All Forum Posts by: Rachel Graves

@Jonathan Taylor Smith Gosh! If an agent is doing that being deceptive then I am sorry! That should NOT happen. Ever. When I work for my buyers I am doing just that - working for them to get the best possible deal and solid contract on their terms.

@Tracy Schulz Parr’s of Mississippi fit that criteria. Single family homes and multi family. It ranges depending on the town.

I would try. Set a limit. If nothing works and there is not an “Ah ha” moment of clarification then sometimes you have to decide how valuable your time is.

@Shimeka Williams WOW! There are some great points and comments in this forum! I am an agent. I do NOT invest because I am NOT at a point to do that financially yet. However, I have had experience and I have educated myself on investment properties.

I think it is a fair assumption that as in ANY profession there are good and bad in everything. The KEY is finding the right agent for you!

I also would like to say it seems some may be dealing directly with the listing agents which places them in a dual agency relationship. While we as agents (depending on the state) are told of our fiduciary duties we owe to each client in a dual agency- no matter what it is a slippery slope. So I would always recommend to find a good buyers agent. It cost you zero dollars!

The other comments were based on agents not wanting to “do as they are told and not offering discounted prices when asked due to looking bad”.

This is an issue that needs to be addressed and also can be one that may differ depending on the agent. I as an agent will do what my clients ask of me as long as it’s legal. HOWEVER, I also ask that my clients trust me and my professional knowledge of the market.

Ex. A home that is listed on MLS in a desired location, homes are selling top dollar and closing within 40 days. There has been 15 homes close in the last year in this area at $90 a sqft. The new listing is listed at $95 a sqft. The home is similar in every way as the other homes that have sold. As I look for things to discount prices on there are not many. If my investor wants to make an offer on this home for $65 a sqft. After I have given them the comps and explained the market then I would be reluctant to do that. Yes. It hurts our reputation because the market says "That is NOT going to happen." We will get rejected over and over doing that. In a hot market you can not make low ball offers when there is absolutely nothing to discount for.

My suggestion would be wait to see if it stays on the market for 3 months or longer then revisit. If it sells before 3 months then they are going to be getting close to their asking price. If it doesn’t we may have a ball in the game. My next suggestion would be for me to find a property that can account for that discounted amount and fits my clients criteria. The thing to understand here is that the sellers have a listing agent working for them. Why would a listing agent at ANY point that represents their seller and knowing their house can bring top dollar would suggest they take a 20%+ discount????? There is NOT an listing agent out there that would do that! See the battle we are up against ? So always keep that in mind.

Now I’m not speaking on a property that is justifiably worth a discounted offer. Say the home has been on the market for 150 days. Maybe it needs a new roof. Maybe it needs a little updating or cosmetic repairs. Those are the ones that are not and will it be included in my example.

Essentially, working all the kinks out and respecting one another is imperative and overall more effective in helping everyone. The client and the agent.

Anyway. This is my perspective on it. We all have our own. I know I fight tooth and nail for my clients but my clients also respect my professional knowledge in my market. Therefore we communicate and understand one another. That always accounts for more deals for my clients and closings for me!

@Jared Smith Question. Does the Realtor represent the seller?

@Carlos Soto I am not in your market HOWEVER I will put my two cents in on what I know my market to be which I'm sure is similar in other markets. I am a realtor and I am happy to work with ANY investor. First and foremost each investor is different and looking for properties that meet their portfolio and financial needs. True. Most properties listed on MLS are not the deals of the century however there are ALWAYS life events that occur that will push one to sell even if they do not think they want to.

Working with the diversity of investors I have found I change my strategy for finding them the property they are looking for off market. With that said, this is a slow process. I have to do a lot of marketing, digging, records look ups etc.

Some say don’t go to a realtor but my clients Realize the advantage of using a realtor to save them time, protects and negotiates for them, and money. That is IF you find a realtor that is willing to do the work and be creative in finding the property for you.

I also agree with a comment before that the current market is NOT what it once was and expecting to get the same types of “deals” as quickly and often are in fact an issue and not realistic. However, real estate is an investment that appreciates with proper care, it can make you money if you diversify your portfolio, you may have to invest in multiple properties to gain the cash flow you want etc.

Some have unrealistic expectations for today and our current market. Some want to spend $200k to $800k on a 80-100 unit building with a cap rate of 8-9%, they do NOT want to accept vouchers, and they do NOT want to use much money for rehab... Given the state of the current market this expectation in MY market is slim to none. Therefore they have to revisit their numbers and look for other ways to gain the cash flow they are wanting and to reach more realistic goals.

Like I stated. This is knowledge for my particular market. Of course in other areas this may not be true.

Good Luck. Be patient!

Originally posted by @Darius Anderson:

@Rachel Graves i briefly looked into the market in Mississippi and there were great properties i do need to however connect with wholesellers , realtors, investors and like minds to elevate my network open the market alot more aslo i need to know more about the cities and areas by the class and quality of living so i can narrow down the searches i been diligently looking and analyzing the statistics however its better having a contact that knows the area you know.

 @Darius Anderson I would be happy to assist you! 

Hello everyone! I am a Real Estate agent with RE/MAX Marketplace in Madison, MS. I also am a beginner investor (very small). I am dealing with a lot of investors whom are wanting multi family units here in our state. I have found that the particular ones I am working with seem to want an unrealistic cap rate. I know some investors are wanting distress properties to help push them to that cap rate once rehab work is completed. However, there are not a lot of distressed properties available (even off market). At least not as distressed as they would have hope to make the overall numbers work. If anyone would like to help explain to me coming from an investors point of view how sticking with just a particular cap rate that isn’t happening in a particular market benefits anyone? The properties some look at are 100% occupied units, free property management, and has a decent cap rate. Overall when you run the numbers it’s a win on these properties. However, being that the cap rate alone isn’t what they want then it is immediately turned down? Any input on this would be greatly appreciated!

@Darius Anderson I believe every state has its pros and cons. It depends on what exactly you are looking for. I am in Mississippi and it has been a great place to invest. Taxes are lower in most parts. There are multiple cities with large universities where housing available doesn’t meet the demand.