A New Yorker Invests in Providence’s East Side
We ask new member of the Geo team and longtime friend,Heatheran Kristopher, on how she got started in this industry, what she loves about the East Side, and how she plans on bringing New York investors to Providence.
GEO: How did you get into real estate and how long have you been practicing?
Heatheran: I started off by buying properties and flipping them in the East Side about 20 years ago. I’ve had my license for 8 years now. Getting into real estate was a natural progression. I began in Rhode Island, focusing primarily on the East Side, and then began working as a broker in New York as well.
GEO: What do you love about the East Side?
Heatheran: I love that it’s artsy and eclectic. I love that it’s a pedestrian city. I especially love being a landlord to the Brown and RISD students.
GEO: How so?
Heatheran: Like taking care of them. Every year I go to someone’s graduation at Brown, get invited to weddings. I have a daughter the same age as several of the students I work with, so I’m able to communicate with parent’s who have students living abroad for the first time.
GEO: So you’re involved in New York’s real estate market. Tell me a little about that.
Heatheran: In New York City, I focus on rentals on the East Side of Manhattan—it’s funny that I specialize in the East Side there as well. Coming back to Providence, I get to focus more on sales, and I’m working on bringing New York investors to this market.
GEO: What kind of investors?
Heatheran: Both residential and commercial. There’s a market here for outside investors because it’s more affordable. Prices are lower, interest rates are lower and the rate of return for NYC investors is a lot larger. You’d have to have millions to invest in a property in New York.
It’s better to buy here, rent it out, and have some extra income coming in.
GEO: What are your goals for the future of your business?
Heatheran: I’d like to eventually start doing seminars in NYC as a way to meet potential investors. I see a lot of potential on the East Side and the passion I have comes through and it gets them excited, if it’s done right.