Yamit is a real estate developer and co-owner of Sophisticated Investments, Inc, a development company she runs with her husband in Philadelphia, PA. Also a licensed realtor, Yamit discusses how to venture out on your own and why starting small is the key to success!
Transcript
>> My name is [inaudible] and I graduated in 2004 from Temple with a major-- , a double major in finance and marketing. Right now I do real estate development in Philadelphia. I also have my license so I'm a realtor in the city. Basically once we find a-- , we have a-- , our company has a lot of locations around Temple. This is how we started when we were students, me being my husband and I, and so we bought properties around the university and developed them. You buy a shell or a lot and you build and you know you get tenants. Right now we're more citywide so we're looking for new locations. We can do, you know drive by and then talk to local people, see how much they buy the property, they rent, see where we can take a project, you know, from start to end. Most of the time we hold into the projects, we just develop them and manage them afterwards, and sometimes we sell them. Just recently we bought a large lot that has a building on it. It's zoned commercial so you can develop it to be a commercial or residential. It's in [inaudible] which is a little bit west outside the city, very nice location, a lot of young community and a main street is a very nice street. It's a building that can be knocked down and then we can subdivide the lot into five or six lots and build six new buildings on it and then either rent them or sell them. Most likely we'll sell them because it's a strong market for sale.
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