All Forum Posts by: Adam Nash

Thanks for the advice @Bruce May . That's certainly a strategy I've considered. I was interested in purchasing a new construction duplex about this time last year, but since it was my first deal, I was a bit nervous, took too long, and someone else purchased it (for a price I thought was too high). 

So far, I've always rented the apartments and homes I've lived in. Some of my goals for 2015 were to purchase my first home and begin my real estate investing career. I currently live in a house that is probably out of my price range to purchase. I am able to pay the rent because of roommate(s). However, I'd hate to have to downgrade when purchasing my first home. I would like to possibly continue renting and use profits from investments to some day be able to afford the larger down payment and PITI.

Any advice from people who have faced this scenario? What did you choose and why?

Thanks @Bryan N. 

I have a few agents sending MLS listings automatically to my e-mail according to my selected criteria. Is this the main way they will "bring deals to me"? I suppose once I do some business with them and develop a rapport with them, they might be inclined to let me in on something before it hits the MLS??

Part of the reason I lost my first deal last year (before I found BP) was because I called the phone number I saw on a "For Sale" sign in front of a new construction (still being built) duplex. My plan was to live in one unit and rent out the other. In my initial discussion with the realtor, I asked her if I needed an agent and she said "No, no I'll represent you". I wondered if she was doing this to collect both seller's AND buyer's fees/commissions. Then I began to think "How can she simultaneously keep my best interests AND the best interests of the builder/seller in mind?" I determined that 10 times out of 10, she would favor the homebuilder/seller with whom she had a 10 year relationship with. This was especially apparent when I consulted with her on what would be an appropriate amount to offer for the units. She would say things like "You don't want to go too low and insult the builder". This is completely opposite of my new favorite quote "If you're not embarrassed by your offer, you offered too much"!

I drug my feet too long and the property got snatched up by a 1031 exchange. I believe they paid exactly what the builder was asking, which may have even been higher than appraisal. Obviously money was not as much of an issue for them as it was for me.

So long story long, how do I find an agent who will work for me and only me? When I go to open houses, I'm assuming I'm dealing with listing and/or selling agents. Could that same agent that I meet at the open house turn into my buyer's agent on another deal? I would want to make sure that they don't just show me other properties that they're listing or selling, right? It seems like most agents can wear all three hats depending on the deal.

Thanks in advance for any input.

-Adam

Thanks @Larry Fried !

@Gene Hacker , Lake Isabella is a great place! I'd like to spend more time there. I was in Kernville last weekend for Whiskey Flat Days. I went to my first Bakersfield FIBI earlier this month and am looking forward to going again in March.

Hey everyone! I'm a San Diego native who moved to CA's central coast (San Luis Obispo) for four years in college and found myself in Bakersfield for work about 3 years ago.

I've been snooping around BP for a few weeks now and listening to the podcasts on my way to and from work. I'm almost overwhelmed by the wealth of information here....it's exciting to discover new ideas daily though. I'd like to take action on some of the many things I've been researching lately.

My goals for 2015 include: purchasing my first primary residence home, establishing the right business entity (LLC, corp?) for my RE investing, attending my local FIBI meetup each month, and completing my first (hopefully multiple!) real estate transaction(s).

Thanks for reading!

-Adam