All Forum Posts by: Mateusz Prawdzik

Okay, so I am not too experienced in the Real Estate Investing scene but I am quite knowledgeable when it comes to market investing. Lets look at it this way, ready? Okay so, 10 years to break even if you drop an extra $10k, or potentially sell it now (if anyone would want to buy it) for a -$15k net lose. Now these are the options lets paint a little picture... when it comes to market investing, holding for a long time no matter the risk/reward of the stock, usually equalizes the return because over a longer holding period the ROE usually ends up in the positive. Now we don't know this time frame in the stock (might it be 10 years or 100 years.) But the best thing to do is sell your losers and obtain another winner even if you lost money on your losers.

What I'm basically saying is, that instead of throwing more money into a property that is going down and potentially going to keep going down, and if held would BREAK EVEN at 10 years. For me, that time horizon is really long, 10 years is a very long time, in that time you could have sold this crappy property and bought 5 better ones that would be better to rent out.

For future prospects, do more in depth valuation on your investment. Never go off on a limb because you will a lot of money REALLY fast. Like Warren Buffett said.. "risk comes from not knowing what you're doing." 

Always do your research first.

Hey there Bill. It's great to see people with just as much ambition towards become "financially independent" and let their own money work for them instead of the other way around. I am new to the REI scene too and am looking for partners/mentors to help me grow and expand my knowledge on the matter. I definitely recommend reading the REI beginner guide under the BP education tab for starters. I am currently in the process of reading it and it definitely has thought me quite a bit.

As far as partners goes, even though were are located on total opposite sides of The United States, we could definitely team up and learn and grow together. Keep in touch, let me know how your ventures are going.

@Oleg Thanks, I realized that you said that you were an agent in NYC. Please keep in touch with me if you find some houses/apartments that you see as good buys. 

I would like to formal introduce myself. My name is Mateusz Prawdzik, but people call me, Matt. I am young and ambitious, looking for a mentor in real estate investing that could teach me anything and everything there is to know about investing. I have market investing for quite some time now and realized that there is others ways of establishing financial freedom, real estate investing being that other way, I decide to start an uphill journey to becoming the next richest man on the planet. I am really eager to learn the trade and am ready to start hands on training/mentor-ship with someone in the tri-state area. 

Trying to start on my own, I realized that the task was quite hard and almost impossible to find connections with money lenders and contractors. This is when I decided to start looking online for mentors/professionals to help me with my journey and happened to stroll onto BiggerPockets (BP). Hopefully, BP will help introduce me to seasoned investors and are willing to take someone consistent, persistent, motivated, and determined under their wing.

A little about my future ambitions: I am hoping to start flipping and owning rental properties before the age of 21. Yes 21, I am only 19, and though this goal might seem quite surreal, I am almost sure that I can accomplish it. 

I'd like to take the time now to THANK everyone in advance for welcoming me to the community and wish you all happy investing.