All Forum Posts by: Austin Li
Austin Li has started 2 posts and replied 4 times.
Post: Question regarding agent agreement
- Real Estate Investor
- Dallas, TX
- Posts 4
- Votes 1
Originally posted by @Dawn Oishi:
I've worked with several out of state investors and have asked for a signed representation agreement at different times during the process. If you have provided me your POF, PreQual letter and Drivers License, then we are good to go until you want to write an offer. If you ask me to run all over town to view properties, run your numbers, find you contractors, give you cma and rental prices....then, I'm going to make you sign the agreement to ensure my work isn't in vane. A decent Realtor should be able to size up an investor to know if they are testing the waters, riding the fence, or are green to go with a purchase. Next time, request the agent write the representation agreement for just the one property you are interested in. This way you will not feel tied down to them if you are not a good match.
That's a good idea. Thanks!
Post: New member from Los Angeles area (kinda..)
- Real Estate Investor
- Dallas, TX
- Posts 4
- Votes 1
Originally posted by @David Tipton:
Welcome @Austin Li. What led you to investing in Downey?
To be honest, it was because we felt right about the broker that represented us (referral thru a friend), location, vacancy rates, condition of the property (fairly turnkey), and price/expected returns and so far things have worked in our favor. We are hoping to duplicate that again if something like that come up again.
Post: New member from Los Angeles area (kinda..)
- Real Estate Investor
- Dallas, TX
- Posts 4
- Votes 1
Hi, I'm currently in Columbus but was from Los Angeles (lived there since 2004). We bought a MF in Downey last year and we are looking to buy more properties either in the Los Angeles area or in Dallas area. I've been in residential mortgage banking (mortgage risk, portfolio risk area) for my entire career but am hoping to slowly build up passive income for my wife and me.
Certainly looking forward to meet other like-minded investors/agents/brokers!
Post: Question regarding agent agreement
- Real Estate Investor
- Dallas, TX
- Posts 4
- Votes 1
After purchasing a MF in SoCal area, I became interested in the Dallas area and perhaps look into buying our 2nd MF there. We met an agent through a referral but after sending me a couple of properties, the agent wanted us to sign a representation agreement before doing anything else. With our 1st deal, our agent in SoCal didn't make us sign anything until we were ready to make an offer (the offer and agreement came together).
Question.. which is more common/usual? Am I supposed to sign with an agent before s/he can show me anything in a particular area?
Thanks in advance!