Episode 42: Insights from a Lawyer, Broker, Title Agent & Investor

October 14, 2022 melissa Real Estate Comments Off on Episode 42: Insights from a Lawyer, Broker, Title Agent & Investor

Episode 42: Insights from a Lawyer, Broker, Title Agent & Investor

Our guest in today’s Real Estate Jam Podcast episode is Amy Farrow. She’s an active investor, owns a brokerage and title company, and is also an attorney! With such an extensive background, you can expect this episode will be jam-packed with value. Stay tuned!

The points below are from the 42nd episode of The Real Estate JAM, where we talked about

Tune in to the full episode on YouTube, Spotify, or Apple Podcasts.

 

The Duality of It All

The lines and responsibilities can become a little confusing when you are both an investor and have your own brokerage and title company. When you add being your own lawyer, then it becomes a one for all. How do you segregate duties, and how can you stay fair to the people who transact with you?

 

What to Look For and What to Avoid

When you engage in real estate, don’t just go for smaller costs or cheaper prices just to cut corners. Sometimes, when you try lessening the cost, it can actually end up harming you and costing you more. Invest and hire the right team so you can avoid pitfalls and problems with contracts.

Want to learn more? You can listen to the full episode on YouTube, Spotify, or Apple Podcasts.

 

Outline of the Episode:

  • [00:48] We have Miss Amy Farrow as our guest for this week’s episode. She has her own brokerage, is an active investor, and she’s also an attorney.
  • [03:09] So, how can you find the best deals for properties to sell or rent? Knowing this can be a significant advantage for you.
  • [06:16] Know an excellent private lender? Why not introduce your buyers to them so they can be empowered to make that purchase?
  • [07:26] It’s okay to think outside the box. Sometimes, the rules are meant to be broken. When was the last time you did something different and received great results?
  • [08:40] How do you tie up the work between a brokerage firm and an investment company if you own both? How can this work?
  • [12:11] What’s the best way to handle acquisitions for people in this field? Do you lead with wholesale price, or do you start with flipping for retail?
  • [14:53] What was the process of transitioning from actual walk-throughs to virtual house tours?
  • [16:13] You can help your sellers by sending them a checklist of things you’ve inspected or things they still need to work on. It helps them take things more seriously and eventually leads to faster sales!
  • [19:12] One of the best pieces of advice to new investors is to be patient with yourself. Try everything and see what works for you.
  • [20:29] What should investors ask to qualify a potential lawyer? Should they be a real estate lawyer, or is a contract lawyer enough?
  • [23:40] It’s essential to have the right people helping you out because sometimes when we try to go for a cheaper price, we can end up paying more than if we had gone and hired the right people. Has this happened to you?
  • [28:02] How do you find a good title company? How can you spot a good one, and what are the red flags to avoid?

 

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