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All Forum Posts by: Herman Herrera

Herman Herrera has started 2 posts and replied 30 times.

Post: Negotiation Book Recommendation

Herman HerreraPosted
  • Real Estate Broker
  • New York, NY
  • Posts 30
  • Votes 22
"Trump Style Negotiation" By George Ross George Ross was Trump's attorney for decades and writes about Trump's negotiation style. Politics aside, it's a good book on negotiating style and strategy.

Post: Become a flea trainer

Herman HerreraPosted
  • Real Estate Broker
  • New York, NY
  • Posts 30
  • Votes 22
Thank you for taking the time to write this post. Awesome!

Post: what do you do for office space?

Herman HerreraPosted
  • Real Estate Broker
  • New York, NY
  • Posts 30
  • Votes 22
I worked out of my basement for several years until my business grew enough to warrant expansion. And when I finally did, I wish I'd done it sooner. My business tripled the first year out of my basement. 12 years later, I'm fortunate to have 3 offices, 2 here and 1 in Manhattan. My advice would be to start in your house, grow, and then get an office to "legitimize" your business.

Post: A Classic Book To Get That "Think Big" Attitude!

Herman HerreraPosted
  • Real Estate Broker
  • New York, NY
  • Posts 30
  • Votes 22
"Art of the Deal" is a must read along with "The Richest Man in Babylon" "Rich Dad Poor Dad" Slightly off topic but still related... "Shoe Dog" "Crush it" I try to read a little everyday.

Post: My $8000 problem. Do agents really deserve $200+/hr

Herman HerreraPosted
  • Real Estate Broker
  • New York, NY
  • Posts 30
  • Votes 22
You can belittle anyone's job. If you think it's easy and you have the know how, do it yourself and stop bitching about it.

Post: Flooring questions for my first Rehab

Herman HerreraPosted
  • Real Estate Broker
  • New York, NY
  • Posts 30
  • Votes 22
Marcus Hendren Sand and poly the existing floors, if possible.

Post: Initial Savings Needed to Purchase Multiple Rental Properties?

Herman HerreraPosted
  • Real Estate Broker
  • New York, NY
  • Posts 30
  • Votes 22
Get a job and invest....rather than type it again just read Greg S. post above. Read it twice. REI is a fantastic stream of income but it takes years to master. And for every success story, there are probably a dozen or more failures.

Post: How to avoid Capital gains tax?

Herman HerreraPosted
  • Real Estate Broker
  • New York, NY
  • Posts 30
  • Votes 22
No question...wait the 10 months. Big surprise your agent says sell now 🙄 there are less than 800 residential properties on MLS right now (usually we have about 2,000) and new listings priced at market are selling within days. I've never seen a market like this and I've been doing this since 1994. If you absolutely can't wait the 10 months, then sell now and rent for awhile. It's a great time to sell...bad time to buy. Good luck.

Post: Seller backing out in NY

Herman HerreraPosted
  • Real Estate Broker
  • New York, NY
  • Posts 30
  • Votes 22
No deal if the contract isn't considered executed by both parties. You either get into the bidding war or walk. Also not sure why you paid your attorney prior to closing. Never heard that one before. Attorneys get paid at closing in NYC.

Post: Pay off credit card debt before investing in real estate?

Herman HerreraPosted
  • Real Estate Broker
  • New York, NY
  • Posts 30
  • Votes 22
Pay off all credit card debt. Think of it like this...you're paying 15-25% interest for credit card debt. Where are you going to find a 15-25% return without any work or risk involved? And I wouldn't cancel any credit cards until you sit with your bank or mortgage broker. It may negatively impact your credit score depending on how long those cards are open. Good luck.