All Forum Posts by: Fradel Schaechter

@Benjamin Cowles

If he seems to be able to do a good job, his disability shouldn't be a problem. Proceed with caution and be sure he knows what he is doing before letting him do the whole project. If he works per hour, he might agree to work for a day/two and then allow you to decide if you want to continue.

If you know you won't have the heart to 'fire' him if he does not know how to do the work well, decide before hiring him if your willing to take that risk.

@Vincent Harris- I would suggest reaching to a local investor(s) and asking them some of these questions. They understand the market, what the buyers want and can give you market-specific advice. You can find these investors on this website, or at local meetups.

It does seem to me that selling the land and using the profit to get started in real estate investing is a good plan, but if you do some research, there might be some 'inexpensive' things you can add that would raise the value by a larger amount than the amount it costs. Not sure how this would apply to raw land, but it is just something to think about.

Best of luck, and keep coming onto these forums!

@Juan Gutierrez- good for you that your starting on this journey. It takes quite a bit of hustle and learning and connecting with other too succeed, but the results make the effort pay off in a big way :)

If you don't get that many responses about accepting your free lunch, I would suggest looking up which members on this site live near you and then reaching out to them and offering again. Many of them will not come across your post here, but if they get a colleague request and a message from you, they are more likely to respond.

Best of luck!

@Vincent Trieu welcome to the site! In addition to all the things @Dave Visaya mentioned, you can also check out the podcasts if you have not already. I found that I learned a lot from them and have helped me clarify what niche I am most interested in.

Good luck!

Saving for a down-payment is a great thing to do as you get the information and connections you need to succeed together :)

@Rebecca R. Congratulations on introducing yourself here on your first post! 

As a fellow newbie, I would suggest you get active here in the forums as another way to 'ease into the game'. I find that by looking through the forums and commenting when applicable (and I have the information) I learn a lot and as a side benefit, I become more visible and that sends people to check out my profile. If your profile is clear in what you are looking for, you might have some people reaching out. Lastly, on your dashboard you can see who viewed your profile and then reach out to them with a colleague request and message if they are local to you.

Best of luck :)

@Tom R.- once you take a contractor you will have a better picture of the price range for the rehab, if the purchase price plus the rehab cost exceed the market value for such a house in good condition, you know the deal can't work. You'll also have to take debt service cost into account, if you take a loan to finance the deal (especially a hard money loan...)

@Sebb Fusco were you being sarcastic about that? NJ is not as cool as NY but the prices can be a whole lot cooler depending on location :)

I would say that the factories are in some commercial neighborhoods, but where I live the air is fresh and no factories in sight.

@Chad Eatinger wishing you the best of luck in finding that multi-family deal!

@Keith Patrick one other thing I can recommend is reaching out to syndicators on this site with offers to help them (make coldcalls to property owners, perhaps tour a property, or anything else they need help with...)

I, too, am really interested in Multi-family investing/ syndication and I believe offering to help the investors who are doing what I would like to get good at is a great, economical way to get ahead. It is true I am giving my time away for free, but where I am at financially, that makes more sense than buying a course. If you do have the money to 'invest' in your education, I wish you the best of luck in finding the right 'teacher'!

@Kyle Ferguson an FHA loan can help you get there sooner, also you can take a look at your income expenses and see what can be done there to save more.

Good luck!

@Masashi Borges-Silva Personally, I don't use an app, I use old fashioned excel to record and keep track of my spending... Best of luck! Knowing where your money is going is a great way to know how to reduce your spending and increase your savings.