I got into real estate sales by accident in 2006. At the time, I recently earned a Bachelor’s Degree in Economics from Lehman College in The Bronx. I had a very entrepreneurial mind and was ready to make my mark in the real estate world. I immediately purchased three multi-family houses in Binghamton, NY. They where fully occupied, however, the manner in which they were being run was not up to par. My brother helped me renovate several units, I let several tenants go and began renting primarily to Binghamton University students. After that, I hired a manager and was on my way.
My next venture was with pre-foreclosures. I hated making these phone calls. How can anyone look forward to calling people to confront them about their financial woes, right? But as with all other investors, I knew that in the long run this would benefit all parties. I finally got a hot lead when I found a single mother in my area that was about to lose her home. It was like I was her best friend when I told her I wanted to help her out by purchasing her home! To make this long story short, I put her house under contract and began to shop it around. This contract gave me rights to her property and, if executed, would have made her a small profit as well. J. Philip Faranda was one of the investors who responded to my efforts. I guess he saw that I was rather motivated and ready to make some money in the business. He convinced me to get my license and I was sure to make money at least “by accident”.
Obviously, he was right. My very first transaction was with a for sale by owner. I had his house under the same contract as the first woman. I was not able to find an investor to purchase the contract so we listed his house on the MLS and sold it in less than 60 days. That was several years ago. That client still calls me today to thank me, invite me to his house and to simply ask how Phil and I are doing! That’s what this business is all about!
FAVORITE PART OF THE BUSINESS
Without question my favorite part of the business is working with first time buyers/sellers. In many cases it is much easier working with clients that have previously bought or sold, however, these transactions can lack enthusiasm. Clients who have purchased before understand the lengthy process and usually know what’s coming next. The first time buyer/seller tends to be younger and has no idea of what to expect. They depend on my guidance and advice right through closing. They embrace challenges with a nervous yet positive outlook and every showing is an adventure. On the other hand, it’s rather upsetting when a relationship builds with these clients for several months and comes to a sudden halt after a successful closing. I keep in touch of course with all of my clients but a hello every now and then is quite different than the four days a week contact over a several month period.