All Forum Posts by: Luke Marsh

Hi @Ping W. I agree with JD that it sounds like you could have held them to their contract and had them pay for that month of rent. However, since it is only one month I don't think it is worth the hassle, especially since it will give you more time to find a tenant in typically some of the best months of the year. I would just try to learn from it for next time. 

Hi @Amber Watson I would focus on your market as well. Understanding and mastering it will help when analyzing a deal so you can determine if it is a good/bad deal. There are some resources available that can help you get started in wholesaling too.

https://www.fortunebuilders.com/the-pros-and-cons-of-real-estate-wholesaling/

https://www.biggerpockets.com/blog/ultimate-beginners-guide-real-estate-wholesaling

Hi @Salvador Diaz as John and Patrick mentioned, there are certain trades that are more difficult to learn than others, or require some sort of license. I would try to do the more simple tasks that save money like landscaping, and painting. After that I would proceed to flooring, carpeting, etc. Finally I would get into more of the specialized trade with electrical or plumbing (most likely plumbing). 

Hi @Alejandro Salcido I would personally look at it in terms of ROI instead of straight up $30,000 profit. The $30,000 could be good or bad depending on purchase price, rehab costs, etc. I would want at minimum 15-20% ROI, ideally 20%+.

Hi @Chris Iley

As Jaysen said I would figure out the water damage issue first.

I would personally lean towards drywall if you are planning on finishing off the rest of the perimeter. There are pros and cons of both of them and these articles jump into that more. 

https://trustedpros.com/articles/basements/pros-and-cons-of-using-drywall-in-your-basement-renovation

https://www.thespruce.com/wood-wall-paneling-alternative-1822880

@Christian Cummings There are a lot of options out there, quartz, granite, wood, etc. Based off of what you are looking for I would recommend a laminate material. It is one of the more cost effective options, and has a lot of different patterns, and colors available. 

There are pros and cons with every surface material (cost, durability, etc.). This article does a decent job of listing the pros and cons of each material.

https://www.thespruce.com/top-kitchen-countertops-1977143

Hi @Jeff Cliff as Kyle mentioned the cheapest option is likely going to be just fixing it up, assuming there isn't anything structurally or functionally wrong with it. The cost of filling the pool can be pretty expensive. The following article goes into all the different costs.

https://www.homeadvisor.com/cost/swimming-pools-hot-tubs-and-saunas/remove-and-fill-in-pool/##fillin

Hi @Ashley Mitchell as Taylor mentioned I would really focus on learning all the major areas of multi family investing before going down the route of a mentor. Not that a mentor isn't beneficial by any means. There is just a TON of really valuable information out there that you can learn for free or for really cheap. I would suggest taking everything you learn and apply it to your market. There are a lot of resources on BiggerPockets alone. The podcasts, guides, blog posts, webinars, books, etc. are all really helpful. 

Blog: https://www.biggerpockets.com/blog

Guides: https://www.biggerpockets.com/guides

Webinars: https://www.biggerpockets.com/webinars

Podcast: https://www.biggerpockets.com/podcast

Books: https://www.biggerpockets.com/store

This is a really interesting topic @Account Closed especially right now. I think you hit on some really good points. 

For college kids I think online capability will really depend on the type of class. Pretty much all lecture based courses can be taught online, and many labs have the capability to as well. Personally I have taken numerous online classes in the past and had no issues learning from them or retaining information. The ones that will have difficulty getting away from an in person component are the professional based degrees like nursing that require a preceptorship or work based hours to graduate. Like you mentioned I think there are a lot of college students who prefer to learn in-person, because that has been the primary method most of their life. I would not be surprised in 10 years if the college kids view online learning completely different than college students today.

Regarding working people, I agree that the 9-5 seems to be obsolete. I believe that technology has allowed us not only to maintain communication, organization, etc. but also monitor and measure our productivity on both an individual and group level. Having those measuring systems in place have been extremely beneficial for us.

In terms of the older generation, I think that the pandemic has given many motivation to slowly embrace technology if not completely. Others that haven't yet, I don't see embracing it ever.

I agree that traditional office buildings will likely lose value, but other areas like co-working space will only grow. I also believe that in time we will see many going more towards a 4 day work week with 10 hour work days. 

Hi @Alex Borczyk Congrats on joining BiggerPockets! I would personally just try to learn as much as I can right out of the gates. There are a lot of resources here on BiggerPockets that are a great starting point. I would recommend listening to the BiggerPockets podcast, reading the guides and blogs, or even checking out some of the books they offer there.