While you are on-line looking for the optimun investment property keep a few things in mind. One is that the biggest mistake most buyers make is not using a REALTOR that is experienced in multi-family transactions and property management. REALTORS such as Stephen Jones of San Marcos, Texas not only have been involved in many multi-family sales but also help in the operatation of the property management side of Legacy Real Estate Sales & Mgmt.
Another issue is often buyers will contact the Listing Agent directly. Remember that the Listing Agent represents the seller. Although the vast majority of the real estate agents will treat everyone fairly in any given transaction there are many reasons why you should have your own real estate agent. One is that you, the buyer, can innocently reveal information that can harm your negotiating position. Simple information why you want to close by a certain date or up to what dollar amount you are pre-approved for purchase can be used against you in negotiations. It is better to have an experienced "Buyers Representative" contact the Listing Agent.....infact most Listing Agents prefer this. A good buyers representative can save you thousands as well steer you clear of marginal properties. A good buyer's representative will have a list of inspectors to choose from, suggestions on contractors if needed, and general advice on the transaction.
Don't be afraid to sign a "Buyer's Representation" agreement. This secures the real estate agents time and effort. Once this is done the agent can concentrate on finding the buyer the right property.
Above all begin your search for investment property early. Your agent may be able to find you property that is not listed yet or have a creative idea on how to accomplish your goal. Finding properties with good value takes time. Investors that call a real estate office and desire to buy something "right away" usually end up "over paying" .
