Advise for new Investor/Realtor

[Jennifer Lee]

hi BP

I just posted this on a reply, and I have been meaning to post this on my own posts

The question was any advise for future investor/new realtor?

I am no longer a new realtor, I am going through my 3rd yr now.

Here is my 2 cents:

-----------------------------------------

1. Go to your local REIA and talk to investor.

2. Start networking with not only investors but contractors, attorneys, insurance, lender and vendors etc,

3. Offer to be their KEY  and Tag along on their home previews, ask questions,

4. Help them with free CMAs, or searches on MLS

5. Put in any offer, even if you know it won't be accepted, it will get you used to your systems, and learn negotiating skills for the real deal! The thing is the investors are also thinking it's a long shot if low balling. So just use any opportunity to practice real estate

6. Search MLS for VACANT or CALL first and preview homes, see well staged home, and see TLC homes. Test your rehab/renov detection skill (bring seller disclosure)

7. Be friend a contractor, pay him to go through a Foreclosure, learn the cost of renov in your area.

Working with Investors is also a good way to get to know the MLS system to search. They may not buy, you may not earn a cent from them, but you get experience and can learn the tools of your trade. It will take you, say ,1 hour to do your first offer, search etc. and once you have the template, next time you need to put an offer in, it will take you mins ;p

Go to any training your broker have you do to polish your realtor side.

For me it's all about collective learning.

When you meet buyer/seller whether investor or retail, ASK

1. WHERE DO YOU LIVE NOW?

2. HOW IS YOUR MARKET?

3. HOW IS YOUR SCHOOL?

4. WHY ARE YOU SELLING/BUYING?

5. WHY DID YOU CHOSE THIS (new) AREA?

6. OH, YOU ARE A LANDLORD TOO? WHAT IS RENT? WHAT IS YOUR TENANT POPULATION!

Hope that helps