Re: Update on my RE investing careeer....
Before we left the US I was at my job, working on two rehabs and managing 25 units. When I did our first rehab I realized that the way to make money in this business is in doing the deals not neccessarily pounding hammers and painting.
For example, suppose you buy a house and it costs you $5k to fix yourself and $10 if you contract it out. If you do it yourself you can't work on too many deals at the same time. But if you contract all the work out, all you end up doing is shuffling paper (mortgages, supervising contractors, etc.) and your "hourly" wage increases greatly.
You mentioned that the house should sell for 55k but you're selling it for 49k. Instead contract out the majority of the work and increase the sale price closer to what the market will bear. That way you'll be able to spend more time with the family and make the same amount of money on each project. It iwll also free you up to do the other deals that you don't currently have time for.
BTW- Even though we are in Panama I am still rehabbing homes with a competent team that I trust. Right now we have 5 projects currently in the works. So it can be done.
You take the blue pill - the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill - you stay in Wonderland and I show you how deep the rabbit-hole goes.