How to find my first deal???

[Clayton Swansen]

Hi everyone! I am brand new to the world of REI, but I am devouring BP podcasts, and reading everything I can get my hands on to get started. I am currently working with an agent to find a duplex, or other small multi-family up in Bellingham, WA. The issue is that the listed MF's are way overpriced, and as such there is no way I can rent at even a modest profit. These are the only ones my agent has brought me. Is it better to start canvassing neighborhoods on my own, and direct mailing, and forget about the agent? My original thought was that it would be best to go through this process with a knowledgable agent by my side for my first deal. However, everything she has shown me has been so out-priced that I can't even consider... not due to a high price, but the fact there is no profit to be found in those numbers. Any advice for the new guy?? Thank you in advance!

[Aron Vesper]

Hey Clayton,

I am in the same situation as you. I thinking finding something with good returns in Bellingham is tough. It seems as though most people are relying on appreciation. It's probably worth considering other markets (Blaine, Ferndale, Mount Vernon).