All Forum Posts by: Kenneth Z.

I am not investing myself but I am working as an intern real estate agent. I want to know how to find commercial property in a market. I understand that the MLS, or Loopnet, or ...... do not have everything that is available. I don't need specific help just a general understanding of what I need to do in order to find commercial deals that don't hit a system. Right now I am driving around and searching for potential properties that fit the buyer need and doing back end research to contact and find out the availability of that property. I have no problem doing this type of work but does anyone know anything else I can be doing as well?

Purchase Price $57,000

Estimated Retail Total Value: 118K

Tax Assessed Total Value: $120,126

Parcel 1

APN: 361-041-017

Size: 0.21 ac

Parcel 2

APN: 361-103-009

Size: 0.21 ac

Parcel 3

APN: 361-103-110

Size: 0.18 ac

Parcel 4

APN: 361-205-020

Size: 0.11 ac

Parcel 5

APN: 361-223-010

Size: 0.1 ac

Five residential land parcels (two adjacent) in Wildomar near newer subdivisions. Raw land without utilities, but utilities are at property lines/neighboring properties for all. These can be sold as a package or separately, contact directly by replying to this post or message me directly. 

Murrieta real estate school is a local community that has some great people. It is a small community but still a wealth of information. 

These are off market deals.

 We do negotiate directly with the homeowner for these deals. This means that the Realtor is not directly involved in the transaction and does not get a standard commission. Why would a Realtor give us a lead on a property they could list? If the property is so far gone they don't want to deal with it sitting on the market for an extended period of time. The only time we get referrals from agents is when they are going to refuse the listing because Location, Condition, Coding violation etc. Agents who work with investors that can close quickly benefit from not sticking the listing on the market by getting referral commission from purchase and the renovated listing commission after the fact.

He is asking a question regarding a referral fee. If you are a wholesaler working with a real estate agent that is consistently bringing you deals but you negotiate with the home owner you can still compensate the agent for the referral. Look into your state and federal laws that govern this to figure out how you would work this into your specific deal. 

If you have done nothing up till this point except study then your next step is to take action. That action may be as simple as going to a local Investor meeting as mentioned above. This lifestyle is a lot harder than people make it out to be. You need to be able to handle 100 rejections from 100 people and still be able to pick up the phone to call number 101. I think this is the biggest thing that caused me so much grief when I first started. I got scared of phone calls to sellers because I was worried about them saying NO. If you can get over this and confidently talk with sellers you might want to consider starting a cold call schedule. Call 5-10 cold calls every day and get used to talking with people about real estate. 

That is a very loaded question. It is really going to depend on the amount you have available in the deal. If they are bringing you the deal give them a fair amount talk with them be honest about your potential profit and negotiate a percentage out of that. It is unlikely you will be able to give them the full commission unless you were fixing it yourself. Remember that having a Realtor willing to bring you a good deal is something that shouldn't be overlooked. Don't get shortsighted with your commission build a relationship and give them a fair amount. You may also be able to talk them up to your potential buyer if it is a fix and flip. If you can successfully get your buyer to use them as the listing agent after the fact you can bet they will find you on the next deal they have available. 

I also suggest approaching a private money lender or another fix and flip investor. Talk with your local contacts and see if any of them would JV on the deal with you. If you are new leverage your deal for the experience and time of a seasoned investor. You may lose on the profits but you share risk's and benefit from the connections of someone already established.

5 raw land parcels in Wildomar. If you are interested let me know and I will send you the parcel numbers and price details.