All Forum Posts by: Joachim Roselio

Hopeful noob here

I’m not planning on retiring from what is my dream job any time soon. I work 2 weeks per month which gives me time to work flips which I can reinvest in passive assets when I meet my limit for what I can manage time wise. I’d like to be able to support a ~$600k household in the us and a $2m one in Scandinavia in the area I grew up using passive income. I know it’s a high bar but that’s what I’m aiming for. 6-10 million in passive assets at a conservative 8%.

Online RE license? Sales associate?

That makes sense. It probably also falls in line with most new hopefuls have full time jobs and therefore limited time to oversee a project.

Most of the threads I read on here have to do with buying and renting out real estate. Why so few flippers?

Sorry I thought I had included a quote. FNG here. What is the rationale behind not buying sfh above 100k per door?

@Farris Gosea

I’ve heard this mention a few times now. What is the rationale behind this?

Put a good used transmission in it and sell it privately. Then buy something Asian and 2-3 years old. Small sedans like Mazda 3, Toyota Corolla, Kia Forte, Hyundai Elantra is your best bet. Don’t be picky. Buy whatever is least popular as long as that lack in popularity isn’t caused by reliability issues which shouldn’t be the case if you select one of the above. Avoid suvs as they offer higher running costs for marginally better practicality. Truedelta.com shows long term reliability data if you are unsure of the model in question. Do NOT pay cash. Car loans are darn near free money and you can put your liquidity to work elsewhere at I higher rate. Put your search in auto trader: less than 30k miles, 3years, and sort price low to high.

A Jeep (not that the compass is a true off-road Jeep) or pickup is rarely if ever justified.

Thanks Jon,

I’ve just started with real estate express online. I’ll be looking forward to working with the community.

Hi everyone,

I've just read j. Scott's flipping houses, Phil Pustejovsky's real estate investing gone bad, and Sabi Sheperds real estate flipping. I currently work two weeks per month. I have a fair amount of downtime when at work. I have a good income and live below my means. My idea is this that I could be scouting for properties to flip while at work and get started with the purchasing and flipping process at home in addition to looking. After reading J Scott's book on flipping and some other articles it has become clear that getting a real estate license would be ideal. I figure I can knock out the real estate license on line during my downtime at work. The financial costs or time spent would not be any large sacrifices to me at this point. It seems an online course runs about $100. I have a good grasp on home repairs as I have replaced walls, roofing and even remodeled my own bathroom successfully. I have installed every type of appliance used in my locale save for an HVAC system. At this point I'm trying to put together a game plan and after having read these three books this seems to be the recommended path: A: get a real estate license, B: start searching the MLS and other resources for deals, C: start viewing properties and try to assess good deals using J Scotts MPP model, D:make an offer.

 Am I oversimplifying this? What do you guys have for tips for a starter in my position? Which on-line course would you recommend?

Thank you!