All Forum Posts by: Evan Renaud

My name in Evan Renaud and fairly new to bigger pockets forum after months of podcasts and books. 

I have pondered over which aspect of investing makes the most sense for me and have determined partering with a local rehabbed could be the best fit. I have hard cash to contribute to a partnership and I am a highly skilled union painter/taper so I can contribute those skills to the rehab team. While also having been in construction for over 15 years I have knowledge of each step in the process but can always learn more. 

I feel there is anyone in the Massachusetts area looking for a partnership I’d love to meet up sometime to see if we could develope a successful partnership.

Also, if there is a local meet up that may lend itself to networking with rehabbers please inform me as I have not yet been to a meet up and not sure if that is allowed at all meet ups? 

Thank you for any and all responses.

Thanks for all the great advice. This property is a family owned but nothing tied to myself. The work was all done by a licensed contractor which is my septic father who was renovating for my mom. The electric,plumbing, new windows, kitchen and floor plan has all been upgraded. I was under the impression he wouldn't be stupid enough not to get permits but as far as work quality it is top notch. The building department has given him huge problems because when he submitted for permits,after being exposed,  his renovation costs were more than 50 percent of the houses value. If I could drive the fees or whatever other costs into the offer price, I would hold the property as a rental as it has water views and short walk to the beach in the Cape of Massachusetts. I hope this clears up a little more information and may help narrow down my options going forward. Thanks again for any and all feedback it is greatly appreciated.

A question about buying a house that the previous owner began and nearly finished renovating without acquiring building permits. If I were to purchase this property does that fall onto me or what challenges would face a potential buyer? Thank you for your time and any knowledge on this.

A question about buying a house that the previous owner began and nearly finished renovating without acquiring building permits. If I were to purchase this property does that fall onto me or what challenges would face a potential buyer? Thank you for your time and any knowledge on this.

@ Patrick Wheeler thank you for your advice and I practice analyzing daily. Will continue but forgive my ignorance but in that situation are you saying I would be the lender? 

Thank you all for the great feedback and I will surely be attending those MeetUps.

My REI goals are within the next 5 years to earn a passive income through real estate investing to offset my W-2 Income. Since I work in construction I want to protect myself for the slow times.

I plan to study each investing option by with the knowledge I have now I believe a duplex to 4 door apartment will be where I look to start my investing. Flipping interests me but I plan to still work my full time job and the market here is a tough market to find rehabs on the lower end of the market.

My thoughts and questions on the crowdfunded REIT side is that while I take this year to study and network I would also be passively investing in REIT's. Looking At it as a way to get my feet wet in the market passivley without a huge portion of savings being used.

What are the downsides of REITs and does it make sense for a new investor to as a way to grow comfortable with real estate investing?

My name is Evan Renaud 29 from Boston, Massachusetts and I've just joined the site after listening to the podcast daily for the last month. I am a union Foreman painter in the city and have experience in all sides of construction. I am the hardest worker every job I have ever been employed being awarded the fitting accolades. I only say this to inform you I will never waste anyone's time and I am not on here to be the one of the ones "who fail or don't make it" like question 3 in the fire round.

My beliefs on money, savings, and being frugal allowed me to aquire a savings of $75,000 while having an employer paid annuity and just purchasing my first single family live in home. I know l now it's a liability and not an assest.  Recently purchased Rich Dad Poor Dad has opened my eyes and mind that indeed I will never be financially free this way. The house was bought with a flippable intention in the long run as far as school district, neighborhood, and minor rehab.

I want to invest in my local market which is the Boston and surrounding suburbs which is a high and attractive market which still has room growth due to increase in job demand from next new casinos, hotels, GE, and Amazon. 

Before plunging in I'd like to take the year to gather the knowledge of which real estate investment is best suited for me. Also for the delay my fiance and I are saving for a wedding in August which I know is not a wise financial investment but her mom has stage 4 breast cancer being in a coma less than a year ago and we all want her to be here for that event. 

Having said that I don't want to stand idle by and have $1,000-$5,000 to invest and was curious if it was a wise choice to invest into a portfolio on Fundriser.com( or other investing site) to get into the investing market?

If you made it this far thank you so much for the time and any reply or insight.