue to work with her, unless she doesn't't check all the boxes.

    1Reply
  • Samuel DioufBusiness Member
    Real Estate Agent · Columbus & Cleveland, OH · Member since 2023 · 1k+ posts · 1k+ votes
    1mo

    Hey, a good agent should be able to guide you through the entire process and also get you connected with all the right connections you need to be successful, including deals, contractors, lenders, appraisers, ect.

    [email protected]614-662-1652
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  • Arman AhmedPro Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 954 votes
    1mo
    Quote from @Allen Montgomery:

    What are some of the ways a investor friendly real estate agent can be a asset in the BRRRR strategy.

    Hey Allen, a good investor-friendly agent can make a BRRRR a lot easier by helping you find the right deal, understand the neighborhood, estimate the after-repair value, and connect you with reliable contractors and lenders. That becomes even more important when investing out of state. I'd also look at Midwest markets like Ohio, where the lower acquisition costs can give you more room to make the BRRRR numbers work.

    [email protected]614-418-6081
    1Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    1mo
    Quote from @Allen Montgomery:

    What are some of the ways a investor friendly real estate agent can be a asset in the BRRRR strategy.

    They send you good off market deals

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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  • Jeff Roth
    Real Estate Consultant · Ann Arbor, MI · Member since 2022 · 466 posts · 257 votes
    1mo

    Hi Allen from Louisville, Kentucky-

    Great question! You asked how an investor friendly Realtor can help you with your Buy Rehab Rent Refinance and Repeat projects.

    An experienced investor friendly Realtor will be able to help you source properties that will allow you to buy them well enough to fix up and add value so you can rent the property out and refinance and pull money out and go buy the next project.

    Duplexes are are great properties to do this with because you can potentially fix up a vacant unit, increase rents, and have rent coming in on the other unit. Then, do the same when that unit becomes vacant and refinance after adding value and increasing rents.

    To Your Success!

    1Reply
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