Expert: Dick Dennis - 7/25/2006

Question
What are some important questions I should ask the selling agent?
Should I ask over the phone before deciding to view the property or during an inspection?

Answer
There's a difference in real estate agents, Jodie. Many of them out there don't know very much more than you. After all, they just recently got their licenses. Who you want is someone who has been in the investment property business for a minimum of 10 years. During that time, this person has learned alot about what is best for investors, especially new investors. Just be aware that those "house sellers" will lie to you and tell you they know all about investment properties.

So, look in the papers or even the internet. Look for agents who have investment property for sale. Some of them are so sophisticated that they really don't have the time for a brand new investor. They may be too arrogant for you. So, try to find one who is willing to help you get started and is willing to explain what is the best property with which to get started. So, when you find someone who has a property for sale, it don't matter what kind of property it is, then call his ad, ask for him/her and hope that you have someone who will help you get started.

Or, just go out there and try to buy a fixup house that you can repair and get a tenant to keep it in good shape. All this sounds ideallic, but it is true. It is possible, but you really must spend the time.

I do wish you well.

Dick Dennis                  dixiedee13@aol.com