All Forum Posts by: Ceasar Rosas
Ceasar Rosas has started 91 posts and replied 570 times.
Post: Keller Williams Vs. EXP realty Vs. Small brokerage

- Real Estate Broker
- Bronx, NY
- Posts 597
- Votes 340
I will make this short, I know you have enough info on these companies from our wonderful BP members above. I will tell you Carlos, that I joined KW a little over a year ago after being with 2 other pretty well known companies in our area. Exit and Houlihan Lawrence. My reason for joining was different from others. I wanted to move over from sales to more active investing, besides I've always loved all of Gary Keller's investment books. We started flipping properties in Pa and we decided to become a part of an office out there. We were looking at offices and KW was the largest out there, 2 of their agents sold a couple of our flips. We checked out the Bronx office, which we knew of well, and we really liked what they offered. The training is 2nd to none. The support system in our office is great, our conference rooms for clients are great, and unexpectedly we actually ended our last year strong and started off this year stronger. Plain and simple, I like the models they use and being in the largest offices in the areas of focus is an advantage. This business is ALLLLLL about networking. Why not be where the top listing agents are at, who will likely provide the best deals for your investments? If you want to be in Manhattan, find the top brokerages, maybe some leaning towards investments. It was ideal for our NY sales and Pa investments. We may be getting licensed in Jersey next and be a part of a KW there as well. Good luck buddy! Let us know what you decide.
Post: Debating between dream home or house hack in city?

- Real Estate Broker
- Bronx, NY
- Posts 597
- Votes 340
There are 275 Active Multi family listings in the Bronx right now. 537 if you include contracted listings. Out of the 275 Active only 22 are at $450k and under. Most of them are not in ideal neighborhoods. I don't want to tell you to rule it out, but I'd like to be able to help with giving you the info you need to make up your own mind. To buy a multi in the Bronx, you must really want to buy a multi in the Bronx. The potential is there, even if you have to pay more. And everyone is expecting the Bronx to be the next Brooklyn and it sure will continue to appreciate. May we take a dip? Sure, but it will continue to come back and each time stronger.
Post: Philadelphia multi family investing

- Real Estate Broker
- Bronx, NY
- Posts 597
- Votes 340
Hi fellow BP members. We're looking at potentially buying some 3+ units in the Philadelphia, Pa market. We're looking for lenders, Realtors, investors, wholesalers in the area. We're looking for a pretty decent deal and are not scared of work. We're also looking for property managers that are experienced in the area. Any advice would be greatly appreciated.
Post: Making an offer on a multifamily in the Bronx

- Real Estate Broker
- Bronx, NY
- Posts 597
- Votes 340
Are you working with a Realtor?
Multi-families in the Bronx are extremely competitive in this market. Unfortunately it is not uncommon to find properties that are selling for almost 100k more than what they sold for in 2016. The comps that determine today's value are ones that have sold in the last 90 days. You also must consider how are you purchasing? Are you using FHA? Conventional? A rehab loan? Cash would be the best tool to get a deal. The lower DP you have the less likely you are to get a tremendous deal. Cash or access to allows you to purchase problematic properties with disgruntled tenants, extensive renovations needed, violations, title issues, etc... those make the best deals in this market. Everyone else is paying market value or close to.
Post: Debating between dream home or house hack in city?

- Real Estate Broker
- Bronx, NY
- Posts 597
- Votes 340
I Bought my 1st 2 family in the Bronx in 2013. Great location. I am now looking at purchasing a single family by the end of this year in a place that I want to move. I could have probably done it sooner, but I got into flipping in Pa and am looking into more buy and holds out of state. $450k in the Bronx for a multi is actually a tough budget. You would need to be in the $500's nowadays unless you're buying cash. Your family also absolutely must be on board. There are pros and cons to both, but it really will depend on your goals and how fast you want to get there. I've seen people househack and make it work for them and I've also seen people, buy a primary residence, at a good price, maybe something that needs work and force appreciation. Then they use a HELOC and go purchase an investment.
Post: Strategy to get out rut and start Investing

- Real Estate Broker
- Bronx, NY
- Posts 597
- Votes 340
Hi Jared, coop sounds like it was an unfortunate situation. Did you look into Chase to see if they do financing in that building? They are the largest lenders for coops in NY. Financials usually are very important.
Where did you guys purchase the single family?
Post: Move to Westchester County, NY

- Real Estate Broker
- Bronx, NY
- Posts 597
- Votes 340
@Emily Horton
Yes I can provide you with some local lenders we work with. Inbox me for their info. When doing deal analysis make sure you take those taxes into consideration. With new laws and regulations you also may want to steer clear of 10k+ a year in taxes. Yonkers is a pretty hot area that has seen some steady increases and property taxes are still affordable. You do need to know how to navigate that market and if you are looking for safe, nice areas you definitely want to do your homework. Getting qualified and knowing what you can afford is the 1st step.
Post: Move to Westchester County, NY

- Real Estate Broker
- Bronx, NY
- Posts 597
- Votes 340
@Emily Horton
Congrats on making the move to NY. The area in Westchester that would work for you would depend on where you will be working here and what is more convenient. Lower Westchester has many more multis than upper due to its proximity to the City. Places like Yonkers, New Rochelle, White Plains, Mount Vernon, and New Rochelle are all good places to invest, but you do have to be careful with high taxes.
-This is the time that properties will now start to hit the market more and more, but we still have low inventory in these areas.
-Multifamilies are easily rentable in Lower Westchester.
-The market has been steadily going up.
-The demographic will depend on what area of Westchester you want to invest in.
-I would count on STAR more as a bonus. When and if you are using a mortgage they will base your qualification on total taxes
It would be good to know a little bit more of where you'll be working, how far you'd be willing to travel, how many units do you want, have you been pre-qualified, etc... That would help us give you the best advice possible.
Post: Starting in a big city, no money down, turning points

- Real Estate Broker
- Bronx, NY
- Posts 597
- Votes 340
It's a 75 hour salesperson course. More importantly you should check out the companies that work out of the locations you focus on. Understand real estate sales is very lucrative, but you have to want it. You have to be determined, focused, and able to have self discipline. You have to be honest and reliable. Average agents make about 35k, but if you have what I mentioned and work hard you can easily do over 100k a year. You have places like NYREI, REEDC, but a simple google search will bring up all the schools that offer it. It's cheaper to do online, but I always tell people to go to a school and network your but off. I'm taking my continuing ed right now at NYREI.
I think anywhere that attorneys are heavily involved it will be tough. All the attorneys I work with will never recommend to there clients to have an assignment clause. It would be possible to double close, but you will take a chance if the end buyer doesn't follow through and you have to keep the property. But for example if you had 2 properties in Pa that work for a flip you can wholesale them to me and all we use is a title company. I have a wholesaler who I've done a couple of deals with because we only deal with title companies in that area.
Feel free to message me and if you ever want to get together let me know.
Post: Starting in a big city, no money down, turning points

- Real Estate Broker
- Bronx, NY
- Posts 597
- Votes 340
It's always tough to start over, but never impossible. Some of the greatest success stories ever are people who have their back up against the wall and come out swinging. I usually recommend for people in NYC who are looking to wholesale to actually become a Realtor. Wholesaling is just not that common in NYC because there are so many attorneys involved in a transaction. Besides, being a Realtor is a great way to learn the market and get income. If you were somewhere like Pa, where we flip properties, I would say wholesaling would be a good option. Be advised the expert wholesalers I've met spend a great amount of money in marketing. If you have questions reach out. Good luck!