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All Forum Posts by: Albi Kociu

Albi Kociu has started 3 posts and replied 10 times.

Post: Heights Jersey City Realtors

Albi KociuPosted
  • North Jersey
  • Posts 13
  • Votes 5

hey guys. i'm a realtor in that area and i've been keeping my eye on the investment side of things there as well because i'm looking to invest myself at some point. shoot me a message if you want to chat

Post: Dropping out to become an investor

Albi KociuPosted
  • North Jersey
  • Posts 13
  • Votes 5

Ok, I'm going to take the other side here. 

A college degree is absolutely useless when you have the mindset that you do. It is especially useless if you're taking on student debt. I obviously don't know you at all, but from the way you write, I can tell that you've got a good head on your shoulders. You've clearly put some thought into this and what I would say is, take everyone's advice with a grain of salt. At the end of the day, everyone has their own biases and own life experiences that are factoring into their replies here. 

With that being said, I got my college degree 8 years ago because it was just the thing to do. Anything else would've been absolutely unacceptable to my parents. I didn't even consider entrepreneurship and not working for someone else as possibilities, even though that's what I had been wanting all along. I can tell you that every job I've held since college has been soul-crushing and not related to my degree at all.

Speaking of degrees, I noticed you said engineering wasn't what you thought it would be. That's the case for every major that you can pick, and that's the big problem with college. Asking kids who are in their late teens to pick what they're going to do for the rest of their lives is ludicrous. No one has any idea what that job looks like on a daily basis ... and especially what that job looks like 10 years from now. Technology is advancing so rapidly that there is no way colleges can keep up. They are ancient institutions and haven't evolved since they began. Now you see some schools offering online classes for free (which is diluting their brand, because it is now less prestigious to have a degree from a big time school when I can just take those courses online for free). 

A college degree matters less and less every day. In 10 years, it probably won't matter at all. I say that keeping in mind what you wrote in your original post - that you have that yearning to put in the WORK and learn RE investing. If you have that entrepreneurial drive and hunger, you will be just fine learning on your own. I was nowhere near your mindset 8 years ago.

Another thing to keep in mind is that your mind will change over time. You can really like RE investing now, but when Virtual Reality comes around, maybe you really get into creating VR games. You have to realize that interests change over time. And that's completely ok. 

Getting a degree in something "general" is a COMPLETE waste of time. You learn nothing that you're going to use in the real world. Unless you're going to be a doctor or lawyer or something specific that requires a degree (and it doesn't sound like you are), I'd say drop out. BUT, you have to understand that you need to be practical at the same time. You need to make money (unless you're going to live at home and your parents are going to support your entrepreneurial ambitions). As long as you're willing to put in the WORK, you don't really need college. 

/rant

Post: Working with Builders

Albi KociuPosted
  • North Jersey
  • Posts 13
  • Votes 5

dang. sorry to hear that Jd.

Thanks for the replies guys. I have a better understanding now. 

one last thing: I've put together a list of builders I'd like to reach out to. What would be the best way to get in touch with them? email, phone, show up at the office? I know it will vary, but in general what's the best approach?

Post: Working with Builders

Albi KociuPosted
  • North Jersey
  • Posts 13
  • Votes 5
Originally posted by @JD Martin:

I don't build houses these days but if I was, yes. 

 Why'd you stop? Cause investing is more passive? 

Post: Working with Builders

Albi KociuPosted
  • North Jersey
  • Posts 13
  • Votes 5
Originally posted by @JD Martin:
Originally posted by @Albi Kociu:

Thanks for the answer Jd. 

Do you have any advice on how to develop relationships with these builders? Any idea about what they usually struggle with that I can help them with? I figured marketing might be one area. 

 Most of the smaller builders (like myself, once upon a time) struggle to paint the difference between their custom, one-off home, and the dozen that are being offered in the subdivision across the street for $10k less. Buyers can't see 2x6 walls, upgraded insulation, thicker t&g subfloors, 3/4" plumbing trunk lines, etc. Buyers see granite countertops and vaulted ceilings. Why does a Mercedes cost more than a Kia? Of course there's some things that have no value for the buyer - legacy, tradition, advertising, labor costs, mystique, whatever - but there's also things that do have value for the buyer, like tighter engineering tolerances, greater attention to NVH, higher quality components, etc. Next time you see a subdivision being built, look inside the walls. You'll often see pipes going haywire, thin or missing insulation, no waterproofing, etc. There's an area that a good agent can offer a lot of value. 

As far as building a relationship, those cannot be forced. Get one or two and do a good job, and more will follow. I like my agent, as a person, but as a buyer if he couldn't help me get good deals worked out I would go with someone else. His own reputation as a good agent offers me credibility when working with buyers I don't know. 

So ... marketing and branding. That makes sense. 

Just to clarify, when you say "as a buyer if he couldn't help me get good deals worked out" ... You're buying lots and you're using your agent to find the deals, right? Do you then usually use the same guy to sell the house when you're done building it? 

Post: Working with Builders

Albi KociuPosted
  • North Jersey
  • Posts 13
  • Votes 5

Thanks for the answer Jd. 

Do you have any advice on how to develop relationships with these builders? Any idea about what they usually struggle with that I can help them with? I figured marketing might be one area. 

Post: Working with Builders

Albi KociuPosted
  • North Jersey
  • Posts 13
  • Votes 5

Hey guys,

I've been trying to research this on the web without much luck ... and then I remembered that there's this site called BP that I'm a member of!

I'm trying to learn more about the process of working with builders as an agent - specifically on the listing side. I have a couple of questions:

1. Do most builders have in-house agents that work exclusively for them to list properties? I assume some of the bigger ones (who build condo complexes, etc) do, but what about the smaller ones who build one-off, custom homes? Who do they list their homes with? 

2. These small/medium size builders, where do they find customers who need a custom home built? 

3. Do most of these builders go the first route or the second? In other words, do they usually buy the land themselves to build a new home on and sell? Or do they mostly stick to finding customers who need new homes custom built? A combination of both? 

I'm not sure if those make sense. I tried to organize my thoughts as much as possible. I'm basically just trying to get an understanding of how the new construction process works... for big and small companies. Any insight would be much appreciated!!

Post: New(ish) Agent in NJ

Albi KociuPosted
  • North Jersey
  • Posts 13
  • Votes 5

Thanks for the reply @Robert Smith! I will definitely find out about the REO investing.

Yeah, trying to do/learn too much is definitely a problem for me. I'm trying to focus on doing 2-3 things really well as opposed to trying to do a thousand things at once. 

Post: New(ish) Agent in NJ

Albi KociuPosted
  • North Jersey
  • Posts 13
  • Votes 5

Hey guys,

I'm Albi. 

I am in my 2nd year as an agent and I just quit my job a few months ago to jump into real estate full time. I'm originally from Albania, but I grew up in Fairview, NJ and now I live in Hillsdale. I'm operating in the North Jersey area and I've been trying to get my business going but there is sooo much to learn and no real structure to teach it to new agents. It's been pretty frustrating, but reading around BP has definitely helped. But even on here there is so much info that it can get overwhelming. I am reading and liking Brandon's (no and low money down) book though ;)

That being said, I have a couple of things that I need help or guidance from the BP community with:

1. I've partnered with another agent in our office at Keller Williams and we work with lenders on pre-foreclosure properties. I came into this pretty early on in my career, and while it certainly seems like a great opportunity, I was just wondering if you guys could help me figure out what I have on my hands here. Is this really as good of an opportunity as it seems? I am definitely looking to invest in some properties myself, so it seems like a good way to be ahead of the curve on these potential deals, being that I would theoretically get my hands on them first, but with all these investors out there using pre-foreclosure lists, I'm sure I'm not the first person to know about these properties. 

2. With all the possibilities in the real estate game, it's easy to lose focus and get too wide. I need to narrow down my niche but I feel like, since Jersey isn't like most markets in the US, having experience in the business would be a big help in doing so. Since I don't have that yet, I'm hoping to get some feedback from some of you on here who surely do. 

  • Growing up around the Gold Coast, and also being a millennial, I am naturally attracted to that area. I'd love to be able to operate there and I think I'd be able to relate really well to the people wanting to move there. 
  • I also really like the idea of house hacking and eventually buying BRRR multifamily properties, which would also bring me out to areas like Lodi, Garfield, Hackensack, etc.
  • That being said, I currently live in Hillsdale (about 30-45 min away from those areas) and the homes up here go for a pretty hefty price on avg. It would also be nice to sell in this area. 

Dilemma. I think I would obviously be spread too thin trying to tackle all those areas and also do the REO stuff at the same time. Are any of those options better than the other according to the experience and knowledge you guys have? Or is it just a matter of preference and me just picking one? Anything else that I'm not thinking of that you guys have seen new agents my age tackle?

Sorry for the long post, but I have a lot of questions as I'm sure everyone does when they're new to real estate, and structuring them all into a clean and cohesive post can be challenging. I appreciate you guys so much if you read up to this point lol and I'm really looking forward to being an active member of this community!

Post: New member from northern NJ

Albi KociuPosted
  • North Jersey
  • Posts 13
  • Votes 5

Sup guys!

Name's Albi. I'm new to the forum and relatively new to real estate. Got my license at the beginning of the year, but haven't done much with it since I have a full time job. I've been going to night classes once a week at my real estate company, but that's about it. 

My goal is to quit my job ASAP because I want to spend ALL of my time doing things that make me happy (and my job is the opposite of that). I've been reading some things on here sporadically and have come to the conclusion that I should at least keep the job long enough to buy my first property. The thing is, I'm not sure how quickly I can make that happen. Being new, I'm obviously not great at judging what is a good deal and what isn't yet. So I figured I'd come on here and see if I can collect enough knowledge to speed that process up a little bit.

Other than that, I'm looking forward to becoming part of this community and growing in the real estate world.