Beginning investors often ask what the most effective thing to do would be to get started. If I were to be dropped off in a new state, a new city, or even a new country, my first step would be to start talking to agents in the area. Why?
Well, regardless of my experience or knowledge, I am not going to be up to speed on a new area like an agent who has been there for years working that market. That agent will have insights and connections that I want to tie into in order to get my investing going.
The first thing I will do is filter them online. On www.remax.com, you can filter the agents and find ones who specialize in dealing with investments, rentals, property management, foreclosures, etc. Once I know who they are, I will call possibly 15 to 20 of them just to have a basic conversation about what they can do for me. I will NEVER go through a list of questions at this time, because if they feel like you are interrogating them, they won't want to work with you.
Make sure you are confident in the direction you want to go (investing in real estate), but be humble enough to ask for advice or ideas that could help you become more successful. The agent will generally want to help you with your questions, and they generally want to share their knowledge with you. Play off of that, an let them teach you. However, don't assume that just because they are an agent, the information is correct. It may be way off base. There are a lot of very lame agents out there. But after talking to about 10 or 15 of them, you will automatically recognize the ones who have experience and a positive attitude, and you can focus on working with them.
Just get out and make some calls. It never hurts. Keep it simple, and see what the agents can do for you. You may be surprised at all of the resources they can provide for you. Anything they can't provide, is on your plate and you need to find a way to fill those gaps. But let's at least start the ball rolling by talking to a few to see what happens.
Beginning investors often ask what the most effective thing to do would be to get started. If I were to be dropped off in a new state, a new city, or even a new country, my first step would be to start talking to agents in the area. Why?
Well, regardless of my experience or knowledge, I am not going to be up to speed on a new area like an agent who has been there for years working that market. That agent will have insights and connections that I want to tie into in order to get my investing going.
The first thing I will do is filter them online. On www.remax.com, you can filter the agents and find ones who specialize in dealing with investments, rentals, property management, foreclosures, etc. Once I know who they are, I will call possibly 15 to 20 of them just to have a basic conversation about what they can do for me. I will NEVER go through a list of questions at this time, because if they feel like you are interrogating them, they won't want to work with you.
Make sure you are confident in the direction you want to go (investing in real estate), but be humble enough to ask for advice or ideas that could help you become more successful. The agent will generally want to help you with your questions, and they generally want to share their knowledge with you. Play off of that, an let them teach you. However, don't assume that just because they are an agent, the information is correct. It may be way off base. There are a lot of very lame agents out there. But after talking to about 10 or 15 of them, you will automatically recognize the ones who have experience and a positive attitude, and you can focus on working with them.
Just get out and make some calls. It never hurts. Keep it simple, and see what the agents can do for you. You may be surprised at all of the resources they can provide for you. Anything they can't provide, is on your plate and you need to find a way to fill those gaps. But let's at least start the ball rolling by talking to a few to see what happens.