All Forum Posts by: Brittany Moreland

Thank you, hopefully the investor I've been finding these properties for is just figuring out his strategy.  I have done some screening on him, I check everyone buyer or seller I work with because of the safety factor of the job.  I'm a single mom of 2 young kids so can't risk being one of the occasional realtors that gets murdered.  He's a ligit investor, has the funds and methods to make large purchases and everything he's said about himself checks out 100%.

I'm about to make my first offer on a pre foreclosure, you can find them on Zillow.  You can also check how much they owe in your counties registry of deeds online to see if they're even worth contacting.  The house I'm getting ready to try to pick up they only owe $108k but will sell easily at $299-$315k.  Best of luck to you in your search!

There's realtors who are wholesalers and investors that you could try to track down by either placing an add on craigslist or calling a local real estate brokerage and asking for a realtor who understands wholesaling.  I'm not sure how you're looking to work with a realtor in regards to wholesaling.  Are you looking to find a realtor that may have investors or buyers to purchase the properties you pick up?  

Thank you all for your input on this.  I do have salable listings and closed deals, I would just much prefer to soley work with investors since that is why I got into real estate and that's the area of the market I have been studying on my own for 12yrs or so.  I'm mostly interested in finding investors the properties over listing them since in my area most investors sell their own properties to avoid fees to realtors.  I have 2 portfolio deals on the market and some other unique residential commercial properties.  I get inquires from those and have had investors state they want to place offers with me and ask me to find them x amount of dollars of property in the area so they can do the financing all in one shot.  I spend hours finding them the best deals and they're excited to go up until the point it's time to make offers.  All the properties I find as well will pay my commission, if they won't I send that separately for them to make their own offers.  The asking price and commission isn't changing if I submit an offer or if an investor is going direct through the listing broker.  I have connections to financing under $2mil and up to $200+mil.  I understand how to make people money and can quickly find the best combination of properties to get somebody the highest return.  Maybe right at this moment I'm feeling slightly bitter because an investor asked me to find them up to $50mil worth of property and wanted to close in 10 days.  I did the work, found him exactly what he wanted and asked me to find him and when it came time to sign offers he goes MIA.  Why waste somebody's time like that?  This seems to be the general experience I'm having with investors, except one I run comps for and he sends leads my way...he's the only one I've come across so far that follows through on his end and has respect of others time.

I was curious about how investors feel about working with realtors to purchase properties.  I would like to work exclusively with a couple investors that pick up large quantities of properties once or twice a year either multi families, commercial or land for development.  I've spoke with a few looking to spend 10+mil, I spend a few days finding great properties for them, they say they're ready to make offers and then seem to vanish.  All I can assume is that they want to get the offers in themselves direct from the sellers in the hopes of getting a lower price since it would cost them nothing to get the offers in through me and would reduce the work they have to do.  Do investors not trust realtors to truly try to negotiate them the lowest price?  What would a realtor have to do or say to prove that they really do want to get investors the best deals possible?  

On this note as well if you're looking for an investor friendly realtor in MA I can find you the best deals, negotiate large purchases involving numerous properties and get you deals closed out in 10 days.

Evictions can be a lengthy and expensive process.  I don't know what the tenant protection laws are like where you are but in my area the courts seriously favor tenants.  It can sometimes be much cheaper and much less of a headache to pay a tenant to leave.  You can offer her a few hundred to cover relocation expenses and give her 2wks or so to do that...don't pay her until she's gone and locks are changed!  If you're out of state I highly suggest a property manager like many others have suggested.  If she never signed a lease she is considered to have a month to month lease.  So if you don't want to or can't pay her to leave at this time send her a certified letter giving her 30 days to vacate the property.  If she doesn't then you can start the eviction process.  Best of luck to you with sorting this situation out, getting better tenants in and hopefully making a lot of money in real estate investing.

80% of the time I work as a dual agent on deals I close.  The biggest difference there is an agent representing both sides can't make any suggestions on price and needs to act more like a mediator in the deal.  Both you as the buyer and the sellers need to sign consent to be represented that way as well.  If exclusive representation is the best option for you what I would suggest is telling the list agent that and requesting they get you a buyers agent.  Every dual deal I work I explain dual agency to them and ask them if they would prefer me to get them a buyers agent for the deal.  I have yet to have somebody say yes to that, they always have preferred to work with me...but I think that is simply because I bring my baby with me and people like seeing a cute little baby.  The list agent can collect a referral fee from the buyers agent representing you so they get something on both sides which I feel is fair since this other agent didn't find or show you the property and therefore get paid a fair portion for a fair amount of work.

I'm a realtor in Mass and hopefully would have thought your message was spam.  If you like I can help you get in though with a realtor in your area who specializes in working with investors.

The majority of what you learn in the real estate course isn't something you can apply to day to day dealings in real estate.  The courses are more to give you an overview and very basic understanding of real estate law.  If you are planning to work with a realtor then I wouldn't bother taking any course or studying the material, your realtor(granted they are a good one) will be a great way to learn all this information over time.  If you're not planning to work with a realtor I would suggest taking a course, even if you don't get your license, so you can have that basic understanding of real estate laws and terminology.  I would also take the course instead, which is taught primarily by real estate lawyers in my State, instead of just studying on your own.  Having somebody there to answer your questions is unbelievably helpful.  Last place you ever want to find yourself in is a legal situation that could have been easily avoided!!!  Congratulations on deciding to get into real estate, wishing you lots of success.

If you're looking in Massachusetts at all I can get you properties that aren't on the MLS. I can search pre foreclosures for you and take the offers directly to the owners before the bank takes them. I also have 2 portfolio deals available in Ma if you're interested in making a large purchase out here. There's a potential offer however coming in on 1 or both of them in the next few days. Let me know if I can be of assistance at all or if you have any questions or need to locate an agent in a certain area I can help you out.