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All Forum Posts by: Fradel Schaechter

Fradel Schaechter has started 10 posts and replied 274 times.

Post: The importance of saving

Fradel SchaechterPosted
  • lakewood, NJ
  • Posts 282
  • Votes 156

@Steve Bracero- I agree, it is a difficult habit to start, and takes a lot of self discipline at first to stick to, but I have found that now that I do save (pay myself first) I can't imagine going back to what I used to do (i.e. spending all the cash before the next check arrived...)

Good for you that you started right away! :)

@Devin Elder there are also some free CRM (I believe that is Customer Relations Managment) tools available. I've got no experience with them but I hear some of them are pretty decent. Good luck in your research!

Post: Potential rehab house advice

Fradel SchaechterPosted
  • lakewood, NJ
  • Posts 282
  • Votes 156

@Dan Simpson what a detailed post :)

Before you move ahead on this deal, you need to calculate if the renovations you want to do still leave room for you to make money when you sell. You say you want the house to 'pop' but if you are in a market that is hot (you say houses are selling for more than the asking price) it is possible just updating it, not making it extra special, will be enough. I'm not talking about being cheap, but just not spending more than you have to in order for the next buyer to be getting a good deal.

Good luck!

Post: What Books have Inspired You?

Fradel SchaechterPosted
  • lakewood, NJ
  • Posts 282
  • Votes 156

@Jonathan Dempsey one book I recently enjoyed was 'Never split the difference' by Chris Voss (he was on a podcast here on BP).

What I took out of it is that I too can succeed with negotiating, whereas before I thought 'you either got it or you don't'.

Good luck!

Post: What stopped you from investing?

Fradel SchaechterPosted
  • lakewood, NJ
  • Posts 282
  • Votes 156

@Amy Rodgers I would suggest it is the hard work (or a lot of time) that needs to be 'invested' before a deal can happen. We are all a bit too 'busy' for our own good and it can be hard to focus.

@Fred Canzano I just made a list of people I hope to meet at that meeting. You're name is on it :)

@Travis Cheney and @Tom Saccente I believe tagging doesn't always work from a phone. Have you had success tagging from a computer? It is definitely available for non-pro members.

Post: The importance of saving

Fradel SchaechterPosted
  • lakewood, NJ
  • Posts 282
  • Votes 156

@Devante Boll- enjoy those books! I know I liked them a lot... Still reread them now and then :)

@Isaac Feil- I commend you for doing that self-reflection and learning what you did from your experience. Not enough young people (like you and me) reflect on anything these days :)

I would suggest reaching out and connecting with local, experienced investors that are doing what you are. If you can give of your time to help them with something, they might be able to teach you some things about your market, etc.

The best way to find them is here on BP or at meetups near you. Check out the events on this website or on meetup.com to see where they are. Don't be shy to talk to people when you go and you might find what you are looking for!

Good luck!

@Asela H.- I see you have under 5 posts so far. One thing I might suggest is to be very active in the forums when you can: you gain visibility and it leads people to check out your profile. Have a detailed profile defining what you are looking for and you might make the connections you are looking for!

I have made that a goal for myself and find that I am able to make connections at a faster rate when I am active in the forums: people notice and might feel like I am 'here to stay' when they see I didn't introduce myself and then disappear off the site. 

Good luck!