How to Find a Real Estate Investor Friendly Attorney
Full Answer
An investor friendly title company/ closing agent (or attorney in some states) should: So, How Do I Find My “Investor Friendly” Title Company? One thing you should not do is just whip out the yellow pages… Contact transactional lenders. They have many title companies in all 50 states that they can recommend for double closings
Simply put, an investor-friendly agent is one who understands the ins-and-outs of investing in real estate, including: the tax implications, the return on investment (ROI) calculations, and most importantly — how to find the right investment properties. Connect with an Investor-Friendly Realtor Today
Real estate investing although it revoles around property – it is very much a people business. We love your feedback and welcome your comments.
Benefit to investor: When investing in real estate, knowledge of the market is critical. The more you know about the nuances of a property and its surrounding area, the better equipped you’ll be to make smart purchasing decisions. Even the most experienced investors can benefit from an investor-friendly agent’s deep familiarity with local markets.
Most title companies perform typical closings day in and day out, which usually involves someone buying a home through a realtor and obtaining a mortgage.
The state you live in will determine which you'll use because each state has different laws about who can and can't be involved in the preparation and closing of a real estate transaction. (you can check a state by state closing guide by clicking here to see the requirements where you live.)
Settlement or Closing of the Transaction - The escrow or settlement agent oversees the closing of the transaction. The seller signs the HUD, CD or settlement statement, deed, and owner's affidavit as well as miscellaneous closing documents. The buyer will sign their final CD, HUD, and their settlement statement. After all the paperwork is complete, the seller will get their proceeds for the sale of the property, you will get your assignment fee, and the end buyer (Investor) will take title to the home and get the keys.
The escrow agent acts as a key communicator with all parties involved throughout the process until the file is ready to schedule and close.
​The escrow is accepted by the title agent and often confirmed with an earnest money receipt upon request. The escrow agent starts the closing process by opening a title order. The file begins to be processed with the collection of data including but not limited to obtaining loan payoff information, marital status of parties, legal documentation for corporate entities & ordering inspections.
One more time for the record when you find your superhero title agent, make sure you show your appreciation after each closing by taking them lunch or dropping a thank you card in the mail. Little gestures go a long way with people who often feel overworked and under-appreciated.
If the conversation is any different than the example above, and they're acting like they don't know what you're talking about, thank them and hang up .
An investor-friendly agent not only has insider data that can boost your bottom line, they can offer you access to a wider array of properties — like homes that aren’t even on the market yet.
Investor-friendly agents are the unicorns of the real estate world because there are so few of them . It’s true that the best are investors themselves — which means that they’re making good money from their own real estate investments.
Working with an agent who brings you unlisted properties to buy makes real estate investing more affordable because you won’t need to outbid the masses.
This insider info is important when you’re investing in a healthy real estate market where there’s plenty of properties for sale. And it’s absolutely vital when you’re searching for investment properties in a hot market.
Real estate investing is a numbers game that’s won or lost when you pick an investment property to purchase. If you’re planning to flip your investment home, you’re gambling that you’ll be able to sell for significantly more than it cost you to purchase and fix up the house.
The bad news is that adding investment properties to your asset portfolio is going to complicate your tax returns. The good news is that most investors are eligible for some great tax breaks.
The flip would need to go perfectly for those numbers to work . Unfortunately, most properties have hidden problems that you won’t have budgeted for.