All Forum Posts by: Account Closed

Well put.

Thanks so much for the helpful suggestions. I really appreciate it. Good avenues to explore.

Investors: How can I learn basic construction?

A little bit about myself: I work in commercial real estate for the federal government, doing portfolio management (office properties). I'm also an MBA student at night at Villanova University studying real estate and finance concentrations. So... I have a strong grasp of many aspects of real estate and investing. Additionally, I own one single family rental property (3BR house in South Philly) that I kind of stumbled into.

So my long term life goal is to build wealth through real estate by pretty much any means necessary (while being highly ethical). Ideally, I would like to do rehabs and then rent them out. What my challenge is, is that I have limited practical knowledge of construction. I was working with Habitat for Humanity, which was helpful, until I got sidelined by a sports injury. I will be having surgery in a couple months, at which point, manual labor will once again be feasible.

I realize that basic construction is far from rocket science, but I did not grow up in a very handy household and I think that as a result of that, I am intimidated by carpentry, plumbing, electric, etc. I realize I can contract for all of that, and am comfortable getting multiple bids from contractors, but I am intimidated dealing with them only in the sense that I don't have enough hands on knowledge to fact check what they tell me. Also, I'm a little concerned about buying rehab worthy properties but not picking up on major issues that could blow my rehab budget.

Any ideas how to develop this skill set? I think it would be easier if I didn't have a 9-5, but then again if I didn't have a 9-5, everything else would be more challenging.

Thanks!!!!

Mike Welch - Couldn't agree more with that last paragraph.

It is impossible to wrap one's head around all the complexity of investing in stocks, not to mention the questionable nature of most financial statements / 10Ks.

I also like to invest in something that I understand and can actively add value to. Also I know eventually, I'll have the property paid off and it'll just be straight cash flow baby!!!!

Glenn - Don't get an MBA unless you are dead-set on it. It is expensive and work intensive and if you are unsure if it's for you, it's probably not.

Hi, I'm brand new to the forum, but here is my background:

BS Economics
MBA - real estate and finance concentrations

Work with office properties at my 9-5.

Just getting started in personal real estate investing.