Opportunities In Bleak Times: Realtor/Entrepreneur Andrew Ragusa Is Not Letting Covid-19 Slow Him Down
How can the pandemic be good for the real estate industry? Selling a home in difficult and unprecedented times such as these, even worse than 2008, seems like a daunting if not impossible task. But Andrew Ragusa explains that this is not the case.
Andrew is doing things differently. He has risen in the industry at a meteoric rate; Since his entry into the industry, he was named top 40 under 40 in record time. He has now expanded his realm to include an open investment platform flipping homes and earning superb returns for faithful investors. His two main foci, real estate operations and the investment fund flipping homes complement each other and expand opportunities for other realtors as well.
“I’m a broker and owner of a real estate Brokerage in Long Island. I also own and operate a private placement memorandum that invests in residential real estate rehabilitations. My growth in real estate was very fast and not normal for most realtors who get into the business and have been continually recognized every year. I do still work as a full-service realtor, listing properties for sale and working with home buyers, but I have started to select which clients I will take on and not just take on everyone. My other focus has shifted to hunting down and securing investment properties. My partner and I have bought, rehabilitated, and have sold 10 houses in the past year, and we are on pace to increase our capacity to 24 properties in the next 12 months.” states Andrew.
He continues, “I am also very excited for the near future as foreclosure properties are backlogged for months as courts and the system for auction has been shut down. Once that resumes, the opportunities will be fast, furious, and numerous. Exciting times!”
Andrew is redefining what it means to be a realtor. In these trying days, while most of us are locked at home, he is operating “outside the box” to seek out opportunities and make the most of them. His methods are not new, but his approach and execution has laid new ground for what the future of real estate success may look like. Presently, in this ever-changing business, opportunity is where you find it. He believes there is a marked migration beginning – from city to suburb- and sees the trend increasing exponentially as people work more from home and seek peace and space on a daily basis. Apartments have proven difficult for isolation, and even less rewarding in terms of sanity in these trying times. Andrew is taking advantage of this.
“Right now in real estate there is the perfect storm happening for suburban and rural housing, both for sale and rent. I’ll explain in four steps: firstly, the COVID-19 pandemic has been a real eye-opener for people living in densely populated areas. Being in lockdown in a high rise building, unable to have access to so much of the amenities and services that were once available to them, creates myriad difficulties. Secondly, mortgage rates are at an all-time low. Prospective buyers and investors have access to money at the cheapest rates in history. Thirdly, inventory is LOW. During the lockdown, the number of people who listed their homes for sale has dropped drastically, which drives prices up in any market. Lastly, the wholesale shift in the workplace shows people working from home as a new majority, and is predicted to continue and increase. I can still see people commuting to cities, but perhaps only 2-3 days a week and in far fewer numbers.” explains Andrew.
Andrew is also changing training and education of those new to the industry. Many enter the real estate world hoping for instant success and sustained prosperity. This rarely happens. Even the most prolific firms have dismal success rates for new realtors. Andrew says that this shouldn’t be the case.
“My investment fund speaks for itself; we earn excellent and consistent returns for our investors. There really isn’t much else to be said about that. Our properties are in demand and we are generous with our returns. My fund will endure as it also offers opportunities for others in the industry to “get on board” ensuring its continued growth and expansion. We currently employ approximately 25 people at any given time depending on the number of properties we are actively working with. The funny thing is all of the major real estate companies, with the largest numbers of agents, all claim they have the BEST TRAINING to be found anywhere. If that were true in any way there simply wouldn’t be as high of a failure rate as there is. My approach is cleaner, more efficient, and more effective.” Andrew says.
The future is promising. And Andrew will be there on his way further up.
