All Forum Posts by: Victor Menezes
Victor Menezes has started 1 posts and replied 2 times.
Thank you both for your insights!
I think you bring up a good point. I suppose it's still up to the investor to set the criteria (e.g. condo with x price point, HOA, etc) and have the realtor setup searches that gives the investor a list to evaluate. The realtor can then validate the investor's assumptions based on their pulse of the market (rental comps, etc).
What are some smart questions you can ask a realtor during an initial call to gauge their experience working with investors? I've had a realtor recently tell me "if the rent pays the mortgage, then you're set." Suffice to say that was a quick call.
Hi BP Forum!
I'm a first-time investor (already own a primary residence condo), and while I realize that getting great rentals would require buying off-market or doing some kind of value add (flipping) I'm buying off the MLS as a means to simply get started.
What do you think the role of RE agent in the buying process should be?
I've been talking to a few realtors in my local area, and they simply seem interested in setting up a search on the MLS and sending me the results (something a Redfin/Zillow search does). I've pressed them on what their qualification process looks like (e.g. 1% rule or anything market-specific), but I'm getting a lot of "narrow it down, and we'll figure out the best." Is that normal, or am I not finding the right agent for my purchase.
Granted I'm looking for a 200k-ish condo (instead of a 500k-600k MF), so the commissions are lower, but I still think they should be qualifying what they send me somewhat.
What are your thoughts!?