Discover the Right Real estate agent for you…
Whether you are buying a house or searching for real estate investments, working with an expert real estate agent or company can make the difference between getting the home of your dreams or a home you regret. A realtor can not only assist you in discovering the best home at the best price as fast as possible, but they can also aid in making the buying procedure run efficiently and easily.
Of course, like anything worth while, you have to invest some time to get it, however, not as much as you may think. In order for you to have the ideal agent working with you; you need do some research on who the major players are in your market, and set-up some interviews. To figure out what questions to ask during the interview simply right down a list of all the potential concerns you may have.
To find the right agent you may want to take some time in learning more about the marketplace to identify homes you liked that sold fast via the internet. This can help you see in person the type of marketing done to a home to get I sold simply by looking at what they did to other homes. Once you talk to the agent in person, you can mention the home they sold and even ask how they did it so fast and see if they would be able to do the same for you.
You also want to make sure whoever you’re dealing with is familiar with the local market. Ask them how much of their business is done in the local area. This will tell you all you need to know about what they know about your local market as its probably the case that if they’ve done lots of transaction locally, they probably understand the market better than someone who hasn’t.
Another things you can do to find a great real estate agent is to simply ask family and friends for recommendations. If they did a great job for the person you know, the person recommending them will want to associate with them and probably recommend them. If, however, they did not do a good job, you won’t even have heard of them. Just don’t forget to ask more than one family member or friend, if you identify a name that comes up repeatedly, you should probably work with them.
As for qualities to look for in any given real estate agent, you want someone who is sincere, reliable, experienced and caring. You can tell very quickly whether they care or not by simply speaking with them and taking them through your interview process. If they care, they’ll feel more personally invested to get you end result you want, the same way you’re willing to go further for those you care about. (If you want to be your own realtor, this article may help: https://www.huffingtonpost.com/entry/how-to-start-a-career-in-real-estate_us_59b97c87e4b0390a1564da7c)
Ultimately, having a great realtor helps make the process of buying or selling property much smoother and can make all the difference when purchasing a piece of property. So, make sure you ask them all right questions and work with the right person, check out their websites to get in touch with them, some of them have terrible websites like this one: http://www.shawndhesirealtor.ca/ or great ones like keller Williams
So, now that you know how to choose the right realtor, how do you choose the right commercial investment? But more importantly, why should you choose to invest in commercial real estate?
The Beauty of Commercial Real Estate.
The age-old question for real estate investors rings in the head of many novices who are just getting started. Should you invest in commercial or residential? So, what’s the answer? Well, it depends on who you ask, but since your reading this your interested in my opinion is that you should invest in commercial. Why? Because, if you’re going to invest, may as well invest big.
What is commercial real estate?
Commercial real estate is 5 or more units while residential is 5 or less. This is the simple basic understanding between the two. When you invest in commercial, you basically are buying more units, using more leverage and getting more rewards.
Why Invest in commercial?
You know, when you invest in any piece of real estate, you take a risk, and overall, if you’re smart enough to evaluate one piece of property and take the risk, you’re probably smart enough to evaluate 16 units or 32, the cost for the analysis is relatively the same. After all, a good deal is a good deal, the only difference is your risk can go down and your rewards can go up exponentially between purchasing 1 unit and 32 units.
See, when you purchase a residential cash flow investment that has only one stream of income coming from one tenant, you’re left at the mercy of that tenant, if they decide not to pay, you are screwed. Now, if you have 32 people paying you monthly and 4 or 5 decide to stop paying or move elsewhere, you still have cash flow rolling in on a continual basis. This will bring down your risk of default. The old saying is true, one is none and two is one, I would add to that, the more the merrier.
What about capital risk?
Well, its obvious that when you’re seeking greater rewards you’re often facing greater risk, its also equally true that you can mitigate that risk and protect yourself against it with the rewards. If you can manage to do your due diligence correctly and have your cash flow be such that even in the worst-case scenario you can cover your debt payments, then you need not worry as you’ll continue on rocking and rolling. If, however, you due not do your due diligence correctly, then you may have a problem on your hands, but the same things can happen with any residential investment that makes you a little bit of money.
There you have it, this is why I believe you should invest in commercial real estate over residential real estate.