All Forum Posts by: Tom Conant

What if I told you... ready... that you could meet in the middle. You could set standard analysis metrics like all the finance people on here and also use the % rule to supplement those analyses like everyone else! Team work makes the dream work, Tommy

Hey Sharif, I hope all is well in New Mexico! Probably a lot warmer than it is up in RI. Anyways, I would like to know more about your knowledge in finance? I feel as though that is the hardest part for most RE investors to grasp. You’re on the right track though by picking up and reading about every aspect of RE investing. On a base level, RE and finance (stock trading) are similar. You’re trying to capitalize on inefficiencies of the market. Just be weary that RE is much more long term and I have found that many finance ideologies do not transfer directly to real estate. My advice would be to hit the podcasts and maybe gain some technical knowledge. Read a book on how to build a house. You can see the best deal in the world and a guy who talks the talk AND walks it will get it over someone who just walks it. Does that make sense? Anyway, good luck! Hope this helped! Tom

Sounds like they think you have a ton of potential, and they want to use all that potential to their advantage by locking you into a cookie cutter system that ‘works’ as long as any of the underlying metrics work and they want you to teach that system to other people 🤷🏻‍♂️rich dad poor dad teaches you whyyyy to learn in my opinion not how. That’s the easy part. Actually being successful, Im still struggling on that part lol

I know that the perfect esthetic can be super hard to get but you can get super close with the tips and tricks found online. My brother used the regular white shell install for the basin in his southie apartment then accented it with DIY tile, rainfall head install and glass 3/4 wall on the shower side Really opened up the small apartment bathroom and also gave him something fun to do without hiring a contractor🤷🏻‍♂️ Thanks, Tom

Hey peeps, I agree mostly with what everyone said but I see one problem. You didn’t seem to build in downside risk, unless I’m missing it or you just didn’t mention it. What happens 5 years down the road if that refinance doesn’t come it at the appreciated number you thought it would have? Then you can’t pay your friend back if you don’t get that liquid cash from somewhere. On the other hand, if you finance the down payment yourself or with much less interest, you decrease your exposure to that downside risk. What I mean by this is, if you pay cash down payment and maintain $600 in positive cash flow each month, you would be able to absorb $600 dollars of downside risk (all theoretical) before your investment started to flow cash negatively. If you leverage your down payment you are also taking on a lot more risk. This is also assuming that you don’t have the liquidity to pay your obligations any other way. To close I would just make sure that you are assessing your risk from every angle. More interest, no matter where it’s coming from can be added risk if it’s not calculated fully. I’m also a noob so feedback is greatly appreciate! Hope this helped, Thanks for the interesting thread, Tom

Hey fam, Wanted to reach out to ask about the Providence Rhode Island Market. In my estimation it would be a good market to analyze because of its geographic location between New York and Boston. I don’t know if this would be a good or a bad thing either. Thanks for any input or feedback! Tom

Hey peeps, Make sure you read really deeply into your town ordinances. I know in my town in RI they are allowed but there are certain qualitative perimeters that a building inspector would likely harp on. For instance, ADU’s here are only allowed for the very specific purpose of having your children build a secondary dwelling on your property. You CAN however use the intricacies of the code to your advantage by looking into what makes and ADU an ADU. then push the limits of an ‘occupancy space’ that doesn’t have an oven let’s say so it’s not a ‘kitchen’ and therefor not an ADU but you could still build. Does that make sense? I’m also no legal expert. My guess is lawyers will tell me it’s illegal and everyone else will tell me they’ve done it once or twice, idk 🤷🏻‍♂️ That’s from my very very brief experience, Thanks Tom

I think you’re looking for your weighted average cost of capital. That will tell you how much it costs to lose cash, or to owe cash in the long term.

Firstly, all my thoughts and prayers go out to anyone affected by these fires running through Cali right now. But, many times helping people out of dire situations, like owing money on a burned down home without insurance can be exactly what they need to get back on their feet, after tragedy strikes. Is anyone filling these developments? I’m from RI and I am just interested🤷🏻‍♂️ Thank you, Tom

Ayyy what’s up guys. I’m new to this as well but wanted to reach out and say welcome. I can’t add much value to this discussion but I can’t say keep hustling. Tom