How would I find a realtor investment properties willing to deal with someone fresh out of high school?

Asked by Chris, 19406 Mon Sep 17, 2007

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J Lo, Home Buyer, California Glory, Brentwood, CA
Mon Sep 17, 2007
Hi Chris:
If you are fresh out of high school then I commend you on your forward thinking & welcome you to this forum. You will learn some great advice that will hopefully point you in the right direction.

However, just like anything else in life. The proof is in the pudding. I am going to assume you are over 18 and therefore of legal age to enter into a binding contract. This isn't the case in all state, so to be sure you should first contact a mortgage broker to see if you can qualify for a loan; and if so, how much under what terms.

Don't be discouraged if you find some are unwilling to take you seriously, but if you are motivated to perservere - you could be well rewarded. So - once you establish a relationship with a broker, it's time to find just the right realtor.

Believe me - money talks. If you get financing - you will have to beat the agents off with a stick. Get some good advice from family - find out who they trust - have family with you when you interview agents.

It is never a bad thing to reach out to those you trust. There's no shame in getting a mentor. Don't feel you have to take this on all on your own.

Much luck to you - and please - let us know how it turns out. I could use you as an example for my family members!
1 vote
Deborah Madey, Agent, Brick, NJ
Mon Sep 17, 2007
The best way to get a Realtor to take you seriously is by having your financial documents in order and having realistic expectations. That holds true for any age. Since you are just out of high school, most Realtors will be concerned if your are qualified. Before we take buyers to visit properties, we have an obligation to the sellers to know that the buyers we are bringing are capable of making the purchase. Additionally, since the Realtor only gets paid if and when you purchase a property, verifying the capacity to purchase is important.

I commend you for your interest and wish you the best of luck.

Deborah

PS Beware of late night TV shows on real estate. They might speak to more of what you want to hear versus realtiy.
0 votes
Mike Kelly A…, Agent, Santa Rosa, CA
Mon Sep 17, 2007
What? You're fresh out of High School and are looking to invest in property and are looking for a Realtor? What's the rush? Are you heading off to college? Are you employed. What is it you're trying to accomplish? Mom and Dad could be a great resource for you as they can contribute tax free funds for your downpayment. If you're off to college then consider having your folks invest in a property in the college town you choose. Try to keep the keggers to a minimum!
0 votes
Pam Winterba…, Agent, Danville, VA
Mon Sep 17, 2007
Congratulations on looking to get into the market. I would suggest you connect with a local lender to get preapproved before starting the process. One preapproved most professional Realtors will work with you. Well the caveat would be that you are of legal age to enter into a contract.
0 votes
The Hagley G…, Agent, Pleasanton, CA
Mon Sep 17, 2007
The first thing to do is to contact a lender and get qualified for a loan. A Realtor cannot discriminate against you based on your age. An approval letter and the willingness to buy a home should be all you need...providing you are of legal age. Good luck -it's a great time to buy real estate!
Web Reference:  http://www.cindihagley.com
0 votes
Perry Hender…, Agent, Austin, TX
Mon Sep 17, 2007
If you have a month's rent and security deposit on hand or in the bank account , then look for a rent to own or lease - purchase property. This way you focus you mind into getting what you want versus worrying about if someone will make a deal with you.
0 votes
Erin Stumpf…, Agent, Sacramento, CA
Mon Sep 17, 2007
Hi Chris,

I purchased by first house at age 19, and wow was it difficult to find an agent who would actually meet with me and show me property! My advice to you would be to get all of your financial data together - get pre-qualified and/or pre-approved for a mortgage loan, and make sure you spell out the fact you do have purchasing power to whomever you interview when deciding who to work with. Perhaps someone you know and trust has had good luck with an agent, and could give you a referral? Much luck to you!

Erin
Web Reference:  http://www.sacreblog.com
0 votes
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