Real Estate Agents As Investment Specialists - Do They Talk The Talk Or Do They Walk The Walk?
Now that the real estate market has experienced a surge in investment property sales (up 64.5% from 2010 to 2011)*, more and more real estate agents will be adding "investment properties" to their list of specialties. If you are an investor, how can you make an informed decision about hiring a real estate agent who is best equipped to advise you about real estate investments? My recommendation is to simply ask real estate agents who talk the talk: "Do you walk the walk?"
Auction Bidders at a Placer County Trustee's Sale (Auburn, CA)
Any real estate agent can pay for a course that teaches them the principles of real estate investments and call themselves a "certified" investment specialist...but that is no substitute for real life experience.
- Bob and I are real estate investment specialists because we've been investing in real estate since 1997 and have personal experience with 1031 Exchanges, land development, private money loans, property management, tenants, squatters, evictions, judgments & liens, flipping properties, buying new homes, REOs, short sales and last but not least, buying property at trustee's sales.
Any real estate agent can look on the MLS to find properties and open doors to show them to you. But how well do they know the local rental market and rehab costs to properly calculate an estimated cap rate for each property they bring to the table...and do they know where to buy to get you the best ROI?
- Bob and I know which properties to buy in Placer County, CA to get the best rate of return on your investment and we can show you how to leverage them and purchase additional investment properties while still maintaining positive cash flow. We would not advise our clients to buy anything we wouldn't buy ourselves and our clients buy the same properties as we do.
Any real estate agent can have a rental property or two, but do they really specialize in working with investors or do they work with all buyers and sellers for any type of property? Do they have any property management experience besides managing their own properties?
- For the past 2 years, our entire business has focused on helping investors purchase investment properties in Placer County, CA and most of our business has been by referral from our existing investor clients. Also, we started offering our clients property management services in 2001 and have managed up to 30 single-family homes at one time.
Any real estate agent can write an offer on your behalf, but once you close escrow...what happens next? If you're a savvy and experienced investor, you probably know more about real estate investments than most real estate agents and won't need their help after you buy the property. However, if you are not...well, here are some things to consider when comparing us with other real estate agents:
If you're an investor who wants to buy property at trustee's sale auctions...
- We have been purchasing properties for ourselves and for our clients at trustee's sales in Placer County, CA since 2010. We send our clients lists of upcoming properties scheduled for auction at trustee's sales, then we do the research, footwork and auction bidding on the properties they're interested in.
If you bought a property with squatters and don't know how to get them out...
- We have experience not only evicting a squatter from a foreclosed property, but we also got a wage garnishment and collected the full amount of the judgment owed. We're happy to provide guidance throughout the eviction process, but only if you purchased the property through us.
Locksmith at Placer County Sheriff's Lockout (Eviction)
Check Stubs from Wage Garnishment (Eviction Judgment)
If the property you purchased needs a facelift or a complete renovation...
- We have experience doing all types of renovations and can tell you where to go for the best bang for your buck for cabinets, counters and flooring...plus we give our clients a 10% Lowe's coupon for every property purchased through us.
If you need advice about how much rent to ask for the investment property you buy...
- We know the rental market in our area and all of our properties in the past year have rented immediately for 25% higher than other properties in the same neighborhood because they were newly renovated and properly marketed.
If you need assistance advertising the property for rent to find and screen qualified tenants...
- We can help with whatever you need (taking property photos, creating single-property websites and syndicating them to the major real estate sites, rental applications, credit reports, background checks) but only if you purchased the property through us.
If you don't know the legal requirements for rental property or have a current rental agreement...
- We will let you know if anything needs to be done to make sure your property is in compliance with local, state and federal laws. We will also do all of the paperwork, disclosures and checklists associated with your rental property, but only if you purchased the property through us.
*Source: National Association of REALTORS (Investment and Vacation Home Sales Surge In 2011)