All Forum Posts by: Jeffrey Almonte

Following this thread.

@Steven Hamilton II, Thanks for the input. I love the sample questions you posted above.

Great tips @Rick Howell , I absolutely agree! I try to time block everything now.

Hi @Timothy Howdeshell

I was in a similar situation and decided to pass on the MBA. I have an Engineering background and thought an MBA would help transition into entrepreneurship. 

There is so much free knowledge online on blogs, websites, and forums. There are also great MOOCs like Coursera and EdX. You can learn anything from economics, financial engineering, game theory, or finance from top-notch universities.

What made the final decision for me was the opportunity cost from a time perspective. I can always make money back, but you'll never get the time back. Committing three full years to a Fully-Employed MBA program (FEMBA) was tough for me. I could have built a successful business in that same amount of time and probably would learn more than I would at school.

My coworker is taking Real Estate courses at USC in his MBA program and asks me for help on homework or to explain real estate concepts. Experience is a great teacher.

@Yu Jiang Tham Congrats on your purchase. Keep in mind the other expenses other than PITI. Once you factor in the other expenses, you may not be cashflowing and may have to rely on market appreciation to remain profitable.

Hey Kevin! I'll send you a PM. I'm planning to attend a multifamily meetup tonight. I don't have any affiliation to the meetup and will be checking it out for the first time.

Welcome to BP @Chad Lewis ! It's great that you've caught the real estate investing bug. Best wishes on your software engineering and real estate investing career!

Welcome to BP @Heather Collins !

I live in Los Angeles too and found it too expensive to invest in. I moved my investments out of state and am not looking back. Live where you want and invest where it makes sense :)

My good friend is an animator at Blizzard and have other animator friends at Psyop. Best wishes in your real estate investing and animation career!

Beware of lower-priced homes and the CapEx needed to stay profitable. Your CapEx and repairs will be much higher in the Midwest, especially with lower-end rentals. Also factor in the age of the property. Older properties present other issues like asbestos, knob and tube wiring, or cast iron plumbing.

From speaking with other investors, turnkey properties are not truly passive and returns could be marginal if CapEx and repairs aren't properly accounted for.

I haven't looked into the Cardone Capital fund and am not familiar with his offerings. Don't rush into it and review many offerings before jumping in.

Best wishes!

Hi Jonathan,

I live in SoCal and agree that living in SoCal is great. However, investing in Southern California doesn't make sense to me and it is mostly appreciation plays. Also, I stay away from condos due to HOA and having to deal with HOA boards.

What are some of your strengths? 

Depending on your skills, you may be better jumping into real estate immediately or going to college and getting a degree with a starting 6-figure salary or after a couple years of experience. Then use your salary to give you capital needed for real estate investing and start purchasing real estate to transition out of your W2 job.

Real estate investing is much easier when you have capital and can easily qualify for loans.