The First Step

[Mark Harris]

For my first deal, I'd like to find a single nationwide lender for pre-approving a loan so that multiple realtors from different markets (and states) will be motivated to find better deals. I'm more than happy to shop a different lender in the local market after i find a good deal. (milwaukee, madison, sacramento, austin..etc)

Does this sound like a smart idea?

[Wes Blackwell]

Hey @Mark Harris, glad to see you're taking the first steps towards building your real estate portfolio.

But as a Realtor, if you wanna do something to motivate us more... give us more money.

Offer to pay a bonus commission on top the buying commission (like a finders fee of sorts) and you'll find yourself being the one to get pitched deals first.

As far as your other plan goes, better agents will develop relationships with 50+ investors and pitch their deals to everyone because we simply want to get paid, no matter who buys. 

We want the guaranteed buy and especially the person who pays the most (or even overpays) as that's how we make more money.

That's at odds with your goals of picking up properties on the cheap, as we get paid less when you pay less. It might be a guaranteed buy and a fast nickel is often better than a slow dime, but most agents won't have the investor mindset and have been drilled by their superiors to get their clients (the sellers) the most money possible.

Also, worse agents will probably bring you crappy deal after crappy deal because you are their only business and they are praying to god you buy something so they can pay their rent. 

You want deals on a silver-platter, not the opportunity to waste all your available time educating Realtors on what's a good deal and what it not.

If you're looking to investing out of state, I would maybe suggest looking to network with "turnkey" providers who find the properties, rehab them, rent them, and even manage them for you.

There are tons of great articles on here about investing out of state and analyzing different market places, so be sure to check those out before you pull the trigger.