All Forum Posts by: Mallikarjun Reddy Pateel

@John Apple

make sure to double read Buyer’s agreement they Signed. If it’s a Property that you showed to the Buyer you might be entitled to your Commission.

If they signed Exclusive right to represent with you, they owe you Commission no matter what.

Re asses yourself, if they Purchased with another Agent either you didn’t do your Job right or you didn’t had that Rapport with client. there is bad Clients too, or another Agent showed them a Value you lacked.

I know how frustrating it can be pouring your time & emotions in to the deal.learn from it. Keep moving

I find this Property in Brooklyn, capping at 6.5% Purchase price is $1.5 Mil. has 8 Units.

When I look at the Numbers Rents are almost 50% below the Market Value, sounded Like a Value add. During diligence turned out its a Rent Stabilized Building.

my Question is if it’s a Rent stabilized Building and Rents are Way below the Market value can you apply to Municipal Board to Make it up to the Market Value? Or Can you get Section 8 Clients to fill the Vacancies to Charge them Market Value( because I know Section 8 agencies verify the Rents based on Market value)

@Paul Moore

Thanks for the Encouragement! I will definitely do that. I might be right or wrong on my assumptions but when i speak to someone who’s doing this for years I will get an idea whether that’s the path I wanna take or not.

What do u think of CRE Based on your Title?

@Keira Watson

Whether it’s a Luxury or Average the Process is Similar the handling style might be different.

Start small get in the Process Close couple of Deals that forms a Self Confidence. If you’re dealing with Upscale properties you’re dealing with Highly Financially educated people so you need to learn their Language

@Rocky Ahmed

I tried doing the opposite got my NY License, was looking to obtain NJ there is a way to do that.

Check with NYS board what is the Procedure to do that, I’m sure they can Waive that 75 hour study

@Chris Fentiman

If you can provide them value or a Solution to their Problem they’re good.

but typically the conversion Rate is typically Lower than people you know or people they know. People love doing business with they know & Trust.

Show up your True Personality, build rapport from that First Call you can have a Impactful Business with those Paid leads too,

@Charles Kao

Agree, even the Commercial guy in our Office is big on himself not the KW.he built his Brand around him.

I think big Commercial firms have analysts and data teams who runs the deals and watching trends. which small or not so specialized in commercial brokerages don’t have.

can I run as a Solo Agent for Couple of Months get Leads on Social Platforms to close deals soon?

Hello BP, this is such an Amazing Community. Proves real estate Business is always Giving Back.

I’m a Newbie, here’s what I’m Planning to do.

Can I purchase a Property with 100% Private money hold on to it for Couple of months and then Refi it with Traditional Mortgage and get that Cashflow coming in. So that way I don’t put any money down. Is it even Possible?

What number of Cap Rate or NOI make sense for this type of Creative financing.

again I’m a Newbie I don’t if that’s Possible but share your Thoughts and advice. TIA

@Jason Hopkins

Yeah he made me realize wholesaling is more effective with off market properties

@Jerryll Noorden

Thanks dude, you made me realize that Wholesaling is about getting good deals to cash buyers. on market deals they can find too so I don’t bring any value.

you mentioned i need a Cash buyer, Personal money or funds before making that offer but How is that Possible? If my Numbers Correct and I’m very diligent I can still find a buyer after an offer made right? then I can find the Buyer