Home Buying in Haverhill>Question Details

Liam Hoare, Home Buyer in north shore ma

For a first time investment buyer, what aspects of a house/realtor should i be looking most thoroughly at?

Asked by Liam Hoare, north shore ma Wed May 28, 2008

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Congratulations on jumping into being a real estate investor. You picked a great time to get started. I would recommend working with an experienced Buyers representative. You want to make sure your agent consults with you on neighborhood trends, the current condition pricing analysis and a projected value with any planned improvements, Cash flow analysis will also be important to you. Your goals for the investment will be most important in determining your strategies for negotiating and the long term or short term investment. Congratulations again and let me know if I can be of any assistance to you in your search.
Mark Gracy
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(direct) 978-861-4016 tel & fax
AIM: markjgracy
Keller Williams Realty

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0 votes Thank Flag Link Wed May 28, 2008
Big difference between a discount and a flat fee ... Traditional agents get paid a percentage of the home price: you pay more for the property the agent puts more money in their pocket, not great incentive when you are a home buyer, especially an investor-buyer. Big difference between working on a flat fee and discounting service.

Good luck!
0 votes Thank Flag Link Wed May 28, 2008
A good negotiator is a must. Someone that can understand your goals and point out ways to speed you along on your path. Someone that can discuss the different ways to make money and how to do value analysis.
Most investors, especailly people that invest over and over value their agents and some, the smart ones never ask for discounts. In fact The guy that wrote the book Rich Dad Poor Dad pays his agents a bonus. Why because he knows they wil bring him the good deals. Don't grind your agent grind the other side that's where the real money is.
0 votes Thank Flag Link Wed May 28, 2008
Jed Lane, Real Estate Pro in San Francisco, CA
When you looking for a buyers agent you should focus on hiring someone who:

Is a great negotiator
Great at data analysis of the local markets and properties
Can help identify property faults
(Because you are investor .... ) someone who can help identify big(er) market trends

When you interview each buyers agent - which I recommend you do - ask them for numbers to support the above.

If you are looking to invest in multiple properties over time you may want to consider using an agent who will work on a flat fee - or will cut some other kind of deal - since you will eventually become an expert at identifying what properties you want and the agent will become solely focused on getting you the best price (this is based on experience with my investor clients).

In terms of what you should look for in the property, it depends on what you plan to do with them as an investor. Some people want projects they can fix up/ add value and then sell for profit; and others want properties that are in ok shape and very low maintenance for the purpose of just renting.

I hope that helps. Good luck!!!!
0 votes Thank Flag Link Wed May 28, 2008
Liam, as an investment buyer it's absolutely critical you get a Realtor with experience, and who will not charge you an arm and a leg and destroy your return on investment. Also, since you will be hopefully be working with this agent repeatedly, work with someone whose work style is compatible with yours.

Lots of excellent agents in pretty much every area on Trulia. Also try http://www.seekingagents.com, where you can compare multiple agents from your area.
0 votes Thank Flag Link Wed May 28, 2008
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