Hi all, first before anything I want to say that I am extremely happy to be a part of this community. Have been reading posts, questions and blogs for a minute now, and not mention the podcasts… listened to over 200 of them.
Now, I have read a lot as noted and took notes, understood the ideas and topics discussed, but here is my question that is maybe more niche.
My father has been a contractor in San Francisco for 25+ years and I have been working summers for him since 16. I am 22 now and graduating in 2 years with a BS in Econ but don’t want to do corporate jobs but get a general contractor and real estate license by the time I graduate, or max one year after graduation and start building my own business.
With the experience and funds used I would try flipping real estate in San Francisco.
Now, with that background here are my concerns.
1. I look at house prices in SF, the numbers do not work out. Mortgage, insurance, tax are way higher than any rent can yield, unless you bought some 99.9% discounted property and rehabbed and put it up for rent. Meaning does it even make sense to invest here? Or try out of state?
2. Flipping real estate seems super hard. Super hard to find deals. My father gets some from 30+ years of connections, but I feel people here know their homes are worth a lot and don’t want to let go. Go out of state again or what?
3. Once I get my licenses and start building up my business, does it make sense for me to do all the work or just subcontract the work I am not as good at and mark up the client?
Thank you so much people
