CONSIDERING HOW INVESTMENT PROPERTY OWNERSHIP COULD CHANGE YOUR LIFE?

Choosing An Investment Property Agent & Coach

There are many types of real estate professionals - from residential to commercial, to investment and wholesalers - so you want to be looking for someone who knows the investment property business. Buying and selling investment properties is significantly different from buying and selling traditional residential real estate as there is much to consider and more at stake. 

When choosing the right investment property real estate agent, consider:

• Does the agent think like an investor? 

• Are they creative and analytical? 

• Can they guide and help you establish your investment property goals beyond turning a profit?   

• Do they understand the different types of investment properties - from single family homes to campus rentals, duplexes and large multi units, or even to section 8 housing?

• Can they educate you on residential versus commercial tax rates?

• Do they understand the various loan types (commercial, hard money, HELOC, PCL) and know when to suggest which option to explore?

• Can they guide you on creating a Pro Forma if a commercial loan is the best option for you?

• Do they have a pulse on the best rental markets and rental outlook in your areas of interest?

• Can they advise on market rent and rent potential if the property was to be updated?

• Are they strategically savvy in beating out other investors to win you the investment?

• Are they a full time agent, available nights and weekends to quickly respond and beat out other investors? Time is of the essence.

Great investor agents are creative thinkers and know how to search for properties based on desired return on investment. They don’t just show their client’s properties that fit their budget, because at the end of the day this is an investment and the goal with any investment is to maximize your potential return - which is very exciting! 

If you’re a first-time investment property buyer, you might want more hands-on support on the business and operations side than the traditional agent might be able to provide. 

For instance, you might want someone like me who also:

• Has expertise in and personal experience running an investment property business

• Has a true understanding of the properties return on investment from an income and expense standpoint as well as long-term investment

• Can show you how to think bigger if you plan to invest in more than one or two properties

• Has general knowledge in accounting, tax benefits, law, finance, asset management, property management, construction, and general contracting

• Has first-hand experience with doing a 1031 Exchange tax break

• Has proprietary tools to compare the potential value of different types of properties in different areas of interest

• Can advise on construction and remodeling costs for each area of the property

• Can provide an accurate project scope if you decide to buy a fixer upper

• Has managed rental properties, and can advise you on how to manage your new investment property efficiently and with minimal liability

• Can guide you on managing your own rental(s) to include lease applications and rental agreements, how to background check tenants, and where to easily find legal documents without needing a lawyer

• Knows reputable property management companies should you decide not to manage the rental yourself

As an investment property coach and agent who has been in the business since 2006 and has managed 13 of my own rental units since 2016 -  I’m here to confidently help and represent you with ALL of the above.  I’ll walk alongside you throughout the process; educating you and providing resources at each step; and answering any questions you have throughout the journey.  Owning a rental property is the same as owning a business, and being savvy out the gate will save you from unnecessary headaches or unwanted costly surprises down the road!

Schedule a 15-minute meet and greet using this link to learn more about My Investment Property Coaching Program, which is customized to you with respect to where you are in the buying process (learning, deciding, actively searching…).

Ultimately, pick an agent with whom you feel comfortable spending time with and asking any questions without feeling uncomfortable or embarrassed. It's best practice to meet any potential agent you are considering working with in person to ensure they are the best fit for you and your property investment goals.