How I found my realtor

Thanks for sharing this vince, I'm not normally up this time in the morning so I probably would have missed the URL you shared.

That's sound good , Vince. My realtor abandoned me after a deal fell through. She wouldn't return my calls. You need a realtor that understands that it takes patience to work with an investor.
God bless

Thanks for sharing Vince. This newbie will be sure to incorporate this strategy in building my team.

Al. Robinson

Will check it out!

No problem, hope you guys find it useful!

Vince

Vince....Thank you for the information...I am using it today and pray I can find a good realtor who is investor friendly...I have not had luck yet...will keep you posted...again..blessings to you!

Excellent! I am in the process now so this will definitely come in handy...

Thanks Vince! I'm working with a couple of good agents already but curious to see what reults I get by filling out the form.

Tony

Thanks a lot. This is a really cool tool.

Now if I can just figure out a way to send this post (or a link to it) to friends on here. I'm an analog man in a digital world.

Thanks
Steve

Thanks for the tip Vince. I am using it to help me find my realtor/agent. I posted the inquiry yesterday and I am already receiving responses.

There are real estate agents everywhere. Many good ones, and many not so good ones. All you have to do is start making connections and contacts. It's good to see you're still working with a good one you found!

I posted on the site what I was looking for and the such and have had five agents contact me about wanting to work with me with a resume of how long they have been agents and the like. Now I just have to contact them and discuss things with each one to see which one I pick to work with and keep the others on my list. Thanks for the information vince.

ba

That's great! I'm glad to see the website is working for you guys!

Vince

Saw this nutty posting on another thread this morning. Lucy has some 'splaining to do. DG Admin: take notice!

That's great. Thanks for the info on the site and it's capability. May put it to use!

All you need to mention is that you are looking for investor-friendly agent and that you plan to buy 3-5 per month. You should mention if you plan to flip or buy and hold to narrow the pool. I did that last week and had 7 agents contact me within 2 hours.

I met two of them and one is already fired up to submit multiple offers for me this week as well drive around neighborhoods and look for properties that meet my criteria.

This is a great tool!

A few things I want you all to be careful of

1. Making promises and boasts: Hold off on the "i'll be buying 3-5 houses per month" claims. if you're new, be greatful if you can even get to the closing table in 3 months. Any agent worth their time will not tolerate time wasters and dreamers and boasting and not delievering with a buyer will get you no callbacks or them telling you "unless you have the cash, dont waste their time"

2. Its not them, its you: I know the mentality on here is if a realtor doesnt want to work with you, its their loss. That can be the farthest from the truth. #1 above is the biggest reason why alot of agents don't want to work w newbies. Another is they expect the agent to do all the legwork. That also is farthest from the truth

Most agents actually expect and know the investor to do thier own due diligence than the agent themselves and it makes for an easier transition and working arrangement. This is something that is very important. Alot of money and time is being transferred; Hand holding is not something we do.

Overall, understand the importance of time and be willing to put in the effort if you want a check and don't expect every transaction to go through. A large part of your success is based on how you can deal with failure and adversity; if you let it roll off you and go to the next deal, you should be ok. If you take every instance as the end of the world, you won't last long in this profession.

Best to all.

Vince,
Thanks for sharing.

Peace and Blessings,
Sheila

Thanks for that great information Elix. The agent I chose to use works with several other investors as well and knows what kind of properties they are looking for so maybe I can pass some on to them. I used the letter for realtors that dean posted in one of his books but I did modify it a lot because I know I will not close on 18 properties a year but maybe a couple and told him I am new to this and he understands this and is still wanting to work with me on my ventures.

ba

As elixbrown said, there are really good and experienced agents out there who are worth their time and know what they are talking about.
If you are lucky and know how to sell yourself, they'll give you a chance and work with you.
I'm saying lucky because if you find and experienced realtor who is an active investor and who is willing to work with you, you are on the right track.
I found 3 agents I'm currently in discussions with and all of them said to me:" Omri, we understand what you are trying to do and we are for it but you need to understand that the situation in today’s market is difficult and almost any buyer who you would want to lock their property under contract, will ask you for proof of funds".
Now here starts a problem for the new investor who is trying to make it with no money of his\her own.
I have read people suggesting to use transactional funding proof of funds letters but if you read more carefully into the terms of these lenders, you'll see that they are actually intended for very specific deals (like double closing for example) and not necessarily simple wholesale\assignment.
As for my buyers, although I have qualified them through telephone conversation, I do not have proof of funds letter from them.
All of that said, it's a tricky situation to overcome. Suggestions anyone? Care to share your own experiences? Thanks!

Elix, so many newbees run off their realtors by making multiple low ball offers on the wrong type of properties and then complain they can't keep a realtor? Nor do they have the ability to actually CLOSE a deal! Why?? They have not read, studied, read, studied, listened and LEARNED! Its the old 95 to 5 rule.

Omrik, I use my POF from my transactional funder on ALL my offers. It does not matter if you are doing an assignment and use the POF letter that I use because you don't need the funds anyway right? However, my guys will back up the POF by proving to the seller that they will back you for up to $600,000. If its an assignment you do not need funding, if its a double close(REO Flip) the funding will be there if your buyer is in place. Don't let the fact that the POF is only good for double close, it will work good enough to get your offer accepted. Then you better have your exit strategy in place (thats the problem now, not the POF letter!)

Good Luck and start making offers!
Michael Mangham
MD Home Acquisitions LLC

http://www.mdtfcam.com POF letters and Transactional fund site

Here in NY, most of my fellow agents wont deal with wholesalers because

1. Most don't know what they are doing
2. They expect you to give them a list of everything you have
3. Most brokers won't except transactional funding w/ offers
4. They don't understand that in this market most aren't accepting 50% offers

The thing is here there are actual buyers with the cash to buy UNDER 30 days. Most of my deals close under 2 weeks. Nowadays they want to see a bank statement and if you are offering under a company name they want corp docs and the bank statement has to be in the company name. Weeds out the fakers and frauds.

I'm all for assisting. Anyone who knows me on here knows that I will help out as I can, but you have to come correct in the beginning.