1,057,804
Okay, there are two schools of thought on this. It's good that they do their own math because if they can't, they shouldn't really be investing. You are there to provide market information. It's up to them to determine whether or not the deal will make sense for them and at what price.
However, it is good for you to understand how they get from point A to point B and there's really nothing better than CCIM CI 101 Financial Analysis, if you have the 1600 bucks to plop down. Game changer.
If you want to spend about half that much for extensive tools and resources, you can join The Institute and your local chapter for access.
And if you want to just go to the website route... BiggerPockets and Norada Real Estate are wonderful resources.
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Hella M. Rothwell, Bro...
Carmel by the Sea, CA
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Carol Williams
Wenatchee, WA
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Michael Setunsky
Woodbridge, VA
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Andrew Mooers | 207.53...
Houlton, ME
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Tony and Suzanne Marri...
Scottsdale, AZ
-
Praful Thakkar
Burlington, MA
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Bob "RealMan" Timm
Minot, ND
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Kathleen Daniels, Prob...
San Jose, CA
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Candice A. Donofrio
Fort Mohave, AZ
2,403,621
The investors I work with know a lot more than I do Praful Thakkar and if they feel I can contribute in any way they will tell me what they want from me.
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Brenda Mayette
Glenville, NY
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Nina Hollander, Broker
Charlotte, NC
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Praful Thakkar
Burlington, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Candice A. Donofrio
Fort Mohave, AZ
5,583,328
well, the basic math that amounts to gross income minus expenses leaving you with the amount that will satisfy the mortgage debt.... they should consult with their accountant for any calculations beyond that....only their accountant would have access to their financial picture....
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Brenda Mayette
Glenville, NY
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Tony and Suzanne Marri...
Scottsdale, AZ
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Praful Thakkar
Burlington, MA
-
Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
6,426,300
I share what I know after investing in many types of real estate.
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Bob Crane
Stevens Point, WI
-
Bob "RealMan" Timm
Minot, ND
-
Praful Thakkar
Burlington, MA
-
Debe Maxwell, CRS
Charlotte, NC
544,014
Beginner investors are very high maintenance with low return on time invested.
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Brenda Mayette
Glenville, NY
-
Candice A. Donofrio
Fort Mohave, AZ
-
Praful Thakkar
Burlington, MA
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Debe Maxwell, CRS
Charlotte, NC
2,684,769
They should be comfortable with an HP12C financial calculator (or similar). They should understand how IRC Section 1031 tax deferred exchanges work. They should know how much state and local occupancy taxes/rental taxes are. They need to know zoning and/or land use laws (can this property be a rental?) They should be aware of any prohibitions on rentals by homeowner associations, condo associations, or local governments.
Anything beyond those basic concepts, you should introduce them to your CPA and/or Tax Attorney.
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Michael Setunsky
Woodbridge, VA
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Bob "RealMan" Timm
Minot, ND
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Praful Thakkar
Burlington, MA
-
Debe Maxwell, CRS
Charlotte, NC
65,378
bigger pockets is an excellent source!
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Bob Crane
Stevens Point, WI
-
Praful Thakkar
Burlington, MA
-
Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
3,350,774
Generally they are other professionals, CPA's, attorneys, etc.
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Nina Hollander, Broker
Charlotte, NC
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Praful Thakkar
Burlington, MA
-
Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
5,773,392
Praful,
It is important that you understand the numbers. Many investors will and should talk to their accountants, and your knowledge adds to your trustwothiness. And Candice A. Donofrio gave you the best advice, A
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Bob "RealMan" Timm
Minot, ND
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Candice A. Donofrio
Fort Mohave, AZ
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Praful Thakkar
Burlington, MA
2,785,746
Actually attitude for their success is something they consider valuable. Second to that is you place them first then yourself. Lastly, you don't make a killing unless they do. Post script: always be contactable. Peddle these!
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Praful Thakkar
Burlington, MA
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Bob "RealMan" Timm
Minot, ND
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Kathleen Daniels, Prob...
San Jose, CA
7,872,375
My experience as an investor.
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Praful Thakkar
Burlington, MA
-
Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
1,712,876
I learned a lot from CRS 204 and CCIM.
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Candice A. Donofrio
Fort Mohave, AZ
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Bob "RealMan" Timm
Minot, ND
5,117,808
My investor buyers do their own research and work. I just "share" properties with them.
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Brenda Mayette
Glenville, NY
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Bob "RealMan" Timm
Minot, ND
3,986,308
Everything and anything
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Bob "RealMan" Timm
Minot, ND
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Praful Thakkar
Burlington, MA
3,988,013
I share my negotiation skills which are invaluable. I do not share any links other than my website and my MLS.
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Bob "RealMan" Timm
Minot, ND
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Praful Thakkar
Burlington, MA
2,222,281
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Debe Maxwell, CRS
Charlotte, NC
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Anthony Acosta - ALLAT...
Atlanta, GA
5,259,126
Most of mine work with financial planner and/or CPA and together they run the numbers. I will share the area rental rates and cost spreadsheets to review with their team. Many of mine not local but, they know what they want and simply have me find them specific properties in specific areas - they take care of the data.
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Bob "RealMan" Timm
Minot, ND
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Anthony Acosta - ALLAT...
Atlanta, GA
509,449
First time investors are the hardest to work with. They may have or may have not been going to an investor meeting club etc and sometimes were getting the wrong info. For a example, I got a call from an investor and the first thing that he said is that he's a builder. When I asked how many homes he has built his reply was none. As we talked further he started to admit that he's an investor, never invests before, would like to fix and flip, been going to investment club and getting input from others here and there. When in business together I think it's best to know where everyone is at and be honest. Afterall we are working together as a team.
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Bob "RealMan" Timm
Minot, ND
2,190,382
In addition to what Candice A. Donofrio said, I like the Mr.Landlord site.
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Candice A. Donofrio
Fort Mohave, AZ
1,625,735
Majority of my investors know exactly what they want, I share only potential deals.
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Bob "RealMan" Timm
Minot, ND
1,466,257
Praful Thakkar Looks like Candice A. Donofrio already beat me to it. You should take the CCIM course. Don't forget to read and understand Article 11 of the NAR COE.
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Candice A. Donofrio
Fort Mohave, AZ
599,734
I always recommend they visit the web site for BiggerPockets. It's a great resource for real estate investors with forums and blogs, investment calculators, podcasts, and much more. If anyone is looking at investing in real estate, that's the best single source of information I'm aware of.
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Bob "RealMan" Timm
Minot, ND
4,800,132
Try to get insight into the community and the possible future growth plans.
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Bob "RealMan" Timm
Minot, ND
921,504
A repair calculator and value calculator.
Resources I don't control are of little value to me.
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Bob "RealMan" Timm
Minot, ND
3,416,088
I deal most often with seasoned investors, there is always a steady flow of those who dream to enter the market to buy, fix and sell. Many though with little knowledge, no savings and a dream.
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Bob "RealMan" Timm
Minot, ND
1,555,250
All they require; that is my world so I have many.
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Bob "RealMan" Timm
Minot, ND
637,484
There is no "one size fits all" in investing as I was just reading in a real estate course I took in order to renew my brokers license. Some want return of their cash investment, some want strictly cash flow, others want location. I've been working with a lot of investors recently, some are selling because they just don't want the responsibility of it anymore; others want to buy because they want rental income. BUT THEY ALL HAVE TO DO THEIR OWN MATH. I don't stand behind any financial statements that are made available to me.
1,507,123
If they're brand new, Bigger Pockets is a forum designed for investors and educating them. Most of it is "Bro Science" but some of it is industry tried and tested stuff.
902,658
Help seek out opportunities; help with rental market info; do analysis based on capital value approach, etc.
1,525,616
As you have probably heard, we are to be the source of the source. Since the MLS is the most up to date info, that is the probably the most important info to share with them. It should be done in a very timely fashion too, IMHO!
991,952
Depends on the type of investor - are they commercial or residential, flipper or landlord.
Need more information
1,728,967
An investment financial analysis showing how the target property measures up to those in the neighborhood regarding Cap Rates, etc.
846,475
1,242,204
Each person's model is different. Most like to strike rich quickly with other people's $. There are way many investment savy people here.
Assuming you give them the Loopnet site link you think they are coming back to you for commercial properties representation?
4,434,177
5,247,584
You need to understand the numbers so you can overview their analysis and guide them. They make the decision. You must make sure they are using the right information.
3,071,589