All Forum Posts by: Andrey Norin

Depends on if you plan sending your kids to a public school. My crystal ball sees you in a single family home in a nice town in Westchester somewhere. If schools aren't a concern, buy a single family home in a safe neighborhood along the gentrification path in one of the boroughs...think Astoria, that type of neighborhood. I doubt cash flowing real estate is going to be your thing because of the time demands that it requires, but I've been wrong before, so take what I say with a bit of salt.

Hi there,

I wanted to get the opinion of other investors and realtors on investing for cash-flow into multifamily homes in Yonkers, New Rochelle and Mount Vernon areas.  Do you think these areas are in general overpriced?  What has your experience in those areas been like?  What are some area specific factors to consider?

Thank you, and I appreciate any insightful comments.

Originally posted by @Ceasar Rosas:

By the way, at Houlihan Lawrence we don't recruit, this info that I'm providing you is what I wish I knew when I first started. I worked for Exit, great company, good training, but the person that brought me in was not actively doing real estate and was just recruiting. A lot I've learned throughout the years has been through actively searching for it. You just want to make sure you have the right mentor. You should know the average Broker/Realtor makes 35k. But the top guys are 200k + consistently (Net). I work with my wife, we are pushing to break that 200k barrier this year. 

Hi, great thread, I have learned quite a bit just from reading the older posts.

Ceasar, why does the average realtor make so little?  Am I under the correct assumption that most people try their hand at being a realtor for a short time and eventually give up and move away to something else?  What are the capital requirements to being a successful residential realtor?

Do you wonder WHY there is so much talk about it? There's no smoke without the fire...

Hi, Can you guys recommend any sources where I can subscribe to US real estate market information that can be e-mailed to me daily? I love getting the NYTimes Daily Brief and the Daily Download by CIO Journal from WSJ. Are there similar real estate focused newsletters that I can get to keep track of new developments? Love getting briefed on new industry developments first thing in the morning. Thanks

Hey Abel, thanks for the words of welcome.  I'm actually, in the Rego/Park Forest Hills area.  I fat fingered my zip code when signing up for BP, and now temporarily stuck with it.  ;)

...but I hear ya, Queens pride!  

Hi folks,

I am new to the real estate investment business. My 5 year goal is to become a professional real estate fund manager.

I happen to live in NYC where there is a large concentration of people with 7 figure incomes who often have a difficult time obtaining a more than nominal return on their at-risk/disposable capital. My objective is to become known and, most importantly, trusted by these people. My observation from being close to some of these individuals is that there are two main reasons why they often don't invest with other investment managers:

1-they don't know them (trust)

2-they don't like/know about their track record (competence)

Since my current track record in producing returns through RE investing is non-existent, the only currency that I have going for me is my character. The timeline where I see myself really starting to need the capital of these people is 12-36 months from now.

While I am creating awareness in the marketplace and earning the trust of these individuals through a relentless campaing of obtaining as much face to face time with them as possible, I am busily working to raise my competence through educating myself, doing small deals, and forming area-specific alliances.

Is there anyone here who has gone through a similar exercise? In your experience, aside from local REIA groups, what are some of the best places where I should regularly be investing my time? I am looking to lay the human capital foundation early on that will allow me to scale rapidly later on.

Thank you very much for reading.

Andrey

I highly recommend Frank Gallinelli's books on real estate math/accounting. He is a professor at Columbia and his books walk you step by towards being able to understand financial statements, which in my mind is half the battle. He also offers an online course through his site, but the content appears to be the same as in the books.

Hi Jennifer. Welcome from a fellow Queens guy and a BP/RE newcomer. Will be following your posts with interest. Andrey