All Forum Posts by: Andrew Weig

Jill- I don't have the skills, but I can work alongside and assist the guy that will be doing the work (which is what my Gran suggested). And as you can imagine that's not really very valuable to do, which is why I came here for more ideas. My grandmother is being very generous here, but I want to treat this like a professional deal for experience.

As for your suggestion about online accessibility I'll look into that! Thank you.

John - It's a rehab. I'll grill her a little bit more and tell her I don't want the grandson treatment here, but I'm still going to try and get outside ideas too.

Frank- Thanks, this is what I was looking for. I guess I could have asked "What would this deal look like in the real world, without the benefit of being the owner's grandson."

Thank you all for your input.

I appreciate the reality check Raul, and it seems like I might have to do that. However, I can be pretty resourceful and creative so I want to exhaust the dream before I come back to reality haha.

Ashley- I'll be sure to check out the meetup, and look into working for a property management company.

I'm a newbie and still learning the basics. But I think I have an opportunity sitting right in my lap.

My grandmother owes a few properties herself, including a tiny apartment on the back of her house. I currently live with her too. The apartment was in the middle of remodeling. I got the idea of helping her out with that back apartment and then getting some cut of the rent once it's rented (as well as real world experience).

She has already agreed to that because she is an awesome grandmother, but I want to make sure I'm bringing real value to this deal. So my question is, what would you value as a landlord in this situation? I was thinking I help out with the rest of the remodeling and maybe I could find and manage dealings with the tenant. 

Here's a little more detail. The apartment is a tiny studio apartment and still needs a lot of work. There's no shower, toilet, sinks. The floors need to be done. My grandmother said it will easily get $500 a month. If you'd like more information I can provide it, maybe I'll upload some pictures too.

Hello, my name is Andrew and I'm 27. I'm a complete newbie. 

I'm currently living near Buffalo, NY (Lancaster area). I also spend time in West Palm Beach, FL and have some ties to Charlotte, NC (where my uncle is getting deep into Real Estate investment as well, he told me about BP). I'm unemployed with no savings so I will have to be creative in my first few deals, but have a lot of relatives who are successful real estate investors who I plan to connect with once I know my ROIs from my PMIs.

PLAN: Right now I'm jumping head first into the BP Course. I'm still learning the basics, so it's a little early for me to even know what I want to ask about... However, it's looking like my first deal will be a duplex/multi-family house-hack situation (with some creative financing). I think I've got my work cut out for me, but I am committed and excited about this path!

My grandmother suggested I look into becoming a real estate agent to gain experience and income.

CURRENT CHALLENGE: I have too many options (3 different potential home bases to start from (NY, NC, FL). And I need to narrow that down, find out if and how I can eventually invest in areas I'm not living in, and what that path will look like (in terms of time, and resources) before I can invest out of the area since my ultimate goal is to be able to live elsewhere at least part of the year. 

Once I have that sorted out it will be much easier for me to start focusing on that single area and start developing my strategy for my first investments.

GOAL: is to follow a similar path as my late grandfather. He started out with single and multi-family homes and eventually worked his way up to a 70 unit property after 10 years. Seeing how my grandmother lives now (she is financially free, easily managing a few properties on her own at 80!) I at least want that for myself. I also have a great opportunity as I'm living with my grandmother now and she is sharing her knowledge with me and letting me learn by getting hands on with some management projects.

I'd like to make my first investment within one year.

I'm not hard set on this path however. I'm open to other strategies. Just want to make sure I stay focused!

DREAM: I like to have my feet on the ground and my head in the clouds all at once. So my pie in the sky scenario is to be be able to go wild with investments one day. I love great architectural design and tiny homes so that would be great to get into for fun someday. I also eventually want to be able to travel for months at a time and bounce around like a snowbird who doesn't know what season it is).

I'm seeking financial freedom to travel and live on my own terms, but I also am excited about the WORK that is involved. I can see myself getting hands on with flips, running the numbers, building my skills and knowledge, and enjoying the actual daily grind of being a real estate investor. 

If you've read this far, thank you for your time.

If you are in the area, I'd love to get together for a coffee and talk real estate investment!