First Investment Home

[Brooke McGilvery]

I am in need of assistance. I have found my first home to invest in located in a college town but I don’t want to use a realtor and I don’t have much cash. I’ve researched other ways of investing but I need help starting out. Can someone please assist? Thanks.

[Brian Schmelzlen]

@Brooke McGilvery,

I think you should reconsider not wanting to use a realtor.  On the buying side, it is free.  The seller typically pays the commissions on both sides of the deal, and you generally wont get a discount for not using a realtor (unless the seller isn't either).  What I believe generally happens is that the seller's agent would get double the commission.

Even on the selling side, I would use a realtor.  My belief is that a good (even decent) realtor will sell the house faster and for more than you would be able to do yourself.

Now, if you are truly interested in not using a realtor, don't have much cash, and are looking for alternative ways to invest you could consider becoming a wholesaler (and as you build up your saving keeping some of the better deals for yourself).  I think wholesaling is very difficult in general and particularly difficult now given the current real estate market, but maybe it would work in your area.  You should do some research into it if that appeals to you.