Thread: Work with investors?

There are as many "different" kinds of investors as there are realtors. Some investors need a mentor; an agent willing to give lots of help and advice, others are about the numbers working and there are agents that dig that...

A good partnership between an investor and an agent can be very rewarding for both.

Very true carlam. I assume you are an agent. Have you worked with many investors in the past?

Yes, I am an agent. And yes, I work with investors; I like the newbies (I was in Training and Documentation for 18 yrs prior to real estate).

My husband is the go to guy for the numbers have to work type of investor. He sells mostly commercial, but he does a lot with investors who like to buy homes in bulk.

There is opportunity for all types of investors in this market!

Personally, I don't really like working with investors. In my experience, they want to scour the earth for the best possible deal, which I don't blame them for. However, it is simply not a good ROI for my time to look at 50 houses and put in 30 low ball offers for 1 commission check.

Investors are great to work with. You've just got to qualify them correctly to see if they are time wasters or not. I hate the ones that come out of seminars pumped up with unrealistic expectations.

If they're happy with 60 to 70% LTV - based on the APPRAISAL. Then I'll work with them all day under the sun. If they want 50% LTV - they are smoking the green stuff and can go knocking on pre-foreclosures all day long to find the one deal that may stick every six months.

I enjoy working with investors because they are not emotionally attached to any properties which means that they can act quickly if they see a good deal.

Great answers! Thank you!!

Great point Mike about your ROI. An agent I used to work with would show me 30 houses a week, I would probably make 15 offers, and if I was lucky would get 1 accepted. He told me the only reason he did that was to get the listing once I rehabbed it. We were only talking about $80,000 houses, so I think he just really didn't have anything else going on.

Orlando... As an investor I think I would have a hard time buying a house even if it was 60-70% of the appraisal price. I want to know what the house is worth, not some guy driving by and sticking a value on it. I would buy at 60-70% of the comp price, of course then I would have to subtract the rehab/holding/closing costs, etc. Guess you'd probably then tell me to go back and smoke my green stuff!

bronsonb... Emotionally attached, that's a probem I have ran in to before. That was when we were doing the work ourselves, we spent so much time in the rehab that we got attached. Not a good thing!!

Anyway, thanks for your responses!