All Forum Posts by: Gary Dubovick

Heyy everyone!! I was just writing up a new business plan to pursue for the next couple years and I came across a question..... I know that a commercial properties' value is determined by the income it produces. So that means that any two commercial properties will be valued at the same price if they produce the same income (have the same vacancy..ect), no matter where they are located?? I live on long island and the prices of residential properties are significantly higher here then in most places. But a commercial property (ex. 24 unit apartment complex) will be of the same value as something with the same numbers in a different state?

@Account Closed

Thanks!!

And I decided to get my license because I will be finishing up with school in May and I want to start saving more money then I am now. I love real estate and couldnt imagine working in any other field. Its not my dream to be a real estate agent but It will help me make connections with different people and get to learn my local market better. Also because the price of homes here on Long Island are so high, real estate agents make a decent commission on sales :)

@Brenna Peak

Congrats on starting so young!! I'm 20 years old and just started doing reseach a couple months ago. I attended my first REIA meeting last month and it was amazing, the people that you meet there are so helpful and its great to build relationships with them if your just starting. My plan is to continue working my job and I just passed the NYS real estate test so I will begin working as an agent as well. My goal this year is to fix and flip one property and in the upcoming years focus more on fix and flips rather then being a real estate agent. Also looking to purchase a duplex as my first primary residence in the next few years. I didn't realize there was so many young people on here. Every "older" person says " I wish I would have started at that age" so I think with consistent and smart hard work we will be able to achieve our desired level of success at a relatively young age. Good luck to all!!

Nikolette Dwyer Welcome!! Im from long island and plan on doing the same thing as my first investment property. Definitely listen to the podcasts, they are extremely helpful and can give you different ideas. You definitely came to the right place if you want to learn alot. Goodluck!!

Luke MacDougall Welcome to the BP family! I'm a young investor located on long island looking to start some rehab projects as well. I'm also in the process of getting my real estate license. Definitely listen to the BP podcasts, they are super informative and helpful. Again welcome !!

From my understanding this depends on the terms between steven and the broker. I've heard where an licensed investor will just pay the broker a flat monthly fee. I've also heard instances where the broker would be entitled to a commission in the example given.

@Jessica Swingle Ok thank you!!

@Jessica Swingle Your broker does not care if you do wholesale or list and act as an agent because you are getting 100% commission. If a broker is getting a % of commission, would they forbid you giving the option of buying or listing to the seller?

@Robert Leonard Ok thanks. I understand how they differ. You brought up a good point though, I feel like the broker will look at my wholesaling deals as a way to avoid paying the broker. I can say that I will never convert any listing lead into a wholesale lead but I still see some conflict of interest. Have you heard of any active agents that wholesale as well?

@J Scott Thanks for the insight. Being located on long island where the homes are priced much higher then most of the country, earning a 3% commission is a decent chunk of money. Since I am so new to the industry I think that getting to know my area's market as an agent will benefit me in the future when I move onto fix-n-flips and buy and holds.