Brand new to Investing in Real Estate
Member since 2023 · 13 posts · 7 votes
Brand new to Investing in Real Estate
Most Popular Reply
Alecia LovelessPro Member
Member since 2019 · 3k+ posts · 2k+ votes@Shawn Erato Hi Shawn. Don't underestimate the value of having a great relationship with a realtor. I'd work on finding one you like in your area if you don't already have one and then setting up MLS searches through him/her. Also follow up some with them somewhat frequently like maybe every 3 weeks to keep you on their mind so maybe when they get pocket listings they will contact you. (If you don't know pocket listings are listings that come into their brokerage before they get listed on the MLS and are often offered in house to the realtors preferred buyers to try to sell them before they have to split the commission with an out of office realtor.)
I’ve been working with my realtor for 25 years as well as being friends with him. It’s paid off very well for both of us. He gets my listings and I exclusively use him if I’m buying something.
12 Replies
- 3yBenjamin AakerPro MemberRental Property Investor · Brandon, SD · Member since 2015 · 1k+ posts · 1k+ votes
Hi Shawn and welcome. Keep looking for that great deal. This is a tough time to invest but good ones still come around. My advice is to make sure you have your criteria very focused and stick to it.
- Rental Property Investor · Lubbock, TX · Member since 2021 · 58 posts · 21 votes3y
That’s great to hear, Shawn. I would recommend networking as much as possible and trying to find a mentor in your area. I would also try to analyze as many properties as possible. The more repetition you get, the better you will become at recognizing great deals in your market.
- Member since 2023 · 13 posts · 7 votes3yThanks for the advice Benjamin
Quote from @Benjamin Aaker:
Hi Shawn and welcome. Keep looking for that great deal. This is a tough time to invest but good ones still come around. My advice is to make sure you have your criteria very focused and stick to it.
- Member since 2023 · 13 posts · 7 votes3yAppreciate the advice Brady!
Quote from @Brady Ferguson:
That’s great to hear, Shawn. I would recommend networking as much as possible and trying to find a mentor in your area. I would also try to analyze as many properties as possible. The more repetition you get, the better you will become at recognizing great deals in your market.
- Real Estate Agent · Charlotte, NC · Member since 2019 · 13 posts · 23 votes3y
That is super exciting Shawn and welcome to Charlotte! Benjamin and Brady are spot on, you have to know you numbers and be persistent. You will find the right deal in time. I am local to Charlotte and will keep an eye out for you on any deals that seem like they might be a good fix and flip opportunity for you. Cheers!
- Member since 2023 · 13 posts · 7 votes3yThanks for the feedback Patrick! Awesome to meet a local to Charlotte and definitely appreciate your help!
Quote from @Pat Rineman:
That is super exciting Shawn and welcome to Charlotte! Benjamin and Brady are spot on, you have to know you numbers and be persistent. You will find the right deal in time. I am local to Charlotte and will keep an eye out for you on any deals that seem like they might be a good fix and flip opportunity for you. Cheers!
- 3yAlecia LovelessPro MemberMember since 2019 · 3k+ posts · 2k+ votes
@Shawn Erato Hi Shawn. Don't underestimate the value of having a great relationship with a realtor. I'd work on finding one you like in your area if you don't already have one and then setting up MLS searches through him/her. Also follow up some with them somewhat frequently like maybe every 3 weeks to keep you on their mind so maybe when they get pocket listings they will contact you. (If you don't know pocket listings are listings that come into their brokerage before they get listed on the MLS and are often offered in house to the realtors preferred buyers to try to sell them before they have to split the commission with an out of office realtor.)
I’ve been working with my realtor for 25 years as well as being friends with him. It’s paid off very well for both of us. He gets my listings and I exclusively use him if I’m buying something.
- 3yMin ZhangBusiness MemberReal Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
Quote from @Shawn Erato:
Hi, my name is Shawn I am 28 and I just moved to Charlotte with plans to invest in a fix and flip property. I am here to build connections with new people like myself as well as all of you professionals. I don’t have much knowledge to offer but would try and answer any questions I can, and would like any advice you all can give to me. I am actively searching for a single family home that is a good deal for my first fix. I am ready to buy at any moment. Look forward to starting this new journey!
Hey Shawn! That's a good idea! My advice is that you should research the local market, set a realistic budget, and have a marketing plan in place to sell the property quickly and for a profit. Let me know if you need any help. ;)
- Member since 2023 · 13 posts · 7 votes3yYour advice is greatly appreciated Alecia! I am currently working with a realtor and she has been great so far. I am actually meeting with her today and will ask about pocket listings.
Quote from @Alecia Loveless:
@Shawn Erato Hi Shawn. Don't underestimate the value of having a great relationship with a realtor. I'd work on finding one you like in your area if you don't already have one and then setting up MLS searches through him/her. Also follow up some with them somewhat frequently like maybe every 3 weeks to keep you on their mind so maybe when they get pocket listings they will contact you. (If you don't know pocket listings are listings that come into their brokerage before they get listed on the MLS and are often offered in house to the realtors preferred buyers to try to sell them before they have to split the commission with an out of office realtor.)
I’ve been working with my realtor for 25 years as well as being friends with him. It’s paid off very well for both of us. He gets my listings and I exclusively use him if I’m buying something.
- Member since 2023 · 13 posts · 7 votes3y
Quote from @Min Zhang:
Quote from @Shawn Erato:
Hi, my name is Shawn I am 28 and I just moved to Charlotte with plans to invest in a fix and flip property. I am here to build connections with new people like myself as well as all of you professionals. I don’t have much knowledge to offer but would try and answer any questions I can, and would like any advice you all can give to me. I am actively searching for a single family home that is a good deal for my first fix. I am ready to buy at any moment. Look forward to starting this new journey!
Hey Shawn! That's a good idea! My advice is that you should research the local market, set a realistic budget, and have a marketing plan in place to sell the property quickly and for a profit. Let me know if you need any help. ;)
Thank you for the advice Min! I do have a question for you. If I have a 250k budget on purchasing a home how high of a price range should I be looking at properties? Should I be looking at properties in the low 300s and offering 250. I see many overpriced homes.
- 3yMin ZhangBusiness MemberReal Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
Quote from @Shawn Erato:
Quote from @Min Zhang:
Quote from @Shawn Erato:
Hi, my name is Shawn I am 28 and I just moved to Charlotte with plans to invest in a fix and flip property. I am here to build connections with new people like myself as well as all of you professionals. I don’t have much knowledge to offer but would try and answer any questions I can, and would like any advice you all can give to me. I am actively searching for a single family home that is a good deal for my first fix. I am ready to buy at any moment. Look forward to starting this new journey!
Hey Shawn! That's a good idea! My advice is that you should research the local market, set a realistic budget, and have a marketing plan in place to sell the property quickly and for a profit. Let me know if you need any help. ;)
Thank you for the advice Min! I do have a question for you. If I have a 250k budget on purchasing a home how high of a price range should I be looking at properties? Should I be looking at properties in the low 300s and offering 250. I see many overpriced homes.
You might want to consider homes listed between 200k to 250k or even slightly below, as that would leave room for negotiation. The final price can depend on factors like the current market, the location of the property, and the home's condition. Avoid looking at homes that are much more expensive.
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