(newbie) REI broker or on my own? - Posted by chase

Posted by A Miller on December 08, 1998 at 18:39:05:

Youre a man after my own heart!! There are realtors, there are investors, and there are both combined in one. Investors with a license. Therefore you have conflicts of interest-sometimes. If the agent is really sharp you dont get the deal.
If you`re the investor you have to know what to buy.

(newbie) REI broker or on my own? - Posted by chase

Posted by chase on December 08, 1998 at 13:53:03:

i’m new to REI - after having read all the books, etc., i’ve decided to meet with a local broker who specializes in investment properties. i understand that i’m not likely to find the “one in a million” deal through a broker and that i’m going to have to give up some potential profit, but do you think that for a beginner, it might not be a bad idea to get the advice and guidance of someone who knows the field? even if it means giving up some profit?

Re: (newbie) REI broker or on my own? - Posted by A Miller

Posted by A Miller on December 08, 1998 at 18:29:09:

SNAP OUT OF IT. In Your Area you have hundreds or
thousands of agents licensed through the local Board.
You can call 50 to 100 agents that will work for you
and feed you deals free because they work on commission
and live to have a principal call them and have a shot
at getting business. This means you have free employees
at your beck and call. Do you think you can have 1
employee that can match 50 or 100?

That is always a wise idea, but… - Posted by Soapymac

Posted by Soapymac on December 08, 1998 at 16:55:58:

you have to really be wary because some “investment” RE brokers do not know their a^&* from a hole in the ground when it comes to the type of investing we talk about here.

Before you work with this broker, try to find out if s/he, too, is an investor…even if it is only SFR for rental, or 2, 3, or 4 family units.

If they don’t invest, they are a RETAIL broker who specializes in RETAIL priced investment properties.

I’ll let someone else add in some of the other questions you should ask. What I’ve given you will eliminate a bunch of brokers.