Profile picture for jkaminari

I would like to buy an investment property in Pittsburgh, PA

Hi,

I went to see some homes in Homestead and Glassport, I liked to make an offer on a couple, what is the best way? Contact listing agent? Get an agent? A real estate lawyer?

J.
  • July 09 - Pittsburgh
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Answers (7)

Investment property is more of a business transaction. There are no personal attachments that you would have with the property which makes your ability to negotiate much better.  You will definitely want to connect with a Buyers Agent and not the listing agent for the property. If you contact the listing agent he/she will work on keeping both the buyer and seller happy. Which may not be the most effective way to negotiate.  You may also want to find a buyers agent familiar with short sales and foreclosures, and you must also have the patience to work through this process. It can be time consuming and frustrating.  There are also new funding opportunities for investors.

  • August 07
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Try to find a buyer's agent who understands, and is familiar with, investment properties.  Most Realtor's do not!  Investment properties are very different from residential properties - so WHEN you find a good agent that you want to work with, make sure he/her has some understanding of the basic terminology that you yourself should be aware of - NOI, ROI, etc.  Also, we are from the Pittsburgh area as well - and you might want to consider Westmoreland County.  Jeannette and Monessen are great areas for investment.
  • July 20
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Profile picture for Kim Bills
Hello!  Congrats on taking your first step in becoming a real estate investor!  Rather than contacting the listing agent, I would recommend you meet with a buyer's agent.  Your buyer's agent will represent you, and only you, rather than using an agent that must juggle between properly representing you AND the seller of the property.  Additionally, you may want to interview a couple agents to determine how involved they have been in investment property purchases.  For example, I am a Realtor in Nebraska and personally own 2 investment properties.  Therefore, I not only have the professional experience, but also personal experiences and knowledge to benefit you throughout the process.  Your real estate agent needs to know there are loan differences when you purchase an investment property (e.g. Fannie Mae allows a lesser amount of closing costs to be paid by the seller if you are purchasing as an investment property).  Small things like this could hold up your closing, so make sure the agent representing you can foresee these items and write them correctly in your purchase offer contract.  Good luck!  - Kim Bills, Licensed Real Estate Professional, NEBRASKA
  • July 11
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Profile picture for BlairCohen
Get your financing in order whether it is pre-approval for a mortgage or cash and contact a GOOD Realtor Agent who is experienced and knowledgeable with investment properties and your desired area's. 
  • July 11
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Profile picture for GMerino

If you are not looking for a loan and have cash to purchase a property, the next best thing is to contact a buyer's agent to provide you with a list of homes that you may be interested in. 

If you need a loan, the best thing to do is contact a loan officer to get pre-qualified to even see if yo can purchase an investment home.

  • July 10
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I agree with Andrew, the first step is to get pre-qualified unless you have cash. I suggest going with an agent that is not the listing agent so they have your best interests at heart and get you the best price. Generally most seller's that list with an agent will pay the buyer's agents commission so it's like you get their services for free! I know of a few good realtors in the area that I can refer you to free of charge.  Please give me a call at: [contact information deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines].
  • July 10
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When looking for properties, the best thing to do is get pre-approved for the mortgage first.  This way, you will know exactly what payment and price range fits your budget. Most realtors these days will require a pre-approval so they know you're actually qualified to buy the property.  Call me at [contact information deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines] to get pre-approved today and then we can set you up with a great realtor to look at some homes!  Thanks!

  • July 10
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