All Forum Posts by: Terrell Sapp

Hello All,

In November, I started working for the MTA and it's taking much of my time. I am a licensed realtor and right now, I'm OVER my analysis paralysis. It's time I start, invest in my Buy & Hold career. Just ready to learn hands on, build, connect, fail forward and create legacy. Currently, I have a family member will be my private money lender, lending up to $25k. With that in mind, I plan on going for the FHA loan on a Multi-family. However, I have not applied for a loan yet and here, at this point, is where I would like clarity:

1. Should I apply for the loan myself to see how much I qualify for? 

2. Ask someone else to put their name on the property? (Perhaps my PML) 

3. Create an LLC or Sole Priority to have on the property?

What would you do if you if you were me knowing you had $25k to get your first investment property?

Hello All, In November, I started working for the MTA and it’s taking much of my time. I am a licensed realtor and right now, I'm OVER my analysis paralysis. It’s time I start, invest in my Buy & Hold career. Just ready to learn hands on, build, connect, fail forward and create legacy. Currently, I have a family member will be my private money lender, lending up to $25k. With that in mind, I plan on going for the FHA loan on a Multi-family. However, I have not applied for a loan yet and here, at this point, is where I would like clarity: 1. Should I apply for the loan myself to see how much I qualify for? 2. Ask someone else to put their name on the property? (Perhaps my PML) 3. Create an LLC or Sole Priority to have on the property? What would you do if you if you were me knowing you had $25k to get your first investment property?

Hey Remo, congratulations on getting your license. It depends on what you're trying to do and how fast, also your knowledge of real estate already. Do you need a lot of guidance? What I would recommend is interview with a few brokerage in your area or the areas you'd like to work in since each firm offers different fees, splits, and trainings. I started with a company Citi-Habitats in Manhattan while I had a full time job(wasn't the best move). They gave me a deadline to hit 6 deals I believe 3 month, someone correct me if I'm wrong. I didn't make the cut but I seen others do it in a shorter time so it's possible. Being basis, Keller Williams is pretty good with their trainings and classes. People go to Charles Ruthenburg for the %95 commission spilt. There's many firms Remo, like I said, interview a few and know what you what to do. Good luck. If you have any questions feel free to ask me

Hello Steve. What I would start with is Scripts. Learn the questions to ask, learn how to overcome objections and you'll be better off than many agents since you're already buying leads or OK with doing so. You've done rentals so hopefully you know the market. Which cells it's something to experience I would not wait reading books (not that it's a bad thing but nothing beats experience and are you going to retain everything you read in the book and how long would it take for you to do so? Just getting to it). I did rentals in Manhattan and started sales in the Bronx. Also if you don't do so in business already keep a database and System for dealing with clients,that along with Scripts, you will be better off. Hope this helps. Any questions feel free to ask

If anyone has questions about real estate in The Bronx and Westchester area, feel free! I am a licensed Realtor looking to assist!

Can someone tell me how to perform an interior BPO on the property that is nearly completed with renovations in Brooklyn? What is the results if I make a mistake on my opinion? What should be in the report? All help is good for me now.

Hey BP family,

Today I was informed about a vacant multi-family home in my area. I want to be able to find the status of, such as price, whether or not its foreclosed or REO or if it's an absentee owner behind it. With an interested investor I know, I tried to do some digging.

I had an agent look it up in her database and nothing came up in regards to the home. Zillow and Trulia gives different estimates and no other information about it. 

Right now it feels like I reached a glass ceiling and I would truly appreciate wise words on how to move forward.

Originally posted by @Joel Owens:

Do your research and focus on NOT what Is listed but what is SELLING. That shows buyer demand in the marketplace.

You could go out and list like gangbusters but if the product you are selling is not desirable in the marketplace then you are on a sinking ship.

Have inventory of what buyers want to buy and not want sellers want to sell. 

 How would I know what is selling exactly? Is there a site thats shows what is desirable or selling most in a particular area?

Nice. Welcome to the world of BP ! 

Great tools, people, forms, podcast, blogs, etc to learn from here. 

Stay in touch

Hey, Welcome and congratulations on your license ! I just received mine as well.