All Forum Posts by: Chase A.

What are some good renovation/rehab books for beginners?

Does anybody know of a good general renovation/remodel book for someone who know nothing about renovating/remodeling?

Are there any good books on taxes. I don’t want something super technical. It also doesn’t have to be specifically about property tax.

Hey,

I'm a Junior in college and I'm currently studying for the LSAT to get into law school. I was wondering if studying real estate law would give me any major benefits when it came to investing in real estate? Are there any other law specialties that would work well with investing in real estate? Thanks ahead of time for any replies!

-Chase

Hey! I recently bought a book called "The Complete Guide to Contracting Your Home" by Kent Lester and Dave Mcguerty (link to book below). At the beginning of the book the authors claim you can save up to 42% when you build a home by acting as your own general contractor and real estate agent. The break down of the 42% is 7% real estate commission, 20% builder markup, 4% savings on material purchases, 2% cost saving construction, and 9% doing work yourself. From what I have seen most spec builders expect 15-20% profit on a build which is much lower than 42%. Does the up to 42% claim sound false or too good to be true? Any responses would be appreciated.

-Chase A.

https://www.amazon.com/Complete-Guide-Contracting-...

Are there any college degrees that could help with real estate investing. I know a college degree is not necessary for real estate investing, but I was wondering if there were any that could give you an advantage in real estate investing.

What percentage of your rent should you allocate to capex, repairs, and vacancy for a new or newish property? My thoughts were 5% capex, 5% repairs, and 8% vacancy. Does this sound realistic?

Is it safer to own a property free and clear rather than leveraging? If the real estate market crashes again like it did in 2007-2008 aren't people who are leveraging at a risk to loose everything?

What are the normal non-owner occupied mortgage rates? Are they about the same as owner occupied?

Are there advantages in paying off a mortgage on a real estate investment before moving on to another property? I know your cash on cash ROI will be lower, but won't you have less risk and more cash flow?