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Updated over 7 years ago, 05/15/2017

User Stats

17
Posts
2
Votes
Orazio Difruscolo
  • Contractor
  • Chicago, IL
2
Votes |
17
Posts

Need advice on REI path

Orazio Difruscolo
  • Contractor
  • Chicago, IL
Posted
I've been listening to the BP podcasts, reading everything I can on the forums trying to avoid problems along the way before making my first deal. I hear a lot about finding your niche first. I believe for me that's doing fix and flips and possibly house hacking along the way. I've also been hearing/reading a lot about how you should get a partner when doing investments but I don't have one as of yet. My current situation: I'm single, 28yr and have about $10k I can play with, plus another $10k loan from my parents. Total $20k.. The kicker- I just quit my job (yesterday in fact) in remodeling homes, where I was basically a laborer/apprentice. I hated it! Worked with the company for 1 month, I couldn't stand the contractor and how they handled there work. Very unorganized.. I only took the job to learn: What went into remodeling a home, how long certain tasks took, how hard the tasks are, etc.. I've been focused on gaining a residential construction job and am finding it slim pickings around my area (Chicago) so thought this would be a stepping stone for a future Flipper. I received my Construction management degree back in 2012. And also hold a LEED Green Associate. Haven't applied these two in practice within the real world yet and I feel that flipping may be the key.. I could learn how to manage contractors, budgeting, scheduling, etc. and also (possibly if it makes sense) to renovate homes with the intent of making them "green" in some shape or form, or, healthier homes per se. - I apologize for the long story! Hope I painted a good enough picture for your guys' evaluation on my current situation..just look for some advice on taking on a flip or buying rental property considering I don't have a job. Ah! Thanks in advance!

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