All Forum Posts by: Mark Weinstein

@Ana Marie B.

Hey Ana,

I don’t have family to turn to and even if I did, I would be too embarrassed to even ask.

I applied for SNAP the same day I applied for unemployment (forgot to mention, I kind of group both as one for some reason). The time to wait for the benefits is the same as unemployment so I’m still stuck in the same situation until both of those come in.

I will look into local food pantries as a way to eat for the next few weeks. I just moved to NY a few months ago and I’ve never been in this position so I’m not too familiar with how it works but I’ll do some research to find out.

Thank you so much for your help!

Hey BP Fam,

Let me start this post by saying that the Covid-19 pandemic is effecting millions of people worldwide and people are literally losing their lives. I understand how grateful I am for my health and I understand things can be much worst. This post isn’t some “Why Me” post, it’s simply to see how other people in our field are dealing RIGHT NOW, not later.

Things are very bad at the moment and I’m wondering am I the only one financially struggling THIS bad? And by financially struggling I don’t mean having tenants not pay the rent, owing back taxes, not being able to close a deal, etc. When I say financially struggling I mean literally having $25 in your bank account with no direction on where my next dollar is coming from.

Everything in my state (NY) is shut down so it’s not like I can do some PT work to make ends meet. Even the restaurant I use to bartend at is closed and they NEVER close. Manager told me they had to lay-off hundreds of employees so I’m sure others are feeling my pain.

I’m relatively new as a real estate agent so I’m living commission check to commission check with very little savings. When the state was shutdown in mid March I had only about $800 in my saving which is now down to $25 so I’ve officially hit panic mode. To my other fellow realtors, how are you bringing in any kind of money to even survive right now? It wasn’t like we had weeks/months to prepare for this occurring, everything seemed to happen in a flash. I’m sure most of you have enough in Savings to help you get through this, but to those who don’t do you mind giving some advice on how you’re getting through this crazy time?

I filed for unemployment last week and they’re telling me it takes 3-4 weeks to receive your first check. My 2018 Tax Return didn’t use Direct Deposit so who knows how many months its going to take to get the Stimulus Check. The two forms of assistance the government is offering obviously helps but what are people without income doing NOW? Obviously $25 isn’t going to stretch until that time so I’m in panic mode wondering how I’m suppose to live. If you would have told me a month ago that in a month I would be in the position I’m in right now, I would have laughed.

Anyway, any advice/input/suggestions/recommendations are much appreciated. Trust me, I need all of it that I can get. Thanks in advance for your time guys!

@Nathan G. Thanks for your feedback, much appreciated!

Hey BP Community,

Long time viewer, first time poster. I’m in a serious rut and would love some feedback from some of you. I’ve had my real estate license for about 4 years but never put it to use. I want to change that in 2020 as I’m getting ready to quit my FT job (with a company I’ve been with for 10+ years) to become a FT Real Estate Agent. I’ve been preparing for this for over a year by saving money (we all know the pay droughts that can occur especially when starting) and I’m ready to hit the floor running.

There are a couple things I would love some feedback on:

1) I created a daily schedule I’m going to try following which consists of 3.5hrs prospecting daily (5.5hrs for days with no appts/showings). Would you consider this too little/too much/just right amount of time for prospecting?

2) Am I wasting my time by incorporating referral income to my real estate business? In a different market that's not too far from my location, house prices are extremely expensive (median home price is $1.2M) and I'm fortunate enough to have 4 good realtors who work in that market. I was going to dedicate an hour of my daily prospecting to calling FSBO's & Expireds in that market, then referring the business to one of the realtors I know in that market at a fee. I figure it's a great way to earn money by doing minimal work but at the same time I feel like I can be spending that hour to prospect in my own market. Do you guys think doing this is a good idea or could I be spending my time more wisely?

3) Other than your local MLS, where do people go to get market information? Things like demographics, price trends, etc.?

4) A little off-topic from the general agent questions but my long-term goal is to get involved in real estate investing so I’m trying to incorporate wholesaling properties into my daily schedule as well. How do most people prospect when wholesaling? My initial plan was to drive around neighborhoods and keep an eye out for properties that look to be distressed but I would assume there’s a more efficient way than that?

As you can see, I’m determined in working smarter and I understand time is our most valuable asset. I’m wondering if some things I’m planning to do make sense time/money wise and would love any feedback you guys have to give.

Thanks in advance for your time!