All Forum Posts by: Patrick Martone

You shouldn't have to do anything you don't want to do. If you find some excellent wholesalers in your area, you will be in luck. The hard part is finding the rockstar wholesalers and agents. The rockstar wholesalers already have the same buyers that buy up their properties quickly in cash. Looking on MLS for deals is pretty tough, but if you have that much time to kill to look through 50-60 new deals a day, it's doable.

Have you tried going to your local REIA to look for partners? Sounds like you hate the most important part of REI, finding deals. That's completely fine though, there are other people that love that part and hate the other part that you're good at: construction/rehab

I plan to attend meetings religiously after my line of credit goes through. This way I have exact numbers and a better idea of criteria when interacting with people.

How would you structure a partnership if I am doing the labor and the partner is finding deals?

Even if our equity was a perfect 50-50 I think our responsibilities would be valued a bit differently.

1 Vote

@Ron S. even if I was paying in cash?

0 Votes

Originally posted by @John Spina jr:

Im currently in the process of starting my corporation. Waiting for the paper work from my attorney. After everything is finalized ill be looking for handy and knowledgable people to help with renovating and home improvement jobs. Would you be interested working in Staten Island?

I'm goin to message you now.

0 Votes

I think I am being lazy. I have equity and construction experience I have sorted my financing. Now I am beginning to look for deals. I want to find MFHs and SFH in need of rehab in this competitive market (NY/NJ/PA). I am a builder and I want my time and energy allocated towards that. I do not want to mail letters and test different methods. I sound like a brat, but I just want to rehab, and only list with an agent.

get re license for myself (only to finance my deals)
1. I hear its not as simple as just hanging your liscense at a brokerage.
wholesaler
agent
Partner with an agent who can match my equity.
1. he/she would find deals, i would rehab them, he/she would sell them.
outsource direct mail and internet marketing?
am i being lazy? Do direct mail and website myself though I really do not want to?

0 Votes

I am looking for part-time work starting in November while I search for my own property which I will be renovating. I can provide my experience, credentials, and references upon request. I can also provide tools.

I am hoping to work with a seasoned investor or contractor where we can add value to eachother.

1 Vote

Matt Leonard i am in the process of being jerked by TD. I think i will apply to a credit union on the side. The loan processor is incompetent.

0 Votes

@Basit Siddiqi Where in BK are you from? I grew up in New York. Are you based in NYC receiving cashflow from Allentown? I considered Allentown but know little about the ins and outs.

I only know scranton and stroudsburg as I pass them going to my PA property on I80.

0 Votes

have you heard of regulations where an agent isn't allowed to sell their own property?

1 Vote

Originally posted by @Ray Lai:

@Patrick Martone

Tons of benefits to getting a real estate license, here a couple main ones:

1) Save on commissions on both the buy and sell end if you're looking to use a realtor

2) Legitimacy when you network

3) MLS access for easy comps

4) See a house with a sign? Can contact agent and get an electronic lock box code sent to your phone usually and walk right in rather than wait for someone

5) If you ever want to put in lots of lowball offers, this is the only way. Most agents wouldn't want to waste time helping an investor do that since it's low probability.

6) Hard to find a good investor-oriented agent. If they are, they might pick up the best deals for themselves and you get the leftovers

7) My fav: Expanding your real estate toolkit - rather than just wholesale properties when someone answers your marketing, you can now service homeowners with quality homes. That means you'll offer multiple solutions to sellers rather than only being able to buy from distressed sellers. Being an agent means you can now earn a sweet commission from people who have the resources to fully renovate their house to sell for top dollar

0 Votes

Originally posted by @Rachel N.:

What about investors who are getting the license just to get access to the MLS, to view properties without having to ask an agent to take you, to have more control in making and managing your own offers, etc? How do you manage the brokerage apprenticeship part if you don't actually plan to work as an agent, aside from your own deals?

I am in the same boat as you, I worry about the opportunity cost.

0 Votes

All Forum Posts by: Patrick Martone

Patrick Martone has started 37 posts and replied 125 times.

Post: Crossroads, Am I being lazy in the marketing department

Post: Bank Owned vs. Auctions- where are the better deals for SFHs?

Post: Helper looking for work in NY/NJ/PA (or general northeast) area

Post: Crossroads, Am I being lazy in the marketing department

Post: Helper looking for work in NY/NJ/PA (or general northeast) area

Post: Best bank for a heloc or credit union in New Jersey or northeast

Post: Hot Markets in North east PA for SFHs?

Post: New investor needing help on a marketing/acquisition strategy

Post: New investor needing help on a marketing/acquisition strategy

Post: Real Estate License?