All Forum Posts by: Pierre M.

Jason,

I would want a Realtor to do CMA's and update me daily regarding any possible deals that fit my investing criteria. I would also think that having an experienced Realtor on my side that can spot flaws in properties, just based on their experience. Since I'm still new, maybe have the Realtor give a fair estimate of repairs that need to be done. Of course I know the Realtor is not a Home Inspector, Appraiser, Contractor, Etc. Etc. But I want to be able to ask the questions that can get me a Realtor that will go that extra mile to work for me.

Realtors know properties in the area or at least they should know them. Especially in these times, Buyers can expect that the part-time Realtors have taken other jobs and the experienced Realtors will work harder for their Clients. They should be looking out for my best interest because I may become a streaming source of income.

As a newbie Investor, what qualities do I need to look for in a Realtor? Maybe some experienced Realtors can shed some light as to what kind of service a new investor can expect to receive from a Realtor.

What services should I ask my Realtor to perform without being out of line and actually expect them to perform those services to earn my business?

What are BPO's? How do they differ from CMA's and ARV's?

Looking forward to your input.

Thanks,

Pierre

Loki,

What made you start believing in yourself?

PM

TC,

Did your inspector fail to report termites or you knew they were there but just didn't do anything about it?

PM

I am in a situation where I feel like I need to act now. But I don't want to act too soon.

I know the power of real estate and the amount of money/freedom it can bring. I built my first home with the intention of having a dream home back in 2004. I built it to my specifications with the intentions of living in it. IT WAS PERFECT. Before it was complete I had to move away due to a business acquisition in another county. I had to sell the home of my dreams. Although I was very sad, I realize a tremendous profit in the sale and knew that I could someday do it all again. I used the proceeds as a down payment on my current home. The real estate market has taken a dump and here I am with a loan amount close to full value of my house.

I have been in the real estate business for two years. Learning everyday and looking to build my financial freedom. At this time, I want to keep learning but I feel I should act. I cannot afford to make mistakes especially in these hard times. I think I am making a big mistake by not acting but fear that acting without proper education could ruin me.

Stan,

Can you include the cost involved as you tell your experience?

For example, how much was the inspection costs? I believe this is an out of pocket expense that cannot be included into financing. What other costs have you incurred?

Keep up the good work.

What is the biggest real estate investing mistake you have ever made?

Please share your experience in detail and provide a solution (if applicable).

I'm glad I'm the mortgage guy!!! I need me!!! :D

You are absolutely right. I should start with the team I have and build from there.

Thanks for your help Scott

I found an article that Biggerpo (Joshua Dorkin) posted on biggerpockets titled "Assembling your Real Estate Investing Team" which is a very helpful list of real estate professionals that make up a great team. I am working on that list. I guess I can ask the people in my current list and see who they recommend for the professionals I am missing.

thanks for your advice and thank you Biggerpo for that article :D

I appreciate all the advice.

I didn't know whether to start a new topic or continue with this one. But can someone help me find the second part to my question? I have assembled a appraiser, Realtor, title company, and lender. I am still looking for the missing pieces. Does anyone know how to approach or build a relationship with a good real estate attorney and/or CPA? What questions should I ask to determine their expertise?

Thanks ... Biggerpockets Rules!!!

Pierre