All Forum Posts by: Keaton Smith

@Will Fraser Thanks so much for your insight, what you say makes a lot of sense. I will heed your warning and make absolutely sure the numbers make sense before moving forward.

I am currently in the due diligence period for a duplex that a realtor I work with has been working on getting to sell for a while. I was able to offer a deal that the seller is comfortable with and we have been moving along fairly well. However, due to my ignorance, I am now finding out that the realtor I am working with is also representing the seller as a dual agent.

Is this a common practice in REI to have dual agents in pocket listings? My understanding was that having an agent represent both parties was generally to be avoided.

Thanks for your input!

@Austin Andrews @Parker H. Thanks for the awesome insight, guys! I will be doing exactly as you both suggested, this answered a lot for me.

Thanks @Austin Andrews! Once a realtor finds a deal that might work, would I sign papers with them with a contract that essentially states I'm working with them on that deal specifically, and can work with other realtors separately as they bring deals to me?

Hi all! Basic etiquette question, but if I am targeting a specific metro and am hoping to have realtor help in searching for deals, should I contact several good realtors in the area, let them know my niche and ask if they can keep an eye out for pre-market deals, and then sign with the realtor who brings an option to me, or should I only contact and work with one specific realtor and hope they find good pre-market deals?

Essentially, for pre-market hunting, should I wait to sign exclusive realtor contracts until a realtor finds a pre-market deal, or should I go with one realtor and hope they can find deals?

Thanks so much for the help, if you're willing!

@Matthew Devine Will do, thanks for the insight! I'll be spending a good deal of time looking for the right lender for the job.

@Todd Pultz I really appreciate your feedback, thanks for the insight! I am aware of the position I've put myself in from this thread and am being appropriately careful, thank you for the advice.

I am currently adjusting my strategy to focus on more of a BRRRR approach. It's greatly encouraging to hear that you're finding success, not only for my confidence and momentum but I'm glad you're doing so well!

Thanks for sharing specific details as well, it helps to know the numbers of how deals are actually panning out.

@Francois G. Thank you kindly, I will heed your advice.

1) I listed all the markets that I have as initial target options, however, as in my niche there are over 1,000 current-market options to analyze, I will be picking a few promising options and going from there. From the responses I'm getting here, it seems like the midwest cities are great options to focus on (especially for cash flow).

2) I will adjust my ROI assumption.

3) I am comfortable with rehabbing properties (of course depending on the deal) so the option to use cash, especially for properties that are more difficult to acquire through conventional loans, is worth my consideration.

I would prefer to leverage, I'm just not currently finding good options for initial lending.

It does help shed light, thanks for your insight!

@Marlen Weber Thanks Marlen! I do have some realtor contacts, thank you for checking.

@Matt Stricklen Ha what great advice, thank you for your candidness. I agree on both accounts, and appreciate the support. I'm glad you're set up in Austin! Thanks for reaching out.