All Forum Posts by: Alexander Ball

I felt very much the same when I was half way through school and I'm so glad I finished my degree.  I work in software now, so it's been incredibly helpful getting my real estate career started and it will be a great source of funds going forward.  If your degree has value, I'd highly recommend sticking it out.  It's a pain in the ***, but that W2 can exponentially speed up the process building your portfolio.  I think I'll be able to retire by 35 as long as I keep at it, I only got my first property recently so we will see.  Just my opinion.

I bought my first house hack at the end of 2018 and I'm looking to finish all the work on the property this week and finally start looking for roommates starting next week!  For 2019:

1. Complete at least one BRRRR and break even at the minimum (this is my learning property!)

2.  Pick up at least 2 more rental units

3. Build a network with contractors, real estate agents, HML and of course other investors by attending meetups regularly and actively networking.

4.  Last but not least read the book on taxes (paraphrasing) and the book on invest from afar (paraphrasing again).  I own both, but have been reading other business related books lately.  

I think you should come up with plan A and plan B.  If you want to pursue Real Estate from the get go then go for it!  Just make sure you have a back up plan in case things don't work out.  Also, be careful about working 60-70 hours a week.  It's doable but you need to make sure to maintain your mental and physical health.  I've been working that much over the last month and I make sure to take Sunday off with my girlfriend.  Good luck!  

I'm wondering if this is worth it when trying to bring in perspective tenants? Or is it a waste of time?   Do rooms that are furnished rent out faster? Do they rent for more?  Are there downsides besides cost and potential damage?  

Thanks

Thanks for the responses everyone, super helpful

@Ryan Huddleston Okay thanks, great idea will do on the LED lights.  Thoughts on a different color? Or leave as is.  

This condo was built in the early 70s and as a result doesn't have the most amazing lighting.  Additionally the current paint color is a weird off white (see pictures).  Right now, I'm seriously considering going through and repainting the entire place a platinum white. My main concern is if it's 1. worth my time and 2. If it will really spruce up the place and 3. is platinum white a bad color with tenants when it will show dirt/damage easier.  4. The ceiling would also have to be painted, not sure if this is an issue.   I'm turning this condo into a house hack so I've been working on it night day getting it ready. I think a platinum white will make it both brighter and look bigger.  I wanted to hear BP thoughts.  Also, I've never painted anything so I have 0 idea on the cost of this type of thing.  I've been youtubing everything and it's been going well so far.  I'm not afraid of hard work, so if this will really make a difference I will absolutely do it.  

Thanks,

Alex