How can I locate experienced brokers to help me(novice investor) with multifamily units in San Diego/Carlsbad?

What should I specifically look for in the brokers and how do they get paid?
In Buying Property - Asked by S J. - Jul 20, 2009
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Answer(s)

Shaw M.
Owner/Investor
Sacramento, CA

Dear Investor,
Although most fees are negotiable in real estate, a buyer in a transaction typically doesn't pay anything. The commission comes from the seller. That’s the great thing about being a buyer in real estate. You should interview different brokers and look at their experience in the specific investment your interested. Ask questions to understand exactly what is it that your getting. Generally, multifamily units are valued just like other investment properties; with a capitalization rate (percent of return on investment). However location, quality of building, and the quality of tenants is imperative to a long lasting investment in multifamily. Good management is also a key factor in determining a potential investment. I hope I was able to answer your question. I’m an investment broker with over 5 years of experience in retail, multifamily, and land. I currently reside in San Diego. Please let me know if I can be of additional assistance; or if you simply have a question, feel free to call.
Regards,
Sean Monfared
AC Financials
916-267 3861-Cell
916-258 6311-Fax

Jul 20, 2009
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Dan M.
Broker/Agent
Peotone, IL

I am an attorney that concentrated in real estate transactions and a real estate broker concentrating in multi-unit apartment buildings. You need to look for someone that has the experience to assist you in achieving your real estate investment objecives and someone that you connect with and trust. I have over 38 years experience in my two professionsand would be please to assist you. Typically, the seller of the property that you purchase pays my commission when I am representing the buyer. Please feel frree to contact me at 708-204-2064. Dan Murray

Jul 20, 2009
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Leo M.
Van Nuys, CA

Do not listen to any of those plugs above. I'm a nobody who has dabbled in the smallest real-estate investment opportunities imaginable (all under 1million) multi-units.
In my experience, because I'm a small timer, working in my price doesn't exactly motivate experienced people to do anything for me. The best advice I can give you is go through the phone book in the SD/Carlsbad area and call around the reputable franchised names: ReMax, Coldwell Banker, etc. Chances are, one of those franchises would be specializing in commercial real-estate and they could hook you up with a broker. Find the one that you get alone with, and see how serious they are about helping you.
I ended up buying a small neighborhood commercial unit in AZ about 2 years ago; despite a huge downturn in that market that low-end neighborhood center has been a boon for our family because it was low-end--thats mostly thanks to the efforts of our real-estate agent who still contacts me although the place is 100% leased out. He's become our defacto go-to guy for anything (we live in CA)

Jul 20, 2009
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Rebecca P.
Broker/Agent
Chula Vista, CA

As an agent who use to be an assistant for a large firm that does Multifamily, I have to agree with Leo to a certain degree. The broker's with the most experience don't like taking new investors by the hand and showing them the ropes, but you can find one out there. Like the other two said, meet a couple people and see who you connect with and is willing to educate you. One suggestion is make sure he is from San Diego and has been in San Diego for a while, it will be easier for them to pin point what you want. I'd like to recommend my friend Mack @ 619-818-4205.

Jul 20, 2009
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Naomi M.
Owner/Investor
Palos Verdes Estates, CA

I am also an investor looking to purchase in San Diego as well. I have been in the business for over 22 years and the great deals I did find are through inexperienced brokers and sellers where they did not know the market nor did their homework, so I was able to buy at the right price. Meaning, you, yes, you only must do your homework. Talk to other investors (only successful ones) that is if they are willing to show you how they did it. Also Buying in SD

Jul 20, 2009
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