New Investor Here

Regarding the first agents response: You may find that the house values, in your area, are above $100k. It is up to you to learn the values in your area. If they are all above $100k, you may want to look elsewhere or just work with those numbers. Because, ultimately, it is all about the numbers. Your buyers list, if you are wholesaling, should already have buyers who will work with the pricing in your area. In many areas the values are starting to increase at a very rapid pace.

Regarding agent #2: He asked legitimate questions. It is not sarcastic to want to know how you intend to buy the properties. I am an agent who invests and works with investors in my area. Over the years, I have met many new, wannabe, investors who have the spark for about five minutes, but never pull the trigger. So, as an agent, you want to weed out the ones who will only waste your time from the ones who are serious. I've had both. I really grill any new investor to make sure they are serious. If they are, I will mentor them and do anything I can to help them be successful. Because if they are serious, it means more and continued commissions. Any good and diverse agent will to that. As and agent, if you keep putting properties under contract and they don't close, you and your buyer get a bad reputation in the business and eventually the other agents will advise their sellers to ignore offers from that agent.

Most agents, however, don't know a thing about investing and many think investors are parasites, just like most investors think agents are parasites. Kind of funny how that works. So they may ask questions to burst your bubble. Don't let that stop you.

So just know a good agent will want to know a lot about you and that you will perform. By performing you will start to draw properties to you.
Good luck,
Jim

The steps in the book are great, but you do have to find the buyers, so I would focus on that first. You don't want to lock up a bunch of properties only to find no one wants them.

It is true that you have to know something about your market as well. Maybe there are no houses under 100K where you live. Don't be discouraged though, this is all part of the learning process. And don't be discouraged by RE agents or anyone else, just keep trying, and you can even see the beginning as practice. You are learning by doing. That is the best way! Some people start by calling agents out of your area, just for the practice. Best wishes, Tammy

@jbezoki and femailceo,

Thanks for the replies! Believe it or not, your replies though small they may be are actually of great help! I live in the Southern California area and I'm hoping to find an investor in the same area who wouldn't mind mentoring me even on just the small things.

I hope you guys don't mind if I PM you guys some question which would help me on my way on becoming a successful investor!

First Tammy is right - start with a good buyers list. 5-10 qualified investors - not just name that you got off of the internet. Buyers are easy to find right now. Properties are a different story. Also, Agents are a dime a dozen - you'll most likely sort through several agents before finding a few good ones. Expect it! you'll sort through agents, properties, buyers etc etc. That's part of this business. Take it one step at a time.

Happy Investing!