All Forum Posts by: Jeffery Goode

@Jeff Studer

@Shanel Wiggins is correct. If you manage more than one property for someone else then you must be licensed and operate under a broker or have a broker license (if you are only managing maintenance and not collecting or negotiating rents then only a salesperson license is required). And, remember by saying more than one property that is multiple units in one building. Each unit is a property for property management for State purposes. 

@Senad Pali

Hello, 

@Hem Kumar is correct. Since you are approved you should invest in property that will give you a return on your investment and a duplex would be ideal as it gives you either multiple modes of income or one income to offset your debt. the approval isn't enough for multi-family really depending on where you are wanting to purchase but it certainly is for duplex. There are many areas in the city that are growing. 

As a next step you should contact a realtor with investment experience and possibly some REO contacts to help you identify properties and run numbers on the investment to make sure your cap rate is acceptable.

Lots of use here will be glad to help you and if you need anything feel free to reach out as I will be glad to help. 

@Joseph Scorese

Thanks for posting this. I plan on attending. 

@Jordan Charles

Welcome to BP. Are licensed or looking to become licensed? becoming an investor? It helps to know a direction that you want to go. If you want to be an investory only then that is who you should work with. Maybe post some of your past experience here so that people who may be interested know what skills you possess. 

There are many real estate agents in Brooklyn that hire "assistants" that are unlicensed currently but are studying to become licensed. These people do a LOT of clerical work but they work in the industry and learn as they go. Most eventually become licensed and very successful. 

Let us know what you can do and we can find a way to help you. 

It all depends on the state. In New York it is illegal to give anyone but a licensed agent a referral fee or share a commission. I am not sure about Massachusetts. 

@Bernard Chouinard

3% of the sale price is typically what the buyers salesperson/agents commission is. I wouldn't believe I was getting a referral fee, let alone 3% of the sale price without an agreement in place. I will send you a copy of the agreements that I have and they are legally binding. 

@Sean Conrad

Welcome to BP. All the members are here to work together. those of us in New York are always ready to help our borough mates. Most of us work all the boroughs. 

Look forward to many discussions. 

@Thomas Leong

I used Real Estate U (I have been licensed prior in other states) for my New York license. I was very prepared for the exam and finished the state exam in about 22 minutes. I definitely recommend Real Estate U. 

This is a great property in a great location. Don't let the price tag scare you off. There is some room for talks. I can send more information and it is a trusted clients property. 

and here is a post on the plan to move people from Brooklyn to Manhattan. Not a large plan yet but they are getting there. Won't be as big a disruption for sellers as most think. 

https://www.dnainfo.com/new-york/20160725/bushwick/l-train-shutdown-heres-how-commute-between-brooklyn-manhattan