Years ago, when I first started investing in real estate, I was perplexed as to how to find a good Realtor to work with. My goal of course, being to work together to find investment properties. I quickly learned that many real estate agents did not have a clue what I was talking about when I described some of the types of real estate investing strategies I wanted to employ.

On numerous occasions, I would describe to agents what I was looking for in regard to investment properties. In turn they would send me a summary report off of the MLS of 140 plus listings in Bellevue or Seattle. Now, how the heck is a person supposed to maneuver through 140 plus listings received via email? I quickly learned, that even if a real estate agent says they know how to find investment properties, only a select few really do.

So, my strategy evolved and I learned the magic question to ask of a real estate agent if you want them to help you find, evaluate and close on good investments. There are many questions you need to ask, but the magic question is....

 "Do you Own any Investment Properties?"

Simply stated - if a real estate agent does not own any investment properties, how can they know anything about investing? If you are going to invest in real estate, whether it be apartments, duplexes, single family homes or commercial, and you are planning on doing buy and holds, rehabs, flips, lease options, or other strategies...... you need to make sure you have an agent that has "Been There - Done That".

Of course you could do what I just did (after three years of real estate investing without a license) and go out and get your license. Keep in mind though, that having your license brings other challenges (the liability issues in WA state are huge, the fees can add up....), but that's a topic for another day.

Mark at The Internet Real Estate Center

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