All Forum Posts by: Iverem Rose

@Edmund Ricker After you pass the test, the logical step would be to find a broker willing to find an office where you can hang your license. I don't know the costs in Maine, but in New York a brokers have pay $20 to Department of State to add new agents to the company. The costs vary depending on the company. If an office is a member of the MLS, then agents must pay yearly dues to their affiliated office to maintain that membership. Since you intend to use your license for the purpose of finding property to buy, make that known to every brokers you interview with and see how they respond.

With wholesaling, you are opening yourself up to fines and other legal problems if you don't have a clear idea of what you are doing. You are essentially acting as a broker matching buyer with seller. And in New York, its illegal to benefit from the sale of a real estate transaction without a license. With that being said, the concept of placing a contract and flipping the contract to an end buyer is very prevalent in my market. But its often to the detriment of the seller because the wholesaler makes the property undesirable by inflating the price to make a profit. 

@Dominique Coleman. It all depends you. I dont think you have to become a realtor to start your career. There are many ways to skin a cat as they say. Try attending local meetup groups where are other real estate professionals congregate and network. Pick their brains and soak up as much wisdom as you can. Instead of becoming an agent, you can try to add an investor friendly agent to your team. Take him or her out to lunch so you can get to know each other and forge a relationship

@Josh Wagner. Ask Michael Quarles. He is an expert in direct mail marketing. Also try listening to podcasts in which he is the featured guest. He shares a lot of tips about content, best lists to mail to, etc.

@Kenneth Noronha I'd try to change my major to something related to business  and see how you feel before dropping out. Maybe by switching, you will be able to free up some time for yourself to continue learning about real estate.  If you do decide to drop out, make sure you have a plan in place because real estate investing is a tough business and there will be as many downs and as there are ups when you first start out. Seek out and ingratiate yourself to local experienced investors in your area. Offer to take them out to lunch and provide a service that fills a void in their business. Your willingness to help them will in turn make them more receptive to serve as a mentor to you and show you the ropes.

Hey Guys

Does anyone know when is the next meeting for Brooklyn REIA?

@Raheem Forsythe PM me as I have some suggestions

I agree with @ James Northrup that East NY is a potential gold mine for the investor who is savvy enough to ride it out as it transitions into a neighborhood. Property values have increased in recent years, there's more investor activity in form of flips and rental prices have been increasing significantly. All of this suggests that the neighborhood is in the midst of transition. I believe its appeal is mainly due to the several transit options available, i.e. J, A,C, 3, L trains. 

Yes, its true that ENY has a bad reputation when it comes to safety but the same could be said of Williamsburg, Bed-Stuy, Crown Heights 10-15 years ago. Now its extremely pricey to not only rent in these neighborhoods, (the average one bedroom rent is about $1900 and up; in the case of Williamsburg, its about $3000/mo. for a one bed) but to also own property as well (the average single family is over $1 million dollars)

Here's an article that supports the idea that East NY and the imminent wave of gentrification

https://www.brickunderground.com/live/gentrification-in-East-New-York

Hello

My name is Iverem Rose. I am a real estate agent based in Brooklyn New York. I got into real estate two years ago and have working as an agent for the past year. I am eager to start working exclusively with investors and acquire enough knowledge and capital for my own deals.