Do I need to find realtors?

Question

Soon I want to start finding houses(Houston area) that I can buy and hold so I can start getting some cashflow. Do I need to start calling up realtors in order to do this? Or can I simply visit websites like ''My house Deals.com'', MLS.com to find those great deals?

Account Closed · Answer

Thanks for the advice David, so on Har.com this is where I can find all the realtors that I ever need?

Tommy Desmond · Answer

Realtors have limited motivation trying to find you majorly discounted deals. The lower the purchase price, the lower their commission. Unless you have a track record and they can count on quantity of purchases from you, they probably won't play ball.

Also, the agents have reputations amongst each other. If an agent gets a reputation as someone who lowballs offers, other agents may just start ignoring their offers.

If the market is a solid sellers market with low inventory, there's even less incentive for the agent to submit lowball offers they know won't get taken. If an agent is also an investor, and they understand a real deal when they see one, they're not just going to hand it away for a commission, they're probably going to try wholesaling it. Why make $1200 off a $50k house when you can wholesale it for a $10k finders fee?

For the most part, no, don't expect to get agents to find you real deals unless you're planning on doing a volume of business with them.

Account Closed · Answer

Shay,

If you are a cash buyer and can closed real quick with no contingency realtors will help you.

Joe Gore

Ben Hughes · Answer

Good luck finding a realtor to help you find deals.  I've talked to a bunch and tried to explain to them how investing works and none have gotten it yet.  They think if you they find you something 5K off of market value that is a deal.  I like My House Deals too but the problem there is that wholesalers mostly put all the numbers in there favor and get mad if you don't agree with them.