All Forum Posts by: Jordan Caroleo

Hey BP!, Newer investor here. Do condos make good BRRRR candidates? There are some lower priced (I understand "cheap" doesn't always mean "value") condos in my area, and after running some numbers, I feel I can rehab and rent them out to cash flow in the low hundreds (after expenses, commons, etc). Anyone have experience in this before? Would love feedback! Thank you guys!!

Home criteria is <$200k, minor fixer-upper, preferable multi-family (but not 100% necessary).

Realistically, I'm planning to do 2-3 of these in year one. 3-5 in year 2 and then, after year 2, 7+.

Good Morning BP!, I've been an agent based out of Long Island, NY for about 3 years now. With family, I've also purchase 2 multi-family homes that are currently rented out with model tenants. You can say my RE investing career has been pretty good so far. What I've been planning as "part 2" would be to start a Rent-To-Own fund with a closed group of investors. I would pre-screen the tenants/clients, then show them homes for sale that they would be interested in renting. My syndicate would then purchase the home (cash) with a lease pre-signed by the tenant. Tenant would agree to a 1-2 year rental beforehand. After the term, the tenant would have the right to purchase at a pre-determined price, or leave. During this time, we would be collecting cash-flow, so if the tenant didn't decide to purchase, we would have that small cushion anyway to either sell or rent. My role would be to screen the tenants and manage the properties as well as contribute capital to the purchase. In NY, an "issuer" (that would be me) doesn't have to file an offering plan or prospectus if the syndicate is <40 people. What do you guys think? Is this something doable? There is a strong rental demand in my market, and a healthy demand for RTO's.

Hello BP community!

I'm relatively new as a real estate agent (>10 transactions) and I wanted to see how other agents went about their lead generation. Mainly, I wanted to focus on generating prospects for new development listings.

Yes, I'm working with my colleagues as well to better understand this area of the industry, but I just wanted to reach out and see what others abroad were doing as well.

As for location, I live in NY and focus mainly in Suffolk/Nassua/Queens (pretty much up to, but not including, Manhattan). This means I have access to everything from condos on the shore, to high-rises on in Brooklyn in this greatly diversified market.

Any advice and tips are GREATLY appreciated!

I intend to, believe me!

I just learn faster through tangible experience. That's all.

I definetly value the BP community though.

Why hello there!,

I'm seeking a mentor based in NY/NYC/LI to get some experience in wholesaling. Mainly, I just want to understand the method through experience. I have personal investing experience (mostly residential deals), but I just wanted to explore this potential opportunity. I would enjoy picking the communities brain on the topic.

PLEASE feel free to link me to readings, guides, stories, etc as well.

Any takers?

I would assume it's an independent contractor relationship. Only because I don't think MOST brokerage houses list their agents as employees.

The only reason I was thinking of this scenario, and also for the possible tax incentives, is because of the liability protection that comes with it.

But I agree that a tax professional would probably better know the answer.

Any other contributions?

Hello all,

This is my first post on the BP forums. I'm a long time blog reader and I'm just getting started with my own real estate "soon-to-be empire."

I passed my pre-sales exam and received my license a few months ago. Prior to which, I, along with close family and friends, have been acquiring properties for long-term investing and rentals around the NY & LI area as an "undefined" syndicate. This is done under an LLC which ownership equally distributed.

Getting to my question...

As I'm going to become and agent under a brokerage (which I wont mention) should I incorporate myself and defer all earnings from my agent-related business to an LLC? S-Corp? Etc?

Is this possible? Pros? Cons? Tax incentives? Insurance?

Thank you all for your time. I'm looking forward to contributing and becoming a firm member of the community.