Thoughts on investor friendly agent?

Question

Hi All,

I'm an agent here in New York City, I'm thinking about transitioning my business and working primarily with investors to find and submit deals for them.

Is an investor friendly agent a thing here in NYC?

I will like to know your thoughts!

Yosy (Jay) Kaidar · Answer

Hi Spencer and Iverem,

I am an investor/cash buyer working in the Bronx for several years.

I would be happy to work with you guys.

Feel free to reach me for any question and help.

Yosy Jay Kaidar

Yosy (Jay) Kaidar · Answer

I agree with Ceaser

Most of the leads are for end users price wise and condition.

When you encounter with a distressed property, Property that needs a lot of work or seller is short in time then Investor/cash buyer is a great solution.

In most cases I can close in a few days.

Yosy J. Kaidar

Ceasar Rosas · Answer

@Spencer Trotman

Hi Spencer,

I hope all is well. It's great to work with investors. The way i work with investors is when I have a deal come across my table I will let them know what I have and let them place their offers. As an agent though, if you only work on deals for investors, then you may be leaving money on the table. Out of every 10 sellers you find that want to sell, maybe 1 will work for an investor. It's just the market is calling for more deals to be sold at retail. Definitely keep in mind working with investors, especially if investing is what you want to do, but in my opinion, as an agent you will want to keep your options open to retail deals. I hope that helps.

Iverem Rose · Answer

@Spencer Trotman

Most agents I know in NYC will say they are investor friendly but they dont even understand the importance of NOI or cash on cash return.  Deciding to work with investors is a smart move especially now that the BRONX is officially burning with interest from investors. As you probably already know, NYC is rapidly becoming the city for the haves with little to no space for the have-nots. Its become too cost prohibitive for a regular person making a honest income to buy a home. Therefore, you will almost have to cater to the wealthy investor because they can afford to pay those prices

Diane Manders · Answer

Hi @Spencer Trotman.  I think it depends quite a bit on the types of properties you work with.  I am a lover of ugly homes and rehabs so I deliberately chose an REO brokerage to work for and then working with investors followed pretty seamlessly as they are my main market.  So go with what you like most and best of luck!

Spencer Trotman · Answer

@Ceasar Rosas

Hi Ceasar,

I hope your 1 flip a month is going as planned!

Thank you that helped out a a lot. I guess i'm trying to figure out how to prioritize my time, so I can work with retail mainly, as well as dedicate efforts to investors, because investing is what I want to do.

Spencer Trotman · Answer

@Iverem Rose

Yes I live in the Bronx so that was going to be my primary focus when it comes to investors.

Have you had any success in finding a deal for an investor? If so, how was the process working with them?

Rolanda Eldridge · Answer

Since, I started investing first, investors are good to work with.  They know exactly what they want and can close quickly.  Usually 2-4 weeks..

Buyers/Sellers require more time, but I like educating them on options and negotiating on their behalf.  The process takes 30-45 days.

I'm having fun, but it keeps me busy..

Spencer Trotman · Answer

@Rolanda Eldridge what has been your experience on both ends?

Thoughts on investor friendly agent?

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