Where are all the realtors?? Need to hear from you on this....

The majority of realtors get a listing agreement from a seller, list the property on the MLS, put a sign in the yard, maybe do an open house, maybe show the house themselves a few times, it sells they get their commission and that's all they do, period. Finding a true investor friendly realtor that actually understands what we do is one of the great challenges in this business. Most have no clue! That's just the way it is.

Good luck!
Michael Mangham
MD Home acquisitions LLC

Agents cannot be wholesalers. If I were to put a property under contract, then assign the contract to another buyer, I would be doing a disservice to the seller, who is paying my commission, and to the buyer who I should be representing as an agent. This is just not ethical. I can represent an investor who is looking for a cash flow property and collect a commission instead of a markup. Most wholesalers do not buy properties from MLS listings. I don't think an agent could make any money trying to find properties that would wholesale. There is not enough return for the time and money spent. I have tried this with no success.

There is absolutely nothing wrong with an agent buying a property lower than value directly from a seller as long as they disclose and dont create agency.

An agent can take a net listing although most Boards frown upon them.

I think most agents think that what we do is shady or illegal or really hard... All of which is untrue.

MI Realtors sit in a CE (continuing education) class and listen to an expert (RE atty, usually) recite the newest case law that got Realtors, buyers, and or sellers in deep doo-in's. I wonder if that fosters fear more than it does continued learning.?!

I believe you're right Dana. Most realtors think investors are shady people looking to steal the properties and screw everyone. I've talked to several realtors down here in So FL and they have all had that same attitude. I did find one that is actually an investor as well so he understands what we need. But it's tough finding someone like that.

I am new to this program.
I like it alot so for .
My goal is to be an investor.I believe this program will help me to get to that point much faster.

Most agents that I know, who have been active for a few years, invest in Real Estate. Real Estate agents soon learn that there are many ways to make money with Real Estate other than collecting commissions. They purchase cash flow properties, buy and hold, or flip properties. In all cases they take ownership of the property. They do not do contract assignments. I have purchased several properties. I have rentals, vacant land and agricultural property as well as a vacation property that I am considering using for weekly rentals. Agents understand investors. I believe that every purchase is an investment.

I know of a realtor who has a listing that's been out there for months. The buyer can't sell it due to not enough equity. They are basically upside down. To me, that's the perfect shortsale or Lease Option opportunity. However, she's not considered it. Instead she says, well they're going to have to do something or may lose it, I don't know.... How does that help your client???? I believe it's selfish and lazy. I know the popular thing is to say that they just love helping people, but you have to be able to afford to help people in the real estate industry, if this is your fulltime profession. Well, in this situation, a shortsale or a lease option is a way to do both. I just don't quite see how that could be considered as unethical an any way.... Now there is a line that we must not cross, but there are many situations that are no way close to that line.
Anyway, I guess it just leaves more for us!!

Every agent and broker at my spot is an investor and has no less than 3 homes in their possession and 95% of their clients are cash buyers. Real Cash buyers. We often have wagers on who can do the most deals in a month. I work with sharks. You don't want to work with guppies.

We always deal with contracts and most other agencies I know have separate businesses that strictly do the purchasing and flipping of properties so its not an ethical issue. Doing this also gets you a check faster.

It all depends on who you work for and the mentality of your broker.

The listing agent should have presented all the legal options to the seller. The final decision is with the seller. If the agent did not do this, then they were not doing their job. Write an offer asking for a short sale, lease purchase, or lease option. The listing agent would be required to present the offer and explain it to the seller. If you are going to make a lease offer, the monthly rent would probably need to cover the mortgage payment to be considered. Some Brokers, mine included, discourage short sale listings because of the liability issues that are beginning to surface.

I would write an offer for a short sale or L/O on that property and see where it goes