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Updated about 4 years ago on . Most recent reply

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Marvin Michel
13
Votes |
17
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New Investor here: How do I find deals if I'm out of town?

Marvin Michel
Posted

I'm a real estate agent in Brooklyn working primarily in rentals. With Biden potentially cancelling student debt next year, I am finally ready to seriously begin dipping my feet in investing. My plan is to buy 30-60k all cash, and another 30k rehab, and to either Flip or BRRRR. My question is about finding deals. I can't afford anything in Brooklyn, so my only go-to is using Zillow to scout markets near and far. I haven't been very successful getting anywhere thus far; most of the agents I reach out to either don't respond, or they tell me the property is no longer available, and when I ask them to keep a look out for me, they flat out refuse saying the commission they'd earn would be too low to be worth their time. They also seem to get a little stand-offish when they learn I'm a RE agent myself.

What do I do to really get serious about finding deals? What resources are available to me? If it helps, I was looking in South Jersey or Philly area, Baltimore, or further west into PA or OH.

- M   

Most Popular Reply

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127
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91
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Andrew Zannotti
  • Killeen, TX
91
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127
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Andrew Zannotti
  • Killeen, TX
Replied

@Marvin Michel I would recommend identifying a specific market you would like to invest in and find the real estate agent in the area that is an investor himself/herself in that market because they will already have a good understanding of what your needs are and and they have resources and deals (off market included) readily available. While deployed earlier in the year I did research and picked to look at Columbus, Ohio. I found an agent that checked those blocks and brought every resources needed to put me in the best position to succeed. Unfortunately, I kinda ran into issues while gone and wasn't able to close on a transaction but it was more work related to where I was and has nothing to do with the agent. Now that I'm home I've been going really heavy in my own market. If you are looking at Columbus I have one of the best agents I've worked with to refer you too.

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