My real estate agent is also an investor. That alone helped so much when we were looking for a house as our house that we bought was something that he knew would cash flow. It was off market and cash flows at $529/month.
Finding the right agent is critically important. If the investor agent has knowledge of investing, you're much more likely to find what you want. An agent who isn't investor friendly or doesn't have the knowledge and experience will pull things out of thin air and hope you like them. This is great advice. I've experienced it.
I am the agent Sara wants, but I would advise agents steer clear of the Sara investors. Here is why. What she wants is a bunch of acquisitions managers looking for her for free and the one who finds it, will get paid the normal agent commission, but nothing for all the "employment" of tasks Sara "requres" of "her agent." Sara, if it's your agent, you have them under and "exclusive" contract and you pay a stipend up front. If they find you a place that meets your criteria, they also get paid that commission. Agents are licensed to ensure buyers and sellers comply with State law. The MLS properties have commission attached, so they know they will get paid. Off market real estate is a niche and if someone is spending 10-20 hours in that niche for you, they should get paid. That you say, that is what you expect from them, is what I learned to hate about "investors." You said you go to a bunch of agents with your criteria. That shows no loyalty and I doubt you work for free, but you expect that of an agent. What you need is to pay a salary to an acquisitions person. It can be a licensed or unlicensed person and that person will go look for all your off market places. There are a lot of you. So, as an agent, I would put you on the "drip" you hate and go earn money as an agent and if I came across something that met your criteria, then I'd give you the time of day. That you don''t see any of this, is very off putting. I've spend more hours than any residential agent I've ever met learning about returns, commercial and residential investing, etct, so I know it, but I would never just chase deals for you. That said, to the show podcasters, yes, an agent who has those skills sets themselves apart. But, that agents doesn't learn that to set themselves apart to chase off market inventory. I now have higher end Commercial clients and Dentists, who trust me to find deals. Some of those, many of those, will be from the MLS and we do look for off market. Sara should be putting up the money for all the off market marketing she wants and then also pay someone to facilitate that. An agent is just free labor for her, so it's pretty insulting.
The best agent I came across was in a New Jersey, the market is super competitive and he was on the money with following up. However the market was too expensive and too competitive for me. But all my other agents are “muh” ….and all from BP. So unfortunately you can get lackluster agents from BP to. Sometimes when BP Rookie has the experienced people come on it is very overwhelming because they are very far removed from the rookie lane. My agents in TN are amazing, quick, knowledgeable, and are willing to share contacts. Now if I could close a deal, I will be set in terms of having a team/resource in that area.
While I agree that an investor should have some sort of knowledge about a market that they are interested in, I do take an issue with the way Sarah is answering a lot of these questions with you're "wasting your agents time if you do this" or "that's not your agents job to do that". Investors (especially rookies) should feel comfortable asking as many questions as they like to an agent. You're not wasting anyone's time by asking questions that you feel are important and if your agent feels that way then maybe they are not the agent for you.
My real estate agent is also an investor. That alone helped so much when we were looking for a house as our house that we bought was something that he knew would cash flow. It was off market and cash flows at $529/month.
Thank you for sharing! And congrats on massive cashflow.
@@SarahWeaversarahdweaver Thank you so much too! Our first deal was a home run and I'm looking forward to future deals.
Finding the right agent is critically important. If the investor agent has knowledge of investing, you're much more likely to find what you want. An agent who isn't investor friendly or doesn't have the knowledge and experience will pull things out of thin air and hope you like them. This is great advice. I've experienced it.
Great job Sarah!!!!!!! You're killing it.
I am the agent Sara wants, but I would advise agents steer clear of the Sara investors. Here is why. What she wants is a bunch of acquisitions managers looking for her for free and the one who finds it, will get paid the normal agent commission, but nothing for all the "employment" of tasks Sara "requres" of "her agent." Sara, if it's your agent, you have them under and "exclusive" contract and you pay a stipend up front. If they find you a place that meets your criteria, they also get paid that commission. Agents are licensed to ensure buyers and sellers comply with State law. The MLS properties have commission attached, so they know they will get paid. Off market real estate is a niche and if someone is spending 10-20 hours in that niche for you, they should get paid. That you say, that is what you expect from them, is what I learned to hate about "investors." You said you go to a bunch of agents with your criteria. That shows no loyalty and I doubt you work for free, but you expect that of an agent. What you need is to pay a salary to an acquisitions person. It can be a licensed or unlicensed person and that person will go look for all your off market places. There are a lot of you. So, as an agent, I would put you on the "drip" you hate and go earn money as an agent and if I came across something that met your criteria, then I'd give you the time of day. That you don''t see any of this, is very off putting. I've spend more hours than any residential agent I've ever met learning about returns, commercial and residential investing, etct, so I know it, but I would never just chase deals for you. That said, to the show podcasters, yes, an agent who has those skills sets themselves apart. But, that agents doesn't learn that to set themselves apart to chase off market inventory. I now have higher end Commercial clients and Dentists, who trust me to find deals. Some of those, many of those, will be from the MLS and we do look for off market. Sara should be putting up the money for all the off market marketing she wants and then also pay someone to facilitate that. An agent is just free labor for her, so it's pretty insulting.
How can we use the bigger pockets website to find cash buyers?
Thanks
The best agent I came across was in a New Jersey, the market is super competitive and he was on the money with following up. However the market was too expensive and too competitive for me. But all my other agents are “muh” ….and all from BP. So unfortunately you can get lackluster agents from BP to. Sometimes when BP Rookie has the experienced people come on it is very overwhelming because they are very far removed from the rookie lane. My agents in TN are amazing, quick, knowledgeable, and are willing to share contacts. Now if I could close a deal, I will be set in terms of having a team/resource in that area.
Good stuff. Great interview. Congrats Tony and Ashley on you guys projects
Great episode guys!
Great interview!
While I agree that an investor should have some sort of knowledge about a market that they are interested in, I do take an issue with the way Sarah is answering a lot of these questions with you're "wasting your agents time if you do this" or "that's not your agents job to do that". Investors (especially rookies) should feel comfortable asking as many questions as they like to an agent. You're not wasting anyone's time by asking questions that you feel are important and if your agent feels that way then maybe they are not the agent for you.
I think she was speaking to the fact that the investor should have done their homework.
200,000 for duplex where? Class C/D area ? NY/NJ area 200k was 30 years ago
Ashley, congrats on the soon STR! Where's the cabin?
If you need a Realtor in the Milwaukee Wisconsin area, I'd like to help!
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