All Forum Posts by: Jerome Harrod II

Whew! If I was the average agent, I wouldn't have the guts to post here after reading the replies LOL. A lot of good tips here, consistent Direct mail marketing to out of state owners is definitely a good way to get off market deals, not my favorite, but it works for anyone with an outgoing personality or a good script. But above all else, as someone said above, What your goals are will determine what a good deal looks like to you. I serve mostly Landlord investors, but I suggest that aspiring rehabbers aim to buy one rehab and resell deal every year or 2, make 15% to 20% of that markets ARV, based on a 60 day turnover as profit. That's a great conservative newbie model that doesn't break the bank or your day job schedule while you gain experience. Currently on the MLS, there are 3 potentials in Green Haven, Pasadena alone that fit into that model. So as you see, your goal determines your deals, but you have to do the work to establish what a good project looks like based on your current goals and financing. I'm an active investor agent here, so in addition to those here, free to reach out to me with any questions.

Hey there! Welcome to BP.

I can feel the excitement and I'm happy for you! I'm 24 years old and I'm just happy to meet other young people in this business! LOL

If you listen to a lot of these podcasts, you know First things first is to build a team.

I'm an Investor Agent out Pasadena, MD that works in Anne Arundel County. Feel free to reach out to me as well if you just want to chat or need help finding other team members like lenders. 

There are deals all around here, especially in Pasadena, MD market. 

Originally posted by @Russell Brazil:

Originally posted by @Jerome Harrod II:

Originally posted by @Russell Brazil:

I dont use scripts or elevator pitches.  In fact Im sort of the opposite...Im selective about who I work with. Im not trying to sell my services to someone, but rather finding out if the other person is worth my time to work with.  I think if you turn things around, and have that mind set it will help you grow your business quite a bit.

 I can respect that. I was just wondering about good ice breakers you use when networking, how you guys present yourself when asked the inevitable "What do you do". 

 I dont need an ice breaker when people ask me what I do. "Im a real estate agent and investor"....then they have 1,000 questions to ask me.  Everyone I meet wants to ask me about the market, or do you flip houses, or do you hate being a landlord etc.

 That's great. Sounds like you've been around the block and got everything covered. I guess just saying "I'm a realtor and investor" alone doesn't match my style. I kinda want my intro to have a kick that gauges interest since, I'm the new guy and everyone knows a realtor and/or investor. You know?

Originally posted by @James Green:

@Jerome Harrod II that's not lame!! It works for me everytime I'm at a rei meetup in Lanham or any meeting I go to. Here's mine - "Hi my name is James Green, I'm a wholesaler! I cover NoVA to Baltimore" I get cards are criteria every time from cash buyers, investor friendly realtors, and other area wholesalers.

 Thanks James! I like yours too. Short, Sweet, and Effective.

Originally posted by @Chris Soignier:

I think you need to pick an approach that fits your personality. I love going to REIA meetings to network, learn, and meet interesting people. Some of the more aggressive folks at these meetings turn me off, so I don't want to be one of those people. I introduce myself, and it will usually come out that I'm an investor and realtor. Most of my investor clients have come from a combination of people liking me and/or demonstrated proficiency in what they want to invest in. Build relationships, and business should arise from them. I know, many agent coaches would argue that's way too passive an approach. Then again, I got my license to augment my investing business, not to become a top producer.

 Yeah, I don't like overly aggressive people at meetings either! I just want to state who I'am and What I do in a concise but interesting manner that encourages conversation. I like your style, so your not alone. I myself call that "passive" style, being "relational".

Originally posted by @Brandon L.:

@Jerome Harrod II as always I think @Russell Brazil has some god advice. In my opinion a normal conversation where you ask questions that let the other person talk a majority of the time will get you more results than hitting someone with a canned speech. In my own opinion an "elevator pitch" is better suited for a product you want to sell as quick as possible because the potential customer is about to run away as soon as the elevator stops. Real estate is more about relationships that are built over a period of time. 

So if you're at a meeting and you overhear me talking about MMA, and you are genuinely interested in MMA introduce yourself, and start talking to me about it. Then I'm instantly going to think you're a cool guy, and eventually the conversation will get around to business and you can find out if I'm even someone you want to work with. If you don't want to work with me, no problem, you still leave the conversation with me thinking you're a good guy. Hope that helps :) 

 Thats cool thinking! While the goal was more on gathering ideas on how to introduce myself rather than selling myself, you do have a point.  Relationship first, Business will come naturally.

Originally posted by @Russell Brazil:

I dont use scripts or elevator pitches.  In fact Im sort of the opposite...Im selective about who I work with. Im not trying to sell my services to someone, but rather finding out if the other person is worth my time to work with.  I think if you turn things around, and have that mind set it will help you grow your business quite a bit.

 I can respect that. I was just wondering about good ice breakers you use when starting the conversation, like how you guys present yourself when asked the inevitable "What do you do". 

Hey BP,

I'm looking to update my "elevator pitch" for REIA Network Meetings and I'm in need for a couple ideas if you don't mind helping me out.

I'm no slick city speaker and I'm a way better email speaker, so here's my present elevator pitch:

"Hey there, I'm Jerome, an Investor Agent helping new and old investors make money out in Pasadena Maryland. Nice to meet you. What's your name?"

and that's it. Lame, I know. So, What do you say when networking? Join the fun lol

If I'm following this correctly, I would say you are not looking for a "Realtor" as a real estate agent , but a "Realtor" as in real estate consultant. It looks like You find deals just fine, which is an agents job, so move to finding a Realtor with a real estate consultant designation. They will help in the analysis better than a plain agent, but it will cost something. Finding an agent that gives free off market deal hunting and property consulting services with no promise of compensation is the same as the wholesaler hunting for the "motivated seller" among pretty houses in expensive neighborhoods. You will go thru hundreds of agent leads before finding someone good for the moment and it never means they are" investing savvy/ investor friendly." Most problems come when people try to dodge fees. Investors have misused agents many times baiting with the whole "help me for free and maybe I pay you a fee" way of acting. Which causes many agents to be defensive, unmotivated, or deny work with investors. So in conclusion.... TL;DR - Stop looking for an real estate agent and hire a licensed real estate consultant to be on a monthly retainer or some type of flat fee. It's easier for you and all parties involved. Just my 2cents.

There is a book I'd like to recommend:

"Real Estate Investors - Clients for Life by Fred Tichauer"

This is the Starter book I used, coupled with the CIAS certification I'm pursuing, to get really into the Investor-Agent game and I'd recommend this path to anyone else interested in being an Investor-Agent.

I have a few choice words about the crappy "investor to agent relationship" ideas currently being pushed around here and in the industry in general, but while I'm no 50 yr real estate veteran, I can say that these resources will give the new and experienced agent a better structure to achieve a healthy investor based business. 

Just my 2 cents, good luck. =D