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Updated over 8 years ago on . Most recent reply

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102
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Jeremy Karja
  • Rental Property Investor
  • Elk River, MN
10
Votes |
102
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Should I use multiple agents? What about a very close friend

Jeremy Karja
  • Rental Property Investor
  • Elk River, MN
Posted

I am new to investing.  My plan is to invest in as many rental properties needed to generate 10k of income within 3-5 years.  My question is should I use multiple agents to find me deals?  The caveat is like most people I know many with real estate licenses but also I have 2 VERY close friends who have their license but work only part time (like 10 deals a month) and do not specialize in rental properties and also a couple other not as close friends who may be a little offended as well.  At the end of the day my business and family are priority.  The plan is if I use multiple agents then I would ONLY do the deal with the agent who brought it to me.  What should I do?  Thank you in advance for any response.

Most Popular Reply

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464
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311
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Christopher Giannino
  • Real Estate Agent
  • Hamilton, NJ
311
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464
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Christopher Giannino
  • Real Estate Agent
  • Hamilton, NJ
Replied

I don't think you should use multiple agents unless you are investing in different geographical areas, meaning you plan to invest in other markets outside your own. If you form a relationship with just one agent and use them exclusively I feel as if you will get better results. Remember.. agents only get paid once a deal closes. If I'm and agent and I know you are working with 5 other agents, I might not spend as much time with you because I know there's a chance I'm wasting my time.
As for using your friends with licenses, it could be a beneficial partnership but it could also be a disaster and ruin a relationship. Personally, I'd rather not chance ruining a friendship so I wouldn't mix the two but that's just me.

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