Did you know there aren’t any special requirements necessary for a residential agent to sell someone an income property?
For example, a Realtor who spends most of his time selling houses in the suburbs, can help you buy a duplex and not be required to know how to do an income property analysis spreadsheet.
As a result, he may tell you the property with the upgraded kitchen is a better buy, when in reality, it may have a negative cash flow which will cause you to either spend more for your portion of the rent than you wanted or, dig in to your pocket in order to cover the difference between income and expenses.
That’s why it’s so important to find an agent to work with who specializes in these unique properties. Not everyone does. And when it comes to duplexes, granite counter tops may or may not make a property a better value, but higher rent always will.
While the bulk of my business is in Minnesota and western Wisconsin, I am always happy to help duplex buyers and sellers nationwide find competent agents in their area to help them in their multifamily transactions.
Because I specialize, I know which questions to ask prospective agents on a buyer or seller’s behalf, and how to tell whether or not a prospective agent truly knows what he or she is talking about.
Whether you’re looking for a duplex specialist in Los Angeles, Maine, or some point in between, drop me a line or give me a call. I’d love to help you find the right agent for the job.