Good evening and happy new year,
I need input on something that seems too good to be true.
I just got off the phone today with an investor-friendly real estate agent in another state (not NYS) who has a whole team behind her and has made it seem as if real estate investing is a much simpler process. I am a beginner investor and I have discussed my investing goals with this agent. I wanted your typical 3 bedroom house (not necessarily 2 bath) which cash flows. She goes on to say that for her beginner investors, she doesn't let them buy over $100k total (including purchase and rehab), she already has a tenant pending for a particular property she currently wants to sell, already has a good relationships with a lender, and doesn't let rehab go over 2.5 weeks.
In terms of property management, she mentioned that she has her own property management company. She is planning on renting out to section 8 and has pacified my worries about section 8 tenants. She just seems to be well versed with dealing with section 8 tenants, which is huge in this area of the United States.
She has already sent me the address of the potential investment property. It is not on your typical zillow/redfin/trulia site as she said it is directly from the seller.
I met this real estate agent on facebook, seems very active within the real estate community in that particular area based on the posts she's engaged with.
The only red flag that stood out is that she strongly discourages flying out to the location and scoping out the property as she said it could get expensive and we could instead use that for a downpayment.
I really would like to invest and just buy my first property already. I just keep hearing over and over again to just take action and course correct from there.
I would like to ask the advice of the community - can I get some viewpoints on how I could double check this lady's work? Maybe I'm already answering my own questions - would it be rude to ask for references from other investors she's worked with? how can I do this without sounding like I don't trust her? Is it imperative that I actually go see the property before I close on it? What else am I missing?
How do you deal with doubt? I also don't want to show any type of distrust towards her as I feel that she is a valuable asset (if she is what she says she is).
I'm really glad that I am taking my first steps, that I spoke with a real estate agent, and that I have the BiggerPockets community to lean on for support.
Thank you,
Richard
