All Forum Posts by: Napoleon Georgatos

Good afternoon everybody!

Happy holidays! I have a very quick question regarding my first deal. I have clients of mine who I negotiated into a 14 month lease. I would like to know if I am supposed to base my commission off of the GROSS ANNUAL RENT for the 12 months RENTX12XCOMMISSIONRATE or the 14 month term of the lease RENTX14XCOMMISSIONRATE.

If anyone has any insight, please let me know! Is it entirely my decision as an agent and the agreement I make with my client?

To the member of the BiggerPockets community, thank you for taking the time to read this post!

I am 26 years old and I am looking to dive into the world of Real Estate head on. My ultimate goal is to become an investor in both residential and commercial properties. I recently sold my pizzeria for a decent amount of money and I am at a crossroads. Prior to taking on the family business I was a licensed Real Estate Salesperson in New York State. I still have my license just to maintain the opportunity to jump back in if I desire.

I am going back to school for a BBA in Real Estate. The main objective is to learn higher level Real Estate terms, financing strategies, aspects of development, valuation, and surround myself with people who are interested in the business as much as I am. I know a lot of these things I can learn on Google or here on BiggerPockets, but I feel the institional education and organized structure will help me see things more clearly. With this , I plan to get an internship with a Real Estate company, whether it be as an analyst, or JR Property Manager. I have not fine tuned what type of work I'm looking to pursue, so input would be greatly appreciated.

I also have the option to jump back into sales and pursue my Brokers license. The reason for this is the organic relationships you build with other industry members and the luxury have a great network of people to speak to or consult when making deals happen. I was told by someone I know to pursue a "Front Office" job, where I am the "deal guy" and having a brokers license would only benefit me here in terms of initially being hired and having a leg up on other applicants as well as just knowing the right people when the time comes to make these deals happen.

All the while, if I'm not overextending myself (which I will identify when the time comes) I would like to purchase my first investment property and start the road to being an investor.

Please, give me questions to think about, insights you may have, objections to my career path, etc. I want to be a successful Real Estate Investor. I want to be knowledgable and confident in what I do. Am I doing the right thing?

For clarification, I am in New York City, and my Real Estate career will likely be focused on the New York City markets, but my personal investments will be out of this expensive market until I can actually afford to invest here.

Originally posted by @Kim Stofan:

Hi @Napoleon Georgatos, welcome to BP!  If you haven't already, make it a priority to get out a local Real Estate Investors meet-up. Interacting face to face will help tremendously with forming those critical relationships to aid your progress. Experienced investors will want to help you if you show initiative, drive, and genuine interest. Focus on how you might be able to help them in their business!  For out of state investing, David Green's bookL Long Distance Investing is a must read!  Good luck!

Kim, thank you for the insight. I've always had it in the back of my mind to attend the REI meet ups in my local area. Time to do it. I'm going to purchase David Green's book and make my way to my first meeting next week. Thank you!

@Meir Rosner

I appreciate the insight of your research methods. I think the keys to take away are BP posts related to the area and most definitely the Comprehensive Annual Financial Report. Absolutely massive key! I've never seen that post prior to today. Thanks a million.

@Alex Franks

I'll be sure to check it out and see what's available in my area. Thank you!

Members of BP,

I'm a rookie at REI and I would love to increase my level of education on the subject in order to have my first deal done by September 2019. 

That being said, I live in New York City and as we all know, the prices here are out of reach for a rookie and I'm looking into other markets with a lower cost of entry into the game. 

For those experienced with long distance deals, what resources do you use for your market research in targeted locations? Granted, some of the metrics I believe are important to factor include:

1. Population growth
2. Rent demand
3. Job availability
4. Market comps

These are clearly important metrics, but at the same time it seems like I'm missing a few key factors. I'm seeking secondary markets to large cities with manageable commute times to areas with high job demand. This model is reflected of my current situation living in the outer boroughs of New York City. C to B- neighborhoods. 

My question to you is what else can I and should I be looking for and where can I find that information? How reliable are Market Growth Reports on Zillow? Is the Census a good resource to use for macro trends in population growth?

I appreciate in advance the help and advice.

Hi BP!

My name is Napoleon and I'm 23 years old. I'm on Bigger Pockets to fuel an interest in Real Estate and more specifically, Real Estate Investments. I like to consider myself ambitious and I look forward to utilizing the education I get here to I can dive into the world of Real Estate!