GOOD Question?

Comments(4)

• 
  paulabe7139th December, 2003

  Find you a good RE agent that "gets" what we do. He has his finger on the pulse.

• 
  jeff120029th December, 2003

  Jim,
  A realtor can be useful, however, if you ask them, nobody has any junkers for sale. In order to get them on your page sometimes you need to get in your car and drive. When you find a run down house, (Based on your other post regarding working your posterior off trying to find wholesale deals) This property may or may not be listed with an agent.
  This trip you're just getting a list of properties, addresses, listing agents (When available) etc.
  On the ones that aren't listed, get out of the car, and knock on the door. If the door gets answered, don't assume that the person that answers the door is the owner of the property, ask them if they are the owner. If they are, ask them if they's consider selling their house. If they aren't the owner, ask them if they know how to get ahold of the owner, or someone that might know how to get ahold of the owner. Ask the neighbors, and the neighbors neighbors, 2 - 3 houses in both directions and across the street.
  If the house is empty, you can go downtown and find out where the Property Tax bill is being sent, or mail a letter to the property, and ask the post office not to forward it, and ask for address correction information. If all else fails, you can hire a skip trace, etc. The harder the owner is to find, the less competition there is.
  When the houses are listed, call the agent on the sign, and ask them to come over and show it to you. Set an appointment a day or so out., and ask them to pul other properties of the MLS that are in the same shape as this one. Do this with all of the listed properties, and call all of the agents on the signs. Get them all working to find you properties. Sometimes you have to show them that they have junkers listed, and show them exactly what you're looking for. I'd stay away from offering your investment strategy to the realtors until they've had a chance to realize that you're the real deal, or they may flake out on you. Just assure them that the money is not an issue, and if they can show you some junkers, you'll prove it to them. (They're going to try to pre-qualify you)
  Hope this helps,
  Jeff

• 
  JimcCurtis10th December, 2003

  Thanks again Jeff.
  Made 3 more offers today.
  One was a foreclosure that just hit the MLS. Found 2 more that were vacent, looked up address on ****Must Reach Freshman Investor status before posting URL's***
  found both owners are out of town owners. Man what a differance a day makes!

• 
  SteveCook10th December, 2003

  Hello Jim,
  
  I find most of my homes through realtors. What I target through realtors are REO's, estate sales, fixer uppers, tired landlords, etc...
  
  I just bought an REO yesterday through a realtor. Comps are $160k and going up, and I bought for $79,900.
  
  Not all realtors are going to work well with you, but I have written an article on this site that goes into details as to how you should approach a relationship with a real estate agent.
  
  Check it out and hopefully it will lead you in the right direction.
  [addsig]