Inspiration For All: Meet Andrew Ragusa, The Entrepreneur Of The Week
Nimble moves, quick action, pivoting and reacting. The keys to any small business. Andrew Ragusa owns a real estate brokerage on Long Island; how he was able to be nimble and pivot quickly, while the nation was almost at a standstill, is what sets him apart.
He is the owner of REMI Real Estate Brokerage on Long Island, and also the owner of Assets for Opportunity, a fund he began and runs alongside industry experts to invest in real estate rehabilitations. So far his investors are giving great reviews.
The fund purchases properties, refurbishes them, and sells them quickly and easily generating consistent and generous profits for the fund’s investors. As the fund grows, the capacity for action grows as well.
Andrew still operates as a broker, he “loves the deal – and loves helping people find their dream homes – and assisting sellers with moving on to the next step in their lives. It’s very rewarding.” His meteoric rise in the industry has gained the attention of many. He has been featured in top 40 under 40 as well as won numerous accolades from the industry. A rising star, who likes to think of new ways to maximize income for both himself and his investors, has been taking the industry by storm with new ideas and fast movement on those ideas.
“The demand for Suburban housing has really set my investment apart from others. The covid-19 pandemic has been a driving factor in its success. Also it doesn’t take that long to flip a house, most of the time we’re waiting on the town to finish their inspections as we progress through the construction process, and overall it takes approximately 6 to 9 months to finish the project. So I’m paying my investors lump sums almost biannually, every time we finish a job.” Andrew says.
The Assets for Opportunity investment fund, open to investors, has been his main focus for the past year. The fund allows Andrew to take advantage of superlative deals with the buying and movement power at his fingertips. “I have a network of experts from contractors to inspectors to attorneys to surveyors – all ready to go at a moment’s notice. Let’s say I open a fund and set the dollar amount to a million, I will pick up anywhere from 9 to 10 properties with that much money, and from there I go to all of my suppliers and vendors, and tell them I need materials for 10 kitchens, 22 bathrooms, 7 roofs, ect… so my material cost and even labor cost get drastically marked down in price because we purchase in large volume.”
The fund pays lump sum returns to investors each time a home is sold. The fund has grown exponentially and continues to seek out new investors and increase its returns as well as its rate of growth.
For those looking to get started in investing in real estate, Andrew says right now is the perfect time.
“Right now in real estate there is the perfect storm happening for suburban and rural housing, both for sale and rent. 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 being offered to them. All of the social unrest going on in the major cities has also made it pretty scary for the average person living in these multi-unit buildings,” Andrew outlines.
In addition, mortgage rates are at an all-time low, giving access to money at the cheapest rates in history. With people shifting to remote work, commuting is down, and people are seeking larger, more comfortable dwelling. Homes with incorporated offices are in high demand, as well as homes with a touch of bucolic charm. The demand has no place to go but up.
“We employ around 25 or more people at any given time depending on the number of properties we are involved with. My workers are dependent on me to keep the fund alive and growing. All of these people have families to feed, mortgages or rents to pay, and are given purpose through the fund. And it is my responsibility to ensure that they are not only making money, but have no shortage of work for the rest of their lives,” says Andrew.
Putting people first is how Andrew was able to get ahead. His understanding that people affect each other is a basis of his mindset for business and for life. He welcomes new investors to the fund, and new brokers to his agency. Hop on board.
Learn more about Andrew’s brokerage agency at its website, and make sure to follow Andrew on Instagram.