Agent2Agent in 11232>Question Details

Alopez, Real Estate Pro in Brooklyn, NY

Hi, I'm a real estate agent in New York, rentals. I would love to begin the field with cash investors, where should I begin?

Asked by Alopez, Brooklyn, NY Fri Jul 12, 2013

Help the community by answering this question:

Answers

4
The cash investors won't just be sitting on a waiting list looking to work with you, that is for starters. In fact most investors I have come across tend to stick to the same agent for years on end. The only time I have personally come across any is when said investor and realtor no longer have a good relationship. They sort of break up. Split if you will... and the investor seeks out new agents. It's really a luck of the draw sort of thing.

The best way, in NY for me to gain new cash investors is to just advertise the heck out of your area. I foot farm- place ads on door knobs, etc etc. Holding open houses has also helped me meet new investors.

Good luck- and best wishes to you
0 votes Thank Flag Link Sat Jul 13, 2013
The real estate industry in New York City is a different animal than anyplace else in the country.
If folks don't understand that, they could end up believing all those real estate reality shows are real.
-
You very first step, as Lewis suggests, is to meet a few cash investors and inquire about the ideal property they will buy today. You may get them to share how they locate most of the property they do buy. Then ask about their exit strategies. Yeah, I know, that a lot of questions to be asking a New Yorker.
-
However, if you don't know the answers, you will not know what your cash investor values. You will end up as a puppet on a string, being played as a chump, and will be back to your rental business within a year.
-
A good stating point will be to sign up for one of those FREE 'Get rich in real estate' programs that is advertised on TV at 2 am. DON"T take your checkbook or credit card. These folks are good, exercise extreme caution. This will at least introduce you to the structure and lexicon of the investment community and expose a few of the common strategies. However, it is the 'paid' program that actually reveals it all keys on recriting a unsuspecting real estate agent who will VOLUNTEER to be a paper hanger. This role is increasingly being filled nationally, by agents who are not Realtors(r). This is important to note.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
Http://RealEstateMadeEZ.us
0 votes Thank Flag Link Sat Jul 13, 2013
If you have other questions about using Trulia, please feel free to email them directly: customerservice@trulia.com.

Best,
Ali
0 votes Thank Flag Link Fri Jul 12, 2013
Hi Alopez,

You should get to know actual investors. A simple first step would be to attend some investor group meetings. A quick search of http://www.Meetup.com shows dozens of groups meeting in your area http://goo.gl/Nmoac.

I hope this helps.
0 votes Thank Flag Link Fri Jul 12, 2013
Thank You!
Flag Fri Jul 12, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer