All Forum Posts by: Andrew M.

I know these are essentially two different question but I figured this was better than two separate threads.

I was wondering how much time is necessary to devote to REI and how you manage your time between investing and another job or other commitments.

So what is the time requirement for trying to run positive cash flow rental property. If you are hiring a PM is this time commitment extremely minimal or are you still going to be putting alot of time into your property.

Again for rehabbing. Would you even be able to hold a full time job and rehab on the side. Is rehabbing essentially a full time or is it the sort of thing you could manage on your nights and weekends?

Any help would be appreciated!

I'm currently finishing up my college education. To be more specific I have 5 classes or 16 credits left before I graduate with an economics and anthropology major. Out of these classes, 3 have to be economics courses while the other two can basically be whatever I want them to be.

As I have recently decided that I want to start investing in real estate young, I figured maybe I could use the two extra credits in the direction of something that could help me in future real estate investing pursuits.

So if I had to pick two classes what should they be? Two finance? A finance and an accounting? Asian literature between 1245 and 1256.

Any help would be appreciated.

I was wondering whether multi unit properties or single unit properties present more vacancy risks.

In one way I could single units safer because you can focus all your attention on the single unit, and because once you have a stable tenant your looking at guaranteed 0% vacancy.

On the other hand I could see multi unit being better because if a tenant walks out you are not necessarily facing 100% vacancies although you are probably likely to spend more time with more than 0% vacancy.

Any thought on this would be appreciated.

I know that a proper inspection will eventaully be needed but this is just real preliminary.

Is there anything that you look for in a house where if you see it you know 100% to run or know for a fact that there could be problems in the future. Any specific appliance or hvac stuff you look for in an initial viewing? Any other things that might be easy to notice?

At the end of the week, I'm going to look at a property that my firends aunt is going to use as rental property. Its kind of a long story but I will hopefully get to live there for free in exchange for help managing it.

In any case, I want to be as well prepared to evaluate the properties I look at as possible. I was wondering if anyone has a checklist they use or any specific tool they use to evaluate potential rental property. Any advice would be appreciated.

So this week I made a pretty big decision. I'm dropping out of college. I know not too many people would consider that a good thing but it was a descision I made intentionally for a lot of reasons.

The biggest reason I did this was so I could start saving up money. Now that my parents arent paying for my college they have agreed to cover my living expenses ( food and housing) for the next three years. This gives me an amazing oppurtunity to acumulate some savings over the next couple years. My plan is to work construction until I can find a job either as an intern for someone who invest or for a property management company. My goal is to have 40000 saved up by the end of this period. I have about 5000 so far. If i had stayed in college i would instead be way in debt.

The second part of this is that i found an investor looking for an intern on craigslist. I'm always skeptical of these types of things but all of his credentials check out and he isnt a guru or trying to sell me something so it seems like it could be an amazing oppurtunity.

My problem is that he wants a resume and i dont have much to put on one. I have a good internship with a financial company to put down and i could get a good reference but thats about it. Does anyone have any ideas about what i could put there or if it would be a good idea to just write an email about why i feel id be a good candidate even though i cant provide a great resume. Any ideas would be appreciated

I am currently a college student and am using my time in college to gain experience before investing. my question is how practical/ beneficialit would be to work for a local property manager. Also do i have any chance of getting a job just walking into an office and asking for a job?

any advice would be greatly appreciated.

so i started posting on this website about a month ago and i was posting alot for about a month. but i decided to step back to give me some time to asess my goals and figure out a game plan for how i wanted to get into investing.

im going intio my sophmore year in college and have about 5000$ to my name right now. my plan is to save up money while in college and invest in re once im out. ( ill be 21) my goal is to have about 20-30 k in liquid money at the end of this period. my goal is to make this money through jobs that are going to give me some type of experience that will help me out as an investor/ landlord. any jobs i can get working with other investors or jobs that where i can learn handyman type skills is what im going for. im also thinking about trying to do some day trading but i havent settled on that yet.

i know this forum is big on acting quickly and not procratinating but the way i see it i am very young and i see this as all part of the big picture of my investment plan. also im pretty much 100% sure i want to make a career out of rei for a variety of reasons and im not worried about losing interest or anything like that.

that being said i have 2 questions

1) any commentarym, criticism, ideas for my plan

2) i have been thinking about getting my realtors license in the next two years. is there anyways that a realtors license can be a hinderance to a re investor. any legal restrictions that realtors have that make it hard for them to invest? yay nay on getting the license

anyway this forum has been a huge help to me and i apreciate everything. thanks and i look forward to veryones responses

edit- my final part of this plan that i forgot about is that i have a credit card out in my name which my mom is using for her business. she is responsible and the business does well so im not worried about her screwing it up. after several years of her building up my credit i should have extremely good credit

for the record i am not in any way looking to actaully do a deal that big at the currrent time nor do i have that kind of money. i was just wondering how that worked because my long term goal is to get into commercial real estate. probably large apartments.

i know 10 percent is supposed to be a gennerally good amount to put down on rental properties. does this keep holding true for much larger properties. like if i bough a 3 million dollar property would i likely have to put more than 300k down ?