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25 November 2024 | 9 replies
I'm in a different area, but I just paid a plumber ~$200 an hour to do some work....clearly I am in the wrong profession, but I know equipment and skills are needed.
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26 November 2024 | 9 replies
You also need to be able to rely on project management skills to manage the project to stay on track.
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25 November 2024 | 19 replies
I have some web design skills (I'm an engineer, so easy to learn new programming languages) and I'm currently testing my new system to manage the tenants.
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23 November 2024 | 11 replies
Yes if you have any deals you're looking at to get a second opinion and hone your skills of deal analysis I highly recommend submitting a deal for Dave to maybe review.
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22 November 2024 | 15 replies
It sounds like you’re in a solid position with your skills, VA loan access, and local handyman expertise.
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24 November 2024 | 19 replies
This can lead to more opportunities and partnerships.Market Understanding: As a property manager, you'll gain a deeper understanding of the local market, which can be invaluable when you start acquiring your own properties.Steady Income Stream: Property management can provide a consistent income, which can be particularly beneficial in the early stages of your real estate venture.Skill Development: You'll develop a range of skills from customer service to maintenance oversight, which are crucial for successful property ownership.Brand Recognition: Establishing a presence as a reliable property management company can boost your reputation, making it easier to attract tenants and investors when you start acquiring properties.Cons:Time Commitment: Property management can be time-consuming, especially if you're dealing with multiple properties or demanding clients.Regulatory Compliance: Staying compliant with local laws and regulations requires diligence and can be complex.Conflict Resolution: Dealing with tenant issues and conflicts is an inevitable part of property management and can sometimes be challenging.Financial Risk: There are financial risks involved, including late payments or damage to properties.Market Fluctuations: The property market can be unpredictable, affecting both rental income and property values.Overall, starting with a property management company can be a smart way to enter the real estate space, especially in an area with a clear need for such services.
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27 November 2024 | 13 replies
I leveraged some rehab skills most of which I learned as I went.
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20 November 2024 | 4 replies
Their perception of their skills far outweighs their actual knowledge, leading to costly mistakes.The other path is paralysis: they begin to realize how much they don’t know and become stuck, afraid to make a move.
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21 November 2024 | 23 replies
They then use their new knowledge and skills to take on bigger projects which they then BRRRR to scale more aggressively.I don't know a lot about North Carolina but I know there's investors there seeing great success.
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21 November 2024 | 15 replies
They go over a lot of the fundamentals that I completely agree on as a high skill operator in this space.