All Forum Posts by: Anita Chu

Keep us posted on what happened. Since it's from 2 months ago, I'm assuming you already got it or didn't get it. If the home has tons of saves and attention in coming soon, I'm guessing it had a bidding war/best offer scenario, I usually pull up cma or offer my advice for clients what a strong offer would be. After being on both sides of listing agent and buyer's agent, it's so true that highest price is not always the best offer! In case you're in the same situation again, it always helps if your realtor have a conversation with listing agent to understand what the seller's priority is and what is important for them; it'll help make your offer stronger. 

Most people find it easier to start in your "backyard", New york is tough but it's less risk if it's somewhere you're familiar with or can at least drive to as real estate is hyperlocal. I know NY friends who invested in PA and CT, many towns that provide reasonable price point for LTR with decent cash flow. Even with the appreciation I've seen in CT where I am, there are so many towns that are great for cash flow / build equity. If appreciation isn't a huge factor, it'll be even easier to find. As first investment, it'll be more beneficial if it's in a market that you can get to and check out, because you can learn so much in the industry, how it works, and what kind of investor you want to be. Like someone else said, even attending investor REIA meetings, building that network is invaluable.

It really comes down to the goal and strategy you're going for. I am more of a cash flow type of investor so I would probably hold if majority of the maintenance work is complete. In CT, since most towns have reasonable priced homes, the cash flow strategy makes more sense than appreciation. Unless you're looking at hot markets like Boston, NY, NC, FL, I wouldn't count on much appreciation in CT, it's like an added bonus if it were to keep appreciating like it has during pandemic. If you're going for the long haul and building your portfolio, then hold it if it's cash flowing well. 

Wooo! I got my license a year or so ago and at the time, interviewed with 4 brokerages in my area in the same 1-2 day span so the information stays fresh in my mind. There are lots of things to consider. But ultimately it comes down to what factors are your priorities, like is going to the office important, mentorship, commission split, brand recognition, etc. I will say that in the beginning of the real estate journey, it’s very beneficial to focus on learning and gaining experience than worry about commission splits. I went with kw, but one thing I wish I did was joining a team you vibe with or having a close mentor that is assigned to you, that way y’all fast track your learning to set up the foundation for future success. Then once you’re making lots of deals, then you’ll get an idea for what factors are important to you as well. And people change brokerages all the time so its not the end of world if you don’t end up liking the brokerage you ended up choosing! 

it's great that you're already thinking of real estate investing at 24. I got my first home around 24 too. home buyer first, then became an investor, and now i'm a licensed realtor too. which areas are you looking in? i can set you up on mls to receive up to date multifamily listings for your criteria. generally speaking in the central CT area, the town with the most multifamily inventory is hartford, new britain, bristol, east hartford, manchester. further out, there's also middletown, waterbury, meriden. 

it's awesome that you want to get a head start even as you're pursuing your license. are you thinking of pursing to become a real estate agent specifically? there are lots of real estate teams and brokerages with job opportunities even if you don't have your license yet, like you can be an assistant on the marketing front, client service, calendar management, research etc. 

this is exactly the dilema i went through. being an investor first and knowing that i'll be investing in more homes in the future, i ended up getting licensed. the fees of being a realtor per year ends up being around 2k, depending on which brokerage you join, mls fee, licensing fee. the way I look at it was, if i do at least one transaction a year to break even then it's worth it. if you're only going to buy 1-2 in your lifetime then it makes sense to just work a realtor you trust. but you might end up doing more than 1-2 transactions in your lifetime that you don't expect now, like selling, close family who's buying/selling/renting/investing etc. also consider that as a realtor, you have continuing education as well so the learning doesn't just stop after the pre-licensing classes. 

etsy have tons of customized closing gifts, or assemble a personalized closing basket yourself. i'm into art myself so i have done watercolor painting of the home for one client, chocolates/wine for another client, framed art, it all depends. FYI that client gift only have a $25 tax write off 

sounds like you need to talk to a good lender first to see what your DTI is and go from there. there are tons of programs to finance a property, and a good lender will guide you based on your financial situation and goal. you or any realtor should know what budget you're working with prior to starting your property search.

i just use the good old excel sheet ha for take photo of receipt and recording down the date/amount/description.