All Forum Posts by: Thomas Santella

hey Josh,

I am in a similar position. Have you thought about leveraging your agent business to start your investing career? A lot of the properties you probably help sell could be great properties to consider investing in. I work with investors and developers by bringing them off-market deals and have been learning a lot in the process. It could be worth the consideration to start helping sell like-properties to investors doing the type of investing you are interested in and learning the process in the meantime, getting paid to do so

I am a realtor that works primarily with investors/flippers/developers in Brooklyn NY, and sell properties all throughout Long Island. For a developer construction costs in Brooklyn are about $350-375 buidable sqft included soft costs, labor, material. If he is using higher end material and appliances, use the later $/sqft. I would assume Long Island is very similar in pricing, but maybe slightly less expensive. These numbers come straight from one of the developers I work with in Brooklyn. 

As a buyer, there is no reason to not work with a buyers agent if you have a buy box and are looking for a specific criteria. The buyer agent will do the looking for you, and do it better than you can. You are receiving free outreach, negotiation, communication, interpretation and expert real estate knowledge paid for my the seller. However, working with an incompetent agent will be more hurtful than helpful. Not to say the agent you worked with was in this situation, but a great agent should be able to read the opposite agent and situation, pick up the fact the seller was screwing you over, and react accordingly. If you already identified a property you wanted like so in this case, you don't need a buyer agent to do the searching for you for obvious reasons, and working with the listing agent gives him the incentive to encourage your offer so he/she receives double commission. If you know what you want, go right to the listing agent. If you are still trying to identify a property but have your buy box, go with a buyers agent. If you want any further advice on any matters, I am a realtor in NY doing business in Brooklyn and Long Isand working with investors/developers. Contact me anytime

I am not a wholesaler, but a realtor. My business model is finding off-market properties that are perfect for flips, gut renovations, and ground up new construction primarily in Brooklyn. I source these properties to investors and developers for a finders fee and/or the listing agreement when the construction is completed. If this interests you please reach out and I can share my off market deals with you.

there is a password? I bought the book as well but don't know of any password

 How does that conversation go? I tried cold calling a pre-foreclosure owner and he was not happy nor very receptive to my call. If you can provide insight on how you handle these calls it would be appreciated. 

Sub to or Seller Finance - Rehab - Rent - Repeat : Whenever I hear Pace talk about this method he leaves out the "refinance" piece. I don't know if that is by mistake or on purpose, but where does the rehabber get their $ if their is no exit and the plan is a buy and hold?

 yes please do!

Hello BP community,

I am about to begin doing creative finance deals in Brooklyn and East Atlantic Beach NY and was wondering if anyone had recommendations for a good real estate attorney and title company that understands creative finance. Any suggestions are appreciated!