Good Real Estate Agent for Investors

[nivar]

hey,

I live in Toronto, GTA would like to get referral to a good Real Estate Agent for Investors,
I am beginner investor so looking for someone who is knowledgeable in investing in single family homes.
Also someone who can guide me through the process. Calculations and the basic of investing.

If you have worked with any good agent in GTA, Toronto area please let me know. Thanks.

 

[Berubeland]

Nivar,

I`m afraid you are barking up the wrong tree here. I haven`t seen a single family home that cash flows in Toronto in a long long time. To calculate if it is a good investment or not you have to use this calculation here.

Rent achievable - mortgage - property taxes - property management 8% - vacancy allowance 5% - maintenance expense 10%

A real estate agent wants you to buy. That`s how they get paid. Asking them to tell you not to buy an investment property is a conflict of interest.

 

[Nir]

QUOTE (Berubeland @ May 23 2010, 06:17 AM) Nivar,

I`m afraid you are barking up the wrong tree here. I haven`t seen a single family home that cash flows in Toronto in a long long time. To calculate if it is a good investment or not you have to use this calculation here.

Rent achievable - mortgage - property taxes - property management 8% - vacancy allowance 5% - maintenance expense 10%

A real estate agent wants you to buy. That`s how they get paid. Asking them to tell you not to buy an investment property is a conflict of interest.

Great advice!

My only comment is you believe net operatng income = 77% of rent minus property taxes. wrong, it is much lower around 65% of rent minus property tax. you forgot utilities. cheers.

 

[invst4profit]

Rent - Mortgage - Expenses 50% = cash flow

Anyone else ?

 

[manojsingh]

I agree with Greg. In the long run 50% is expense.

 

[nivar]

thank you for the great response to my questions.
i really want to get into real estate investments.

if the real estate agents are not the way to go,
is becoming real estate agent worth the effort?

I have time / energy to put some study time to get the licence.
I live in Ontario it would take me about (6-7 months to complete the course)
and about $1600 to complete the course.

is it worth to get the licence just for the sake of investments?

 

[Mecheng]

QUOTE (manojsingh @ May 24 2010, 11:11 AM) I agree with Greg. In the long run 50% is expense.
I also agree with this. The 50% rule is a great "rule of thumb" to use when analysing property potential.

QUOTE (nivar @ May 25 2010, 11:35 AM) thank you for the great response to my questions.
i really want to get into real estate investments.

if the real estate agents are not the way to go,
is becoming real estate agent worth the effort?

I have time / energy to put some study time to get the licence.
I live in Ontario it would take me about (6-7 months to complete the course)
and about $1600 to complete the course.

is it worth to get the licence just for the sake of investments?

I wouldn`t suggest getting your licence for the sake of investments, you will have enought to learn, no need to throw that on top.

A good agent that understands RE investing can be very helpful in guiding you.
It is not up to your agent to determine whether you should buy a property or not, that decision rest solely on you.
Your agent should understand the type of property, area and tenant profile you are looking for and show potentials.
Your decision will then be based on, 1-Cash flow and 2-ROI.
Get a good understanding of these first. Do some analysis on your target market on your own and determine if to proceed from there.