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All Forum Posts by: Jason Brodovsky

Jason Brodovsky has started 1 posts and replied 4 times.

The house is huge (5BR, 5BA, 2 kitchens) and I'm only asking $3.9 per square foot, but as a former church, and being in downtown Fulton, NY (nice place but obscure) it is a hard sell. It's listed with a commercial broker who, I'm sure, is doing a good job, but does anyone have ideas for finding such a specific kind of buyer? Someone who needs a lot of space. A large pastor's family who want to start a church and home business would be ideal. Or an auctioneer who would want the stained glass and pews, for example. Or an antique restoration or history buff (it's from 1841). Thanks.

Usually income is proportional to average house price and crime rate is inversely proportional to it, but if you find breaks in that pattern, that should be a good neighborhood to invest in. Also, news of major employers shutting down or the opposite could predict pricing changes. Also, Zillow.com allows you "fly" over neighborhoods filtering for foreclosures, etc. On MLS you can filter for recent sales that went through for cash, indicating investor activity. I have more ideas, if interested...

Post: Cash strategies

Jason BrodovskyPosted
  • Syracuse, NY
  • Posts 4
  • Votes 0

You're asking great questions. Yes, it's probably good to learn all you can about all the scams out there, such as undisclosed dual agency. I'm a wholesaler and I prefer not to work in cash-buyer hot-spots because the never-ending sucker supply attracts sharks. Environments that rely on the greater fool theory I find corrupting. I prefer to work in a stable bread and butter market with people like teachers and government workers who we assume passed a background check and are drug-free. People with major hobbies, intact families, religious affiliation and other non-money-centered things in their life I tend to trust more. I prefer people who are collaborative by nature, and show a win-win philosophy in how they communicate. Men are more likely to be the primary wage earner, so they might be under more pressure to cheat than women. I have seen women try to pull things, but in both instances it was a male supervisor orchestrating it. I find it is rarely worth working with a man if you can avoid it. It gets easy to hear when people are lieing, hiding their cards or up to something when you've been burned a few times but it's so much better to learn from the bad experiences of others. I think it is important to confront people early, have high standards and not hesitate to move on when they are not met. So, to answer your question, if you ask someone how they got into the business, what their personal philosophy is, and what their long term goals are, the right answers are helping clients, their children, others, etc. and less money, ego and self-focussed. But a bad, dishonest person will be much quicker to call himself good and honest than a good and honest one will. And he will probably believe it.

Post: Cash strategies

Jason BrodovskyPosted
  • Syracuse, NY
  • Posts 4
  • Votes 0

I like these strategies because they involve creative re-framing and combine purchase-end profit, stable rents, and sales-end gain: A)to buy the largest multi-unit you can where rents are lagging behind the current market, and reframe it (if tennants are on sec8, they may gladly be rotated into updated, if costlier, units)- then sell for cash to leverage larger multi-unit, repeat. B) turn a once rowdy vacant tennemant building into a quiet place for low income 55+ residents. C) find where new office highrises are being built and buy the nearby half-vacant senior studio residence. Repackage it for the busy young professionals who want to be able to walk to work and are several years off from promotions, spouses and buying their dreamhouses D)buy portfolios- folks who retire or inherit a bunch of motley properties will dump them all as a package for 40 cents on the dollar. Become a trusted affiliate with a first-time home buyer recruitment/education center and sell the portfolio houses individually at market rate, or slightly higher with lease option or owner financing. E)Use wholesalers, since, unlike realtors, their reputations and livelyhoods depend on maximizing cash investor profits.