All Forum Posts by: Garrett Ro

@J Scott et al.

Any advice for a newbie looking for MF fire sales? If this is the beginning of a trend with larger corporations (some claim 30% to default on ARB in February?, Sugar Hill Capital Partners or City Skyline Realty in NY late last year, upcoming debt maturities, etc.), will this trickle down to smaller MF property owners? 

I wouldn't be able to take on any of ARB's triple digit unit defaults; I'd be looking for smaller MF properties. How does one research insolvent owners/find defaults and to pursue potential fire sales if/when said defaults occur?

Any advice/input is appreciated.

Looks like I'm following @Erik Estrada's advice and just getting licensed here in MA. @Daniel McDonald It doesn't make sense for me to have more than one right now, especially if I'd be paying fees not to use it. But  @Bruce Lynn I'll definitely try to find the right broker with the least amount of fees. And thanks for informing me about RESPA @Christopher Jason Lloyd...sounds like I'll need to know that one for the exam. Thanks for all the advice everyone!

@Russell Brazil Thanks for the heads up....definitely trying to do this the right way.

@Daniel McDonald Thanks for the extra information. I don't have any RE contacts and am just going off of rumors, etc. so many thanks for the offer!

If I get licensed in multiple states (contemplating moving out of MA), can I leave one license "inactive" (to only pay for MLS access once? or is it by state?) or do I only have a certain timeframe to sign on with a broker before I have to take the exam again?

I hear brokers approach agents once they pass the exam...Should I wait for the onslaught before interviewing brokers? or is there a list of all agencies/brokers in Boston I can approach in advance to get a better idea?

Many thanks for any advice as this clearly is out of my realm of expertise!

Garrett

Hi everyone,

I'm a pharmacist at a hospital in Boston, MA and was wondering if I could collect referral fees (?) or commission based on introducing my coworkers (doctors, pharmacists, nurse practitioners, physician assistants, etc....all high income earners) to a real estate agent or broker. If so, how do I market myself and/or initiate a contract(?) with an agent or broker? Is there a standard contract/agreement for referrals with or without a license?

If not, and I have to actually get a real estate license first, how do I find a sponsoring broker specifically interested in this arrangement?

Are there brokers in the Boston area willing to sponsor someone (an agent if necessary) just for referrals?

Is there a way to avoid paying dues, fees, etc. to basically have an inactive RE agent's license simply to refer out to another agent/broker?

Thanks in advance,

Garrett

Hi @Nate Hedrick,

Thanks for reaching out to fellow pharmacists.

I haven't started investing...but have been listening to BP and reading up on it whilst being a resident...which is why I haven't started haha. I've always heard a wise investor can make as much/more than doctors/pharmacist/etc. because we're too stressed/worn out and don't know what to do with our money...ie: your point on no education.

I'm hoping once i get out of residency I will be able to start my own real estate side hustle...but I agree w/ 

@Jason Chen that a diverse group would be more beneficial if pursuing a syndicate/group deals.

I personally am more interested in solo investing (in the Milwaukee, WI area) as I'd like control over my assets (type A? = all pharmacists? hahaha). But if the right deal/offer came along I might be persuaded into a group venture.

Count me in if you're forming a group (Midyear meeting?) as I'd appreciate any guidance from like minded individuals.