All Forum Posts by: Scott Wolf

@Jagpreet Singh while you may be giving up some of the benefits of having an agent represent you, your deal is more valuable to the broker representing the seller, as he will make more commission from you than if you have an agent, which may incentivize him to push your offer..  Additionally, if you bring in an agent at this point, having already spoken with the seller's agent, you may need to pay your agents commission.  

I'm not sure how you, as the buyer, would be "low balled", but if you have further questions, as a former Commercial Broker (still licensed, but not practicing), I'd be happy to offer some assistance.

@Steven Lopez are you going to live in it?  

I'd call around to more local banks.  Sterling National should do it, and maybe First National Bank of LI.  Past that you should call all the local banks.  Ridgewood, Flushing, Emigrant, etc.  If those don't work, I can recommend a Mortgage Broker who should be able to get it done.

Good Luck!

Congratds @Eder Aldana!  I agree with @John Bucci 

I think you also may find a greater ROI with renting the garages than the time, materials and government approval you will need to make it another unit.

@Jonna Petti I definitely agree with @Jessica Zolotorofe, you need to know for sure what the subletting rules are in the co-op you plan to purchase.

Hi Ken,

I may have a referral for you.  Please reach out and we can further discuss it a bit.

Thanks,

Scott

HI @Andrew Poitras it depends on what you're looking for.  Is this going to be your full time career? Or do you just want a place to hold you license?  Do you want to do commercial or residential?

If it's full time career, I know Compass is on the cutting edge of technology, or you can find a team to work on at Corcoran or Elliman.

If you want someone to hold your license for no fee, with a small percentage of commission, I have someone that would do that for you.

Best of luck to you, and feel free to reach out if you have any further questions.

Hi @Daniel King, 

Both exams are very easy, and you can take them multiple times.  I would not waste the $50.  Just go back over the course work, and chapter tests(if they had them), and you should do fine.

Best of luck!

@Shawn Ackerman I guess I should have clarified, that institutional and very wealthy investors are ok with 3% returns.  Unfortunately, I don't have that type of wealth.... yet.

Bruce Cohen, The B&G Group in Plainview

For a buy and hold investor, anything above a 3% Cap Rate is considered an acceptable return in NYC, as people buy and hold to have the appreciation, and it is almost like buying real estate as a bond (safe & stable investment).  As for a flip, I cannot speak to returns that they are looking for, as it is not what I do.