All Forum Posts by: Albert Pena

Hey Briyana, I'm sorry I never followed up on this post - I just saw your reply.  My wife and I decided to move forward with the mortgage loan instead simply because we didn't want to reno anything and didn't want to make a business out of our home purchase. Either choice would have worked out well.

@Kevin Paulk

Thank you for the insight, Kevin!

Im a realtor and I like the idea of focusing on vouchers and govt assistance clients. (As long as they have high credit). The programs pay brokers more than a regular rental and there’s a huge market for it bc many realtors don’t like to work with vouchers.

I think landlords are stuck on this stereotype that if they have a voucher, they’re a bad tenant, which is not true! e.i. I have college students with vouchers and high credit scores.

Is there any other new york realtor here that agrees with me? (Or disagrees, id like to hear it all)

@Nathan G.

Nathan, I do feel she is wasting both our time. I’ve told her to do her job and get me information from the hra office and she never seems to have made any moves on her own so that I can further help. It’s also frustrating that she won’t let go of her pets given the circumstances.

I think this will have to be the first time I actually let go of a client.

@Kobe Xin

Thank you very much for those kind words. A lot of good things can be said about a person who can identify and call out the good in others.

Thanks for the rent to own idea. I’ll read up on it.

I definitely think the best to do is find an experienced rental agent. Thank you so much for the response. I will follow up on what happens a month from now.

Real Estate Agent (3.5 months experience)

RE/MAX Prestige Properties Bronx, NY

Albert Pena

I have a client (mother) who’s desperate to move from where she is now to another home... I ask her where to? And she says ANYWHERE!

When I ask for her income and credit score:

$15,000/yr and no credit. No Good.

And to add to that, she has a cat and dog.

She tells me she gets assistance from the government, I believe HRA or HASA. Ive told her to get me a voucher; or go to their office and get me a representative on the phone...

Honestly, I don’t know what I’m doing!

I should let her go or pass her on to another agent, but I really want to help. When she sounds defeated over the phone, I want to help even more.

If anyone would like to join me in this process, or guide us - I would greatly appreciate it. We can split 60/40; ill take 40.

Also welcome any tips.

Thank you!

IG - Albert.penaremax

I’m being offered a job as a sales agent for Re/max. It’s a franchise realty, and I have to pay 310/mo to represent the company. I get 70% commission on sales. Does anyone think this sounds ok?

Please, any feedback is appreciated

What’s up guys!

I want to give an update on what’s happened since I quite my job 3 months ago.

I went broke, so i was forced back into the office........ Joking! Lol I do have another job as an assistant to keep me living.

I first enrolled into an online course for the salesperson license. Figured I'd make that my day job to network easier and gain access to the MLS.

NONSTOP READING! I hope newbies are reading this. Occasionally I’ll read people’s posts on biggerpockets and the feedback they get. Most of my time im reading books Ive bought on the kindle. “‘The book on rental property investing” by Brandon Turner is essential - it’s how i was introduced to Biggerpockets and it’s podcasts.

Podcasts and youtube videos are great. Biggerpockets podcasts for solid and reliable information. And When i feel like I’m getting impatient or losing hope -motivational YouTube videos help refocus on the bigger picture to keep grinding out the work. Searching “A day in the life of real estate agents” are exciting videos to watch also.

Ive learned that networking is essential in our career. I attended the Than Merril Seminar. I met other young motivated newbies and, yes, I paid $300 for the next seminar and the books they offered on tax liens and deeds. I would pay that for my textbooks in college, so why not! I read the books and learned valuable information on buying foreclosures and lien certificates. It’s led me to want my first home to be a cheap rehab.

If youre still reading this, get in touch with me ASAP. Let’s work.

Ive found a partner as motivated as me and we bring value to the team by sharing information and being proactive about everything-real-estate.

Lastly, we got preapproved by a mortgager with my wife for 450k. If we don’t find a rehab and dont need a private lender, we have that to fall on.

Newbies, keep working; indulge yourselves in this. There’s good information out there.

And i want to thank @Richard Merkuris and @Nathan Killebrew and active users like them, who saw a newbie post and took their time to give words of encouragement - us newbies appreciate you! The strive to success continues.

My girlfriend and I are preapproved for a 450k mortgage loan to buy our first multifamily. But a friend of ours just told us that she got a BUSINESS loan instead and bought a rundown home at an auction and rehabbed. We’ve been studying real estate for about 3 months now and haven’t read a strategy like this. Has anyone else tried this?

Rookie Alert!

What’s up guys,

Im excited to see so many experienced individuals all in one platform. I just made a major career change; I’m entering real estate investing from a 9-5 in freight-forwarding job. I want to get the rush of buying and selling/renting.

I hope I’m not the only newbie looking through comments and feeling like i have a lot of work to do.