OfflineImportant Question: Why would a Real Estate Agent who is also a Real Estate Investor bring me Great Deals if he had the expertise to perform these deals himself. He can make more money doing his own assignments and flips.
Please help me with this question because I truly cannot see why he would do this.
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Maybe they are not really an investor, or an investor by the tradional definition. They may want to sell you houses so they make a commission.
Ask the realtor to explain if they are an investor, why is he/she offering you deals and not taking the deals themselves. I would distance myself from that person unless they have a reasonable explanation as they may be more of a fast talker than anything else.
There may be a reasonable explanation, and if the realtor knows upfront you are doing assignments and not buying then they made be sincere as opposed to working an angle.
DG admin said "Ask the Realtor to explain if they are an investor, why is he/she offering you deals and not taking the deals themselves."
So I asked my Realtor and she explained "it is not worth it for me to step on my investors toes" She said when she went from investor to Realtor that investors did not want to work with her because she had the edge on props. She began to find herself investor-less. Over time as she gained experience she found she could make more money having tons of investors jumping on tons of deals. For her it is commission's galore. She is very happy!
Gina
Regina thank you for sharing that. Good answer from the agent!
ronzi, There may be so much opportunity in the local market that your re agent/investor sees the potential in working it from all angles. Figure, to flip some of the high-end homes to a retail buyer, it might be easier to make it work as an agent than as an investor with FHA requiring 90-day seasoning on most loans, and then he can also be bringing great wholesale deals to his list of investors.
I have heard that having a RE agent with investing experience is desireable. (Mine had some investing experience, a BAD landlord experience poor thing, so she is VERY happy to help ME out and is NO threat or competition. lol)
But if you feel that you would be in competition with them, like DGadmin said, maybe move on to another agent.
Best wishes in finding a GREAT agent (one of those is worth their weight in gold!)
Rina
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Hi i am looking for a mentor in chicago
An ethical agent with high principles and who is unselfish believing in the golden rule would welcome an opportunity to help another investor even though the agent may be aware it would sometimes be a loss of a property that could have been owned by themself. Winning is caring about others also .. not only all for self!
an agent who's afraid to put their name on their own low ball offers, but wouldn't mind snatching up someone elses accepted low ball offers and keeping them to himself and telling you that none are being accepted, like mine did to me when I first started out, so just be extra cautious. If you do use him just make sure that you see every rejection letter also. That's just my take on it.
Bryant Slade
Lets start a group!I'm looking also maybe we can help each other?