I just got off the phone with an investor who I have recently started working with. I had to refer him to another agent because I just couldn't work with him anymore. We put 4 contracts on 4 different properties and we lost all of them to other investors. One of the homes had 15 contracts on it in 10 days and the agent was not accepting any more offers. Two of the homes were bid well over the asking price.
In Houston, TX there seems to be a flood of investors right now. It seems like I get a new lead ever week from an investor who needs finding a home. So far, I have put around 20 contracts together since the first of the year and none of them have went to closing. I can't do it anymore!
My best advice to investors in the Houston area is to get your Real Estate license and work for a 100% commission company with low fees, like Realty Associate or Champions Real Estate. Most Realtors are going to become uninterested after they put a few contracts together that do not go anywhere; especially on $40,000 properties with 2% commission splits. I would drive myself out of business if I kept working with investors in the Houston area.
If you are a new agent who hasn't worked with many investors, don't get too excited when they contact you asking for help. My experience might be different in other parts of the country, but in Houston there are just too many investors to make any money helping them. They just consume valuable time.
What has your experience with investors been like?