All Forum Posts by: Maranda Tucker

There are many investors looking for agents. Here is a good place to start, but my best advice is to go to live RE Investor Meetups in your area. Great way to connect with investors

Very few agents also invest, understand financials, know cost of rehabs, current rents, landlord tenant law etc

If you work with an agent who is an investor, they don't need to run numbers, because they have done it so much they "see" the numbers when looking at the listing. BP is hands down the best place to find agents with personal investing experience.  

First, an investor-friendly agent needs to assume the mindset of an investor. This includes developing a two-pronged framework to guide the client during their decision making process: 

- The agent should understand the nature of markets (I mean this from a psychological perspective, in addition to the "know your market" adage).

- The agent needs to internalize the margin of safety concept - buying an asset for way less than you think it's worth. 

All successful investors understand these two things, whether they realize it or not.

Second, the agent needs to learn how to analyze deals, at least at a basic level.  Learning how to use the BP calculators would probably be sufficient.

Third, the agent needs to be a local market expert.  This includes knowing values for pre-rehab flips, ARVs, and rents.  It helps to have an idea of what common rehab items cost in the local market.  It's also important to have a strong understanding of local market nuances because an out of state investor might not.  For example, here in Northern NJ, it's common to inspect for in-ground oil tanks during the inspection process.

Fourth, the agent needs to provide excellent client service to out of state clients.  This includes things like knowing how to provide a *useful* property tour via FaceTime or how to record a video tour and email it to the client.

I am an agent who specializes in working with out of state investors. Here are my thoughts on this:

You have to make sure you are providing value they can not obtain on their own. In my experience working with investors, I provide the value of time. Most of the investors have other jobs and/or are agents themselves. 

My value to them is 1. finding the right deal that matches their investment goals 2. Arranging for property management inspections etc and 3. negotiating the deal in their favor to meet or exceed their investment strategy. 

I use a spreadsheet that allows me to analyze properties quickly whether it be strs or mtrs or ltrs. This allows me to put the right deals infront of the investors and leverage their time. 

I hope this information helps

Yeah of course i'd be aware of the competition. My idea would  start of as a MVP (minimal viable product) with the 3D scans - maybe using those scans to develop pictures as well. Eventually i'd expand to different things like 2D Key plans, drone shots, etc. 

As an agent yourself. Do you use this service? What more would you like to see from other services you have used if it is something you use?