Real Estate Investing School: By Qayam Khan
One of the single best assets you can have when working with property is a good relationship with a seasoned, established real estate agent or broker in the area you are buying in. Many investors and home owners feel some sort of resentment against real estate agents in general, when in reality, if they would follow some simple rules, they would find that a good agent will make them considerably more than they could make on their own.
A few points about Realtors:
1. They work with real estate values and markets every day, the average investor or home owner works with real estate in their spare time.
2. They only get paid if they successfully perform a service for the investor or home owner.
3. If you find a full time agent that has been selling real estate for more than 3 years, he or she probably knows more about marketing your property than you ever will, unless you take up investing full time. Again, look for a quality agent, one who is full time in real estate sales, not part time.
4. In the market today, some investors and home owners are now finding buyer brokers who totally represent the buyer interest and in some state they can give part of their commission back to the buyer as long as buyer's mortgage company is ok with that and there is disclosure on the HUD and closing statements.
If you don't know the value of a particular piece of real estate, you can use an agent or buyer broker to locate comparable properties. An agent can also give you pointers on what makes property sell, such as what are the latest color schemes, and how to "stage" a house for sale.
Where do home buyers and investors find Investor Realtor or Investor Real Estate Agent?
How does investor find a Real estate agent that understands how investor thinks and kind of property that works for investor buys? The best places are real estate investor clubs. So how find investors association or groups in your area? It's easy do a Google search on any of following: Real Estate Investing Clubs, Real Estate Investment Association, REIAs, Real Estate Investing Classes, Real Estate Investing Groups, Landlord Club, and Real Estate Investing Network.
A Real Estate Investors Association (REIA) mission is to provide an entrepreneurial atmosphere for real estate investors to learn, teach, and network to new and experienced investors. REIAs and the Real Estate Investors Clubs have been formed for real estate entrepreneurs and professionals with one of their goals to bring like minded individuals together, to achieve greater real estate goals. Real Estate Club members come from many walks of life: first time buyers, new investors, licensed agents and mortgage brokers, commercial investors, attorneys, CPAs, and first time landlords.
Real Estate Investment Clubs and Associations meet regularly in most major cities. They hold there meetings usually on monthly basis in the evening. First time visitors can usually come free to a first meeting or pay each meeting thereafter or get yearly membership. Membership is encouraged as these organizations are primarily funded through membership. What great place to find real estate agent who is in like minded group.
Ralph Marcus Maupin, Jr. (Mark) works with bulk buyers and seniors in Michigan homeownership. He is an instructor of real estate investing at local college. You read more about him on his web site http://www.MrLeaseOption.com
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Thursday, January 31, 2008
Why Would An Investor Or Home Buyer Work With A Realtor To Find A Home Or Investment Property?
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When buying a home, consider insuring your mortgage with a term life insurance policy. Not only is this a much cheaper alternative to bank mortgage insurance, but it gives you and not the lender the control of naming the beneficiary. You also have the option of choosing a term life policy that converts into whole life insurance once the term expires; after the conversion the policy will begin to accumulate a cash value. Consult with a licensed broker about this option; it's also a good idea to compare term life insurance quotes online to get the best rates.
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