3 Tips to Becoming a Real Estate Investor
Do you want to get a head start on becoming the next Chip and Joanna Gaines now that Fixer Upper is coming back in 2022??? Or maybe you are a newer real estate investor, and you have no idea where to start??? Regardless of where you are, you need to watch this entire series!!!
In the meantime, I am going to suggest 3 things that you should consider when building your team and searching for an “investor friendly real estate agent”. The tips I am about to share with you can be utilized even if you do not have your real estate license, almost all the investors I work with do not!!
Number 1: You must become laser focused on what area you want to work in. You want to dial down to zip code rather than area code.
Number 2: If you don’t have access to MLS data then you’re going to want to use a site like Zillow or realtor.com and look at the last 3-6 months of transactions in the ZIP Codes that you have chosen. What you will be looking for are cash transactions, properties that were distressed and the sale of fully renovated homes. You will then see who the agents were that were involved in these transactions, typically you’re looking for the agent on the buyer side of the cash transactions, and the agent on the selling side of the distressed and renovated homes. A pattern will eventually develop which I will cover in a few moments.
Number 3: you are going to have to get out and connect. By connecting, I mean attending meetups or groups in the areas that you are wanting to be working in. Typically there are investor groups or groups that are run by agents. You can also connect by driving the neighborhoods in the zip codes that you have identified and look for homes that are currently going through renovation. You can typically tell this by dumpsters that are in the driveway or the street. Once you have identified those addresses, work backwards to find out who the agent was in that transaction. You see, our goal is to come up with a list of 5 to 10 solid agents that you can reach out to and interview.
You should want someone that is a Community Market Leader, like myself!!! Those are typically the agents that you are going to want to have
on your team. There is no doubt you have more questions!!!