All Forum Posts by: Irakli Khakhviashvili

Quote from @Irakli Khakhviashvili:

Quote from @John Morgan:

@Irakli Khakhviashvili

I’ve bought 16 rentals by using the listing agents. I reach out to them and tell them I’m an investor, don’t have an agent and would like to see the house. They now get double commission since they’re representing the seller and buyer so they go all out for me. Many times they give me good intel about the seller’s situation, how motivated they are, work done on the house, previous offers etc. I leverage this info for my offers. I walk the house with them and tell them all my concerns. If I like the house, I text them a few hours later and lob out a low ball offer explaining the expenses needed to repair and update the house to get it rent ready. I’ve gotten all the properties I wanted by doing this except for one that I got outbid. People on here tell me I shouldn’t do this, but it’s worked for me and the listing agents go all out for me including showing me the house asap. Plus all the info they give me about the seller has been very helpful to me.

 Interesting perspective, thanks for sharing! So, you suggest just reaching out to the agent who owns the listing and work with them instead of bringing my own agent? But if the buyer doesn't pay a commission, then why is it a bad idea to bring your own agent? 

Yes, that’s what I’ve done for my last 16 purchases. The communication and intel on the sellers and homes are so much better. That relationship has helped me get some great deals as well as solve the sellers problems better. I’ve wheeled and dealed better this way. Or go directly to the seller if you can. 

@Irakli Khakhviashvili

I’ve bought 16 rentals by using the listing agents. I reach out to them and tell them I’m an investor, don’t have an agent and would like to see the house. They now get double commission since they’re representing the seller and buyer so they go all out for me. Many times they give me good intel about the seller’s situation, how motivated they are, work done on the house, previous offers etc. I leverage this info for my offers. I walk the house with them and tell them all my concerns. If I like the house, I text them a few hours later and lob out a low ball offer explaining the expenses needed to repair and update the house to get it rent ready. I’ve gotten all the properties I wanted by doing this except for one that I got outbid. People on here tell me I shouldn’t do this, but it’s worked for me and the listing agents go all out for me including showing me the house asap. Plus all the info they give me about the seller has been very helpful to me.

Quote from @Irakli Khakhviashvili:

Quote from @Ryan Tessier:

Most listings have their own agents and in CT they can help you write your own offer and walk you through the transaction(Dual Agency). But do you really want your agent and the sellers agent to be the same person? It is usually considered a conflict of interest, having your own agent represent you usually pays out dividends when negotiating an offer and actually getting it accepted, plus their expenses are paid by the seller so its free for buyers. 

Your agent should be helping you identify these properties and contact the listing agent on your behalf once you're interested in seeing them. Your own agent should be your main point of contact in the transaction so you can get the most value out of their services.

Thanks for sharing this. I am starting to understand how important it is to have your agent on your side. 

 THE LISTING AGENT. thats the key. You are doing all the work, you are the one on Zillow and others, you are the one finding the property, You do not need an agent showing up, again that knows nothing about the property and cost you money, Deal with the listing agents.

Good luck 

Most listings have their own agents and in CT they can help you write your own offer and walk you through the transaction(Dual Agency). But do you really want your agent and the sellers agent to be the same person? It is usually considered a conflict of interest, having your own agent represent you usually pays out dividends when negotiating an offer and actually getting it accepted, plus their expenses are paid by the seller so its free for buyers. 

Your agent should be helping you identify these properties and contact the listing agent on your behalf once you're interested in seeing them. Your own agent should be your main point of contact in the transaction so you can get the most value out of their services.

I think that the right agent is worth their weight in gold. If they know your strategy they can really help you get the perfect deal. Also I have had lots of great agents share their contacts with me for contractors, property managers, etc. that I wouldn't have had access to without them. But you for sure don't want to just go with the sellers agent.

Hey Irakli Khakhviashvili

Good question, there are typically two agents for each transaction. The sellers agent and the buyers agent. The sellers agent is the agent who lists the property for sale, this is the name that you see on Zillow, Trulia, etc. The buyers agent represents the buyer and submits offers to the sellers agent.

@Irakli Khakhviashvili

If a property is listed on the MLS; send the address to your agent and they will handle it from there (setting up appointments, making an offer, etc.). Usually, on these platforms you mentioned, they list several agents who are paying to be listed there (and are usually not the listing agent). You normally are not connected to the listing agent directly when you request a tour or more information.

Quote from @Jordan Moorhead:

@Irakli Khakhviashvili I would find a mortgage broker that understands househacking. I've had terribly bad luck with househacking clients and local banks or national banks. If you find the right loan broker than knows househacking with FHA loans you'll be in great shape! @Tim Swierczek do you know anyone in CT he should talk to?

@Irakli Khakhviash Please PM me and I will connect you with a House Hack Lender in CT.

 

@Irakli Khakhviash

@Irakli Khakhviashvili I would find a mortgage broker that understands househacking. I've had terribly bad luck with househacking clients and local banks or national banks. If you find the right loan broker than knows househacking with FHA loans you'll be in great shape! @Tim Swierczek do you know anyone in CT he should talk to?