All Forum Posts by: Sal Fichera

@Andres Baena.  Sounds like you have your hands full.  I hope things are working out well for you.  I guess my initial concern, since I'm already incorporated, is how do i get listings up on MLSLI.  I called them and they are sending me a membership application. 

Wondering if I need to be part of a Realtor Association in order to be eligible?!?

Next time you're in NYC, reach out and we'll meet for coffee or something...would love to chat!

@Scott Wolf, yes, I agree.  I'll just pay to 2% or 3% commission to the buyer's broker, and keep the rest for myself, individually.  I think that is the best approach.  Thank you.

@Charlie MacPherson.  Thank you Charlie for the insight.  Its nice to learn from other people's experiences.  Thank you for taking time to comment.

@Jason Lee, in New York, brokers are less inclined to show their buyers homes that are "for sale by owners".  The idea is that those home owners are not willing to deal with brokers and are not willing to pay a broker commissions.  

If I list my fix and flip as a home "for sale by owner", I will eliminate a whole audience (the audience that brokers will bring).  If I list my fix and flip via my RE company, I capture all those buyers currently using brokers, AND I only pay half the commission. 

Thoughts?

thank you @Seth Ferguson.  Interesting comment.  I'll keep it in mind as I move forward.  Be well.

I am an attorney with some real estate brokerage transactions under my belt.  Recently, I decided to partner up with my wife (yikes!), and about 2 months ago we purchased a home to fix and flip.  We are still under construction, but I decided to incorporate my own RE brokerage company (as i can do that in NY bc i am a licensed attorney).  The objective is to list this particular property as the agent, and split the commission between the buyer's broker (if there is one), and my company.

So now i have a NY licensed brokerage company sitting dominate until I'm ready to list my property.  I'd like to try to do some transactions, and was wondering what the best approach would be.  My initial thought was to seek out RE sales associates and try to entice them to partner up (offering them bigger commission than they're currently earning).

Was just looking for some ideas and advice.

Thank you all in advance!

Thank you both Colin and Chris for your advice.  

I met with 2 gentlemen in the wholesaling business, and they need my services as an attorney/re broker.  My ultimate objective is to either participate in the deals, or orchestrate and finalize closing the deal (as attorney and re broker).  I was thinking that wholesalers need a person like me on their team.

I am a NY Barred Attorney and Licensed Real Estate Broker and am interested in getting into the business of wholesaling properties. I feel that my licenses will be a good asset in the industry. I want to hook up with existing wholesalers that possible need my legal and/or real estate license to streamline their deals. I would like to work side-by-side them to learn the wholesaling business and possible participate in their deals, and to find deals of my own with their guidance.

Any thoughts on how to start my search for these wholesalers?