All Forum Posts by: Zach Upton

@Natalie Schanne

I’d be cautious parking $500k into the stock market do some research into Shillers PE ratio. We’re at highs only matched in 1929 and the tech bubble. It basically means that prices are double of what they should be in a healthy market. But we all know when things go down they regress past the mean so we’re looking at a potential 60-70% drop in the stock market.

That being said maybe this is the new normal or we still have some time left. But I believe what mark Twain said, “History doesn’t repeat itself, but it often rhymes.”

@Ethan Max Egan O’Brien at PFS financial services 203-313-7281

@Daimyan Hutchison

Hi Daimyan I’m a contractor and I always buy the building materials like drywall, lumber, etc. There’s just no way you’d know the hundreds of different random little items that go into a basic project. On the flip side I have my client buy any of the finishing touches known as allowance items because there’s no way I’d be able to know exactly what style you want. These allowance items include tile, vanity, light fixtures, etc. There is a large price range with these items, you could buy a $300 vanity from Home Depot or you could buy a $3000 custom one so it’s difficult to guess where on that scale the customer is. But your contractor should be able to accurately estimate the costs of the building materials for the job.

@Rob Hines

Egan O’Brien 203-313-7281

@Jackie Comitino

I’d invest where you know. I know in my area there’s so many invisible lines that completely change the rents, quality of tenants, etc. it’s so bad that the appraisers even mess it up. You have a competitive advantage close to home. Build relationships in your area and go from there.

Based on what you've said I'd go duplex and house hack with roommates if you're worried about negative cashflow.  Hopefully that'd get you close to break even but even if it doesn't I'd assume your monthly costs would be less than if you were renting a place so there's some hidden savings there.  

I'd look for a property that has that value add because thats what's going to get your real estate career started.  The first one's the toughest but once you have your foot in the door it'll get easier.  I'm one my second now and my only regret is I wish I pulled the trigger sooner.  

I would double check taxes I'm paying closer to $1,000/month in black rock.  Mine are two families but defintely worth making sure that you have the exact number.  

I'm coming too

I joined BiggerPockets about a week ago but I never officially posted so here it is!  I'm interested in Flipping houses and being hands on with the job throughout the whole process.  I'm graduating college from Clemson University this Friday but after that I'm coming back home.  Someday I want to flip houses in Connecticut but until then I plan on getting my real estate license and working construction to learn more about the field (I've worked for a company that flips and remodels houses for the past 7 summers).  I'm extremely excited to be part of the BiggerPocket community!