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Updated almost 6 years ago on . Most recent reply

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Daniel Osifo
  • Real Estate Agent
  • New York, NY
6
Votes |
3
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Possible routes to becoming an RE Investor

Daniel Osifo
  • Real Estate Agent
  • New York, NY
Posted

Hello All,

I am from Atlanta, GA but I moved to Queens, NY for college. I am a recent graduate from college and I started to learn about Real Estate as I graduated. I can see myself doing this for a long time in the capacity as an investor. I do have a career in healthcare but I also want a career in real estate investing. I am currently in the process of gaining my NY real estate license and I am told that I can function as a part time realtor to gain experience in the field. My goal is to invest in and hold properties in both NY and ATL.

Is becoming an agent for a few years then gaining my brokers license the only way for me gain the privilege of buying and selling properties or is there some unconventional method that I missed?

What has been your experience starting off into REI?

Are there any common pitfalls I should avoid moving forward?

Most Popular Reply

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266
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181
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Curtis Rouse Jr
  • Realtor
  • Atlanta, GA
181
Votes |
266
Posts
Curtis Rouse Jr
  • Realtor
  • Atlanta, GA
Replied

@Daniel Osifo

Welcome to BP! So to answer your question about becoming an agent, it all depends on your personal and specific goals as to what you are trying to achieve. Me for instance, I'm currently investing in commericial real estate while tranisitioning from my day job to being a  full time RE investor so I leverage the brokers/agents and just factor their costs into my underwriting. I don't want to sell real estate, I want to build a portfolio as an investor and receive the monthly cashflow. On the other hand for you, it might be very beneficial so you can understand the markets and how this business works, while supplementing your income with your commission checks. 

Common pitfalls I see is to know your market(s) and also as you start investing is to focus on the financials by making sure you aren't making emotional decisions just to get into real estate. Also the dispositioning of the asset 3, 5, 10 years down the road is very important that both new and seasoned investors tend to not account for.

Best of Luck and please feel free to  message me at anytime for any help! God bless

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