Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Re: Update on my RE investing careeer....
Old 06-13-2006, 01:20 PM   #21
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
Join Date: Mar 2003
Posts: 15,910
Re: Update on my RE investing careeer....

Originally Posted by thefed
Yes, yes they are. And every day I see a new home on the market I can work with. I think know I'm addicted to money...that doesnt make it easy.
Hmmm, it occurs to me that you could eventually make this your day job if you were so inclined. That way you wouldn't be trying to work two jobs...

"Neither my companion or I carry firearms on our persons. We depend on the goodwill of our fellow man and the forbearance of reptiles."

- English Bob
brewer12345 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Update on my RE investing careeer....
Old 06-13-2006, 01:45 PM   #22
Full time employment: Posting here.
Arif's Avatar
Join Date: Jun 2005
Posts: 761
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.
Arif is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-13-2006, 01:47 PM   #23
Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 4,005
Re: Update on my RE investing careeer....

Along the lines of what Arif said - consider hiring a laborer/assistant to do most of the work.
justin is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-14-2006, 09:31 AM   #24
Thinks s/he gets paid by the post
thefed's Avatar
Join Date: Oct 2005
Posts: 2,203
Re: Update on my RE investing careeer....

Well, on house number 2 I already bit the bullet an am getting a few things done by contractors (relocating a bathroom and a roof repair). I cant bear to ahve them do aLL the work, so I'll ease into it 8)

thefed is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Value Investing Arif FIRE and Money 6 04-26-2016 06:01 PM
Update your options... Andy R Forum Admin 0 05-22-2007 12:19 PM
Aging Brings Wisdom, but Not on Investing dex FIRE and Money 0 12-04-2005 11:16 AM
(DVY) and Dividend Investing charlottebandito FIRE and Money 11 08-01-2005 09:35 PM
Book Report - Four Pillars of Investing cute fuzzy bunny FIRE and Money 24 03-25-2004 11:24 AM


All times are GMT -6. The time now is 06:27 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.