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Updated about 3 years ago on . Most recent reply

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11
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10
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Zack Eastwood
  • Investor
  • Orlando
10
Votes |
11
Posts

Reaching out to brokers for the first time

Zack Eastwood
  • Investor
  • Orlando
Posted

I am a novice single family real estate investor taking a peek into the multifamily realm. I am looking to bud relationships with local brokers, but I don't want to waste their time with my lack of experience. Who should I reach out to on their team to communicate my interests to hopefully build a relationship with the brokerage. I don't want to waste the time of the senior partners with an inquiry, but I also don't know if an "associate" is the right person to talk to. Thank you for any help that you can provide

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99
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69
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Jeff Joachim
  • Investor
  • Orlando, FL
69
Votes |
99
Posts
Jeff Joachim
  • Investor
  • Orlando, FL
Replied

Hey @Zack Eastwood congrats on dipping your toe in the multifamily market. As someone that was intimidated by the thought of even getting started in investing in real estate, with no connections or resources when I first started, I can definitely relate. I've been fortunate enough to go from seeking information, to sharing the information I have learned along the way. The strength of the bigger pockets community revolves around great folks that are willing to take the time to share the information they struggled to learn, so you don't have to. In the same manner, anybody that is worth their weight in the multifamily investing space started with a vision and needed some kind of guidance. Chances are if you encounter someone that isn't patient enough to sit with you, learn about your needs and help you develop a plan as you explore multifamily investing you are talking to the wrong broker. 

To make the best of your time, I would do the following:

1. Take some time to write down your goals, benchmarks and overall vision for transitioning for multifamily. If someone is going to help you, they are going to want to see that you have thought your plan out. Being prepared with notes and clarity is a great way to earn respect.

2. If you are just in the research phase and you are not in the position to purchase that is fine. Just let the broker or associate you are dealing with know, so they can prioritize their time, and don't have any false expectations. Since they would essentially be working for free, being prepared with a clear vision (step 1) will allow them to be more efficient when helping you. 

3. I think BiggerPockets just added a "Find An Agent" tab that may be helpful to you.

I'm a broker and investor here in Orlando that specializes in single family investments, small multifamily projects, and wholesale deals. I'm humbled and inspired every day when people come in and share their vision with our team.

I am not an expert in multifamily, but we have the experience of closing a few thousand single family, quad, and triplex deals along the way.  If no one else is willing to help you, then I'll make sure someone from our team can sit with you, learn about your vision and point you in the right direction, even if it is with a different firm.

Hope this helps!

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