All Forum Posts by: Vincent Fiorilli

Thanks for the reply. I don't really care about the training as I'm only really interested in having access to the MLS and saving commission on deals when I find them.

Just wondering if there are any local options and maybe one brokerage to cover both New York and New Jersey. The initial searches and investments will likely be in New Jersey as well. I decided to take the New York test first because I had different ideas when I started.

Hi All,

I just passed my New York City real estate exam. My goal is to find a sponsoring broker for doing investment deals in New Jersey and New York. I believe I need to start in New York, but does anybody have any recommendations for which company to sign with? Not sure if I should be looking for a bigger company or a small or local broker.

Great so the way that I am reading this equation PP x CR = NOI is that the NOI must be at least 1.25 of the monthly payment for the investment to begin making sense.

Thank you very much for the insight everyone I randomly picked this property for mathematic purposes. 

@Thomas Santella if i have additional questions about properties in the NYC area (which I am sure that I will haha) i will definitely reach out!

Thanks Thomas. So for instance on this property https://www.loopnet.com/Listing/189-Wyckoff-Ave-Brooklyn-NY/... based on purchase price x cap rate I have an NOI of $84,500 or $14,083 per unit. How do I do the next equation of IR + RF?

@Thomas Santella

Hi All,

I am beginning to research commercial multi families to invest in in NYC. I am wondering how much information you can garner from the listings (I have been using LoopNet) and at what point do you inquire further and what is the next step?

How can I ensure what the rent rates are and how profitable the building really is? When looking at properties for sale are you also looking for local rents on a different site to get a feel for the area market (which sites)? What are the best initial calculations to run and how do you know when to investigate further?

Looking for some general know how. Thanks for any respo;nses!

Hi All! I am currently a salesperson selling warehouse supplies throughout Brooklyn & Staten Island. From this job I have seen plenty of opportunity with tenants leaving and looking for industrial space. I am getting my real estate license and speak with brokers in hopes of getting a piece of the action. My ultimate goal is to make money on these transactions & buy multifamily real estate myself. I am saving & learning eagerly and ready to take the initial steps.