All Forum Posts by: Eli Howard

I got a lead on a nice property in my area from a recently acquired contact, who is a local realtor.

How do you feel about going directly to the listing agent? Is it worth risking a potentially good contact for leads? Would you save money?

Tell me why you should/shouldn't go directly to the listing agent.

That's great advice Joel and I hope to reach a similar point in my real estate investing one day. I think it'll take a few years before I reach that level. I'm networking with a couple of brokers in my area already, in the hopes to get there.

So my initial goal with my education was to ultimately be a real estate developer. Then, like most newbie investors I read Rich Dad, Poor Dad and began to learn about limiting risk and realized I could build significant wealth using strategies other than developing. I really like the brrrr strategy, it seems like a great method. Thanks for your opinion, I think that's the way I've been leaning in my decision.

I'm new to real estate investing, but have unique opportunities in my career to get an advantage over other investors. I have been working for a civil engineering firm for a short time in Austin, TX. Working here has helped me develop some good relationships with people at the City of Austin. I've dealt with some developments, permits, obtaining CO's, etc. I don't have much experience yet, but I have an opportunity to work with a home builder as a construction manager now.

There is advantages to each job for real estate investing. Starting into real estate I feel like the homebuilder can directly benefit me now by developing relationships with contractors and learning how to build and repair homes. However, the engineering firm allows me to learn what it takes to be a real estate developer from dirt (the risk worries me). 

Has anyone been through something similar? I'd also like to hear from each side (civil engineers and construction managers) about the advantages you gained from your career. Also, what do you wish you would've learned sooner?

I have a couple questions about some of the points made:

1) I was under the assumption that you can only put a max amount of $5,500/yr into an IRA until 50, then you get a slight allowable increase.

2) There is compounding interest, so if you start w/ $5,000 and invest $5,500 until 50, then the allowable investment raises slightly, you max your investment for the remainder of your 30 year period (ex. 50-60), you will end up with just over $1,000,000 after tax.

Please let me know if my points are not valid and explain.