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Old 03-22-2014, 03:20 PM
 
1 posts, read 959 times
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So, I've been interested in Real Estate investment and "flipping" houses for years now. I'm finally working with an investor who is ready to start, and launch our partnership nearly right away. I'm not in tune with the "lingo" of real estate, and have not yet decided on a realtor to bring along on this ride with us. I'm studying auction procedures in my state and all types of things. I'm looking for someone who could just point me in the right direction as to things I can prepare for now and or any tips that will be helpful in finding the right "first property". Shortsale? Foreclosure? If we buy with cash, do auctions still require "owner occupied buyers"???

I'm sure once we have a realtor dedicated to working with us, i'll have propoer resources to ask specific questions. in the mean time...anybody?

State is Maryland.
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Old 03-22-2014, 03:33 PM
 
Location: The Triad (NC)
30,099 posts, read 66,361,690 times
Reputation: 35377
Quote:
Originally Posted by Moodylicense4 View Post
So, I've been interested in Real Estate investment and "flipping" houses for years now.
I'm finally working with an investor...
If they have the money... what do you bring to the partnership?
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Old 03-23-2014, 03:08 PM
 
Location: Baltimore
1,759 posts, read 4,579,089 times
Reputation: 1195
auctions... bleh

you're about 4 years late to the foreclosure party
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Old 03-24-2014, 09:46 AM
 
2,429 posts, read 3,387,459 times
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Does your 'investor' know a realtor?
What about a realtor who has worked for a person who actually know....you know....personal recommendations?

How much commission are you prepared to pay?
IF -- IF -- you can persuade the realtor that you'll have many more future transactions s/he MIGHT cut you a deal on the commission. (lower commission on more deals) On the first deal.....I doubt you'll have any leverage....unless you're buying multiple properties.

Buying with cash and quicker sales WILL entice sellers...whether going for foreclosure, private sale. From my understanding, short sales take time... but maybe cash might speed that along.

You do have the other details of this "partnership" worked out, right?
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Old 03-26-2014, 11:31 AM
 
Location: Howard County, Maryland
1,539 posts, read 1,846,369 times
Reputation: 2441
There are realtors in the area that primarily focus on working with investors. You'd need to call a few companies and ask to meet with the realtors who handle that. Interview them, ect. They will be in the best position to answer your questions and advise you.
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