Very good advice from Robert. I also always suggest that someone trying to find an agent who knows about investing to to http://www.creonline , find a nearby investment club, and then determine which agents are active there. Laarni's advice is good if you're interested in commercial properties, but concepts like cap rate and IRR are less applicable, and less often used, on residential investment properties.

Ask an agent: "Can I make money on an investment property without buying the property?" Even if your intent is to purchase--and certainly an agent's intent is to make a commission on a sale--the agent must answer "yes." Ask how. If the agent answers "no" or can't explain how, then move on. (There are dozens of ways--some variation of an option is the most common one.)

Ask an agent: "Can I buy a property without getting a new mortgage on the property?" Even if your intent is to get a new mortgage, make sure the agent answers "yes." Then ask "How?" (There are dozens of ways. Some variation of owner financing, ranging from straight owner financing to wrap mortgages, is the most common way.)

Finally, ask an agent: "Do you own any investment properties?" If the answer is "no," you might wonder about the agent's level of experience with such properties. The agents I know who specialize in investment properties are investors themselves.

Hope that helps.

Mike:
There are numerous ways to "invest" in real estate. I suggest you contact a few agents and interview them. A good agent...and one who is honest...will either be able to help you achieve your goals or will refer you to someone who can. I've helped folks in Sonoma County (sometimes Napa and Marin) who buy second homes/condos/estates as investment properties. I can direct you to someone else who works more directly with multiple unit investments and commercial opportunities. Most agents do a little bit of everything...it's the nature of our business. My goal is to be as versatile as possible to meet my client's needs. When it's clear expertise is required that I do not have, I refer the client to another agent.

There are many skilled agents out there. You’re going to want someone that not only knows your local market but also has the necessary skills to negotiate the best deal for you.

I recommend that you find your real estate professional through a trusted friend or family member that had a good experience. If you are looking to buy or sell outside of Delaware, I could also refer you to a qualified real estate professional.

Grimly Foret
RE/MAX Wilmington
Grimly.NET
Residential & Investment Real Estate

Hi Mike:

I think most of the agents on Trulia probably handles 1-4 units, 5 units or up, but not other commercial investment properties such as office building, etc as they are treated quite differently.

For me, other than primary residences, I help my clients searching and purchasing properties that fit their investment goals depending on whether they aim for equity growth, cash flow, long term or short term gain (can be complicated such as CAP, Cash on Cash, GRM,RRI, NOI etc, or just simple term - I want to have something that I can fix up, rent out and sell in a few years for profit).

Different price range also affects what we can find for our clients.. Some of my clients want a primary residence with the goal to sell in a few years - that's a different angle. Those are all different goals for my clients who are looking for real estate investment in this peculiar market.

Right now there are quit a few REOs, short sales, regular sales in Petaluma which I thought have wonderful potential; but the houses may or many not fit 'YOUR' investment goal - and that's the important part - YOUR goal.

I also team with experts in construction, lending, title and such who will be able to provide services to bring the property from and title who will educate and advise my clients how to property handle a 1031 exchanges.

However, if you need other type of investment, such as major commercial property etc, I will have to refer you to other colleagues who are truly experts in those areas to help you!

Hope this gives you some idea on what I do.

Best,
Sylvia

Hi Mike H.,

I agree with Robert. Interview these agents and ask them questions re Cap Rate, ROI and IRR. If they buckle on these acronyms then they are not real well-verse in investment real estate. You yourself shoul be able to know these terms so they cannot play games with you. Good Luck and may you find an agent who will honor its agency relationship with you.
Laarni

Mike, are you keeping your search to Petaluma? I have many to share in Southern California.

I am actively marketing a 5 units Mixed Use corner lot in La Jolla (Birdrock). Water views, very affluent neighborhood.

Its a keeper!

send me an email or if anybody is interested: I can send them my flyer.

I will also be doing a 30 city blast on craigslist today, so it will be availble in most major metro areas to view.

Try to get a referral from another investor. Or ask the agent if you can talk to some of their recent investor clients. You can also interview them and ask them about the market, prices, cash flow, and neighborhoods in relation to investment properties, and you should get a good idea of their skill set.

Also, try your local investment club and ask around. If you go to this site http://www.creonline.com/real-estate-clubs/ca.html, you can find a list of investment clubs throughout the state of CA.