Real Estate Investor Interview

[Teri Pegnataro]

Hi All,

I need your help, I am taking a Real Estate Class and have to interview a Real Estate Investor and if you have the time to answer these questions, I would greatly appreciate it.

1. Why did you become a real estate investor?
2. How did you get started in real estate investing?
3. What is your business model?
4. Do you emphasize long-term holding of property or quick-turn buying/selling?
5. Do you have a specialty?
6. What do you look for in a real estate agent?
7. What issues do you run into with real estate agents?
8. What is a big lesson you've learned through your experiences?
9. What tips would you give individuals looking to become real estate investors?
10. What tips would you give agents working with real estate investors?
11. What do you feel is the best type of real estate investment and why.

Looking forward to hearing your answers!

[Bryce Jamison]

1. Why did you become a real estate investor? Because it's exciting, I thoroughly enjoy the process, and I want to retire as early as possible.
2. How did you get started in real estate investing? I bought my first home in 2013 and started renting out the extra rooms. I guess you could say I "started" before that by reading books, talking to other real estate investors, and learning online through websites like BiggerPockets.
3. What is your business model? I currently buy single family homes that I use as long term rentals. My portfolio isn't very large so I self manage.
4. Do you emphasize long-term holding of property or quick-turn buying/selling? I'm definitely a long-term buyer. I want properties that have decent cash flow at the time of purchase, but also have long term growth potential (Yes, they're out there!)
5. Do you have a specialty?  I wouldn't say I have one at this point. If anything, my specialty is putting myself out there and trying to meet and learn from people.
6. What do you look for in a real estate agent? I want the best. Why pick the person in your area who's buying/selling 10 properties a year when you can get the one that's buying/selling 100. The same is true for experience. I want one that's been working in my area 20 years, not 2.
7. What issues do you run into with real estate agents? There's a lot of people that have real estate licenses. During the real estate boom over the last 5 or so years, minus the last 6-12 months, anyone could succeed at being an agent. Now you can see who really knows what they're doing. I only engage with ones that have a proven record of success, but I'd imagine the biggest issue you'll hear is that a lot of agents don't really know how to do their job well.
8. What is a big lesson you've learned through your experiences?  Be patient with selecting renters and screen them very well. Set your criteria and don't budge. If you can't find a good tenant you may need to lower your rent. Also, don't give up. Things are going to go wrong, but keep pushing through. You can do it!
9. What tips would you give individuals looking to become real estate investors?  Consume as much information as you can, and get out and meet people. David Greene (if you don't know who that is you should find out) has a good analogy comparing real estate investing to getting a 6 pack. It's not hard figuring out how to do it, it's actually doing it that's tough.
10. What tips would you give agents working with real estate investors? Help them find the deals that aren't listed on the MLS.
11. What do you feel is the best type of real estate investment and why. There's no one answer for this. The best one is the one you're most comfortable with and makes you the most profit.

Hope this help!