All Forum Posts by: Eric Lerman

I just passed my exams and am currently interviewing brokers. I've come across a few people who have moved to Keller Williams from other brokerages. @Ozzy Sirimsi and @Joe White, why did you two choose Keller Williams? Where else have you worked and how is your experience different at Keller Williams? I was thinking about KW, but they seem to have a LOT of fees and expenses. I'm looking for good training and mentorship without having to give up almost everything I make in commissions, fees, etc. Any thoughts would be greatly appreciated. Thanks!

My brother meets weekly at the Wholefoods in Plymouth Meeting with a group of people. It is a free, private space to rent. Another suggestion is the Giant in Willow Grove. They have a community space upstairs that is available to rent for free as well.  How about we lock down a a time this week or next to set up a meeting? What would work best for everyone and where?

Happy New Year to everyone! I am fairly new to Bigger Pockets, but have heard some great things about the community here. So I wanted to introduce myself and let you know that I am looking forward to making some lifelong connections.

I've been interested in Real Estate since about 1999 when I started realizing the potential it has. However, I let many opportunities pass by because I was uneducated and afraid to take the first step. Not only that, but I had family and friends holding me back because they didn't believe in investing in Real Estate because it was "too risky" and "too hard to make money." So, I went the more "traditional" route and finished college and got a "regular" job. I've had a few "regular" jobs over the years, but Real Estate Investing has ALWAYS been in the back of my mind. I now believe it is my passion, (well, that and traveling) and purpose, and what I'm meant to do in life. So, over the past 6 or 7 years, I've been educating myself, and investing my money in other peoples' deals and ventures.

Now, in 2017, and beyond, I want to be the one finding the deals and making things happen. I want other people investing in me, instead of me investing in them. Of course, with that being said, I won't turn down a good opportunity to make money. I'd still be happy having my money grow by helping other people. But, primarily, I want to take on Real Estate Investing as my full time career. I want to build, flip properties, and add more rentals to my portfolio. I am also taking accelerated classes to become a licensed Real Estate Agent in both Pennsylvania and New Jersey.

I'm interested in meeting other investors, wholesalers, flippers, developers, builders, contractors, mortgage brokers, title companies, private money lenders, attorneys, etc. I'd also be interested in forming partnerships, jv's, and equity participation relationships. I live in the Philadelphia area and have been actively seeking properties in and around the Philadelphia area for rehab or new construction. I am currently working with someone who has about 30 years of experience in the field. Although he has many contacts of his own, I don't want to have to rely fully on him, and want to be able to "pull my own weight" and participate equally by bringing things to the table, making suggestions, and adding value when it comes time. I believe that people are more likely to do business with people they know and trust. So, I look forward to meeting you and making some connections! 

Likewise, @Joseph Duff I'd be interested in finding out what @Mark Redmann ended up doing and what the outcome was.

Dennis, I am a new investor in Philly and I am in the same position now that you were in a few years ago. Not sure if I should dig out a basement and finish it in a rowhome. And don't know what it would cost or if permits are needed or if the footings have to be restructured. What has your experience been? Any insight you could give me would be greatly appreciated. Thanks!

Thanks Rafael. I have thought about adding a third level to make it more comparable, however, I have decided to pass on this particular house for a few reasons. But the main one being that it is currently on the MLS and the price isn't very negotiable. I do have a realtor I'm working with and I think we'd be REALLY stretching to make a profit based on the asking price. There are plenty of other opportunities out there with a less risky profit margin. Thanks for your help!

Hello Rafael. I'm working with Baylie. I am able to easily figure out ARV's in stable markets, but I'm finding it difficult to figure out a good solid ARV in a trending market. There are lots of new construction in the area which can't be used as a fair comparison to a renovation. However, a lot of other rehabbers are adding 3rd story additions to these 2/1 houses which is also adding a lot of square footage. So it's becoming a little difficult to determine a solid ARV in an area that is so drastically different with housing prices and values changing from block to block. Is there any kind of formula to use when there are more or less beds/baths/square footage? Or is it really just take my best guess and gamble with the outcome in such a transient area?