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24 October 2021 | 57 replies
In the RE space, that means you need to be in and out of a deal quickly or refinance your principal out of the deal so that you can recycle that money in another deal (which is why the BRRRR strategy is so popular).
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20 September 2020 | 9 replies
Milk it as best you can to get yourself in a better financial situation!
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24 September 2020 | 88 replies
These are the books that I still wish I would have/could have read when I was 18:Mindset/Money Management:Rich Dad, Poor Dad by Robert Kiyosaki- the foundational real estate book everyone should readTotal Money Makeover by Dave Ramsey - the foundational personal finance book about budgeting and saving your money because you'll need to save as much of your money as possible to succeedThe One Thing by Gary Keller - foundational book on how to stay focused on what really mattersReal estate books:How to Invest in Real Estate by Brandon Turner - Real life stories on many different ways to invest in real estateReal Estate Investing with No and Low Money Down by Brandon Turner - Breaking the myth that you need massive amounts of capital to become wealthy in real estateThe Book on Rental Property Investing by Brandon Turner - explains how to buy and hold property and why it's the foundation on obtaining long term wealthLong Distance Real Estate Investing by David Greene - this explains the systems anyone can/should use to buy real estate in any market around the country including your own local marketBuy, Rehab, Rent, Refinance, Repeat by David Greene - explains how to fast-track your wealth in real estate by recycling the same money to buy property after propertyFlipping Houses by J Scott - learn the flipping process to increase your income and have more money to buy rentalsRecession-Proof Real Estate Investing by J Scott - learn how our economy works, how it affects the real estate market and how to prevent yourself from losing your propertiesManaging Rental Properties by Brandon Turner - in-depth, how-to guide on managing properties and how to organize yourself; even if you use a property management company, it'd be great to know these skillsFinding and Funding Great Deals by Anson Young - ideally, your main method for finding deals should be by establishing great relationships with Realtors, wholesalers, and other investors but understanding how to find off-market deals and later pursuing these deals after you've established yourself could be beneficialRehabbing/renovation:Book on Estimating Rehab Costs by J Scott - learn how to define and calculate your renovation budgetHow Your House Works by Charlie Wing - visual guide to understanding and maintaining your houseComplete Guide to Home Inspection by Roger Robinson - know how to inspect a property and what to look for when looking at a propertyRenovation by Michael Litchfield - In-depth look at how to do almost any renovation projectComplete Guide to Contracting Your Home by Kent Lester - fully understand the contractor's job and how to effectively communicate with them Dream Home by The Property Brothers - understand the mindset of a home buyer and which renovations are most sought afterPeople/Negotiation... real estate is a people business and your ability to effectively communicate with others and build relationships will end up being the most important part of your real estate journey:How to Win Friends and Influence People - foundational book on building people skills and possibly one of the most influential business books of all timeThe Book on Negotiating Real Estate by J ScottNever Split the Difference by Chris VossPitch Anything by Oren KlaffOkay, now I'm looking back at this list and realizing just how exhaustive and probably overkill it is for an 18 year old.
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13 October 2020 | 52 replies
Meaning with no value add potential, I'm going to have a hard time recycling my initial down payments into more properties.
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9 October 2020 | 14 replies
I love the BRRRR strategy because it allows you to recycle your money in multiple deals and speed up the process of getting to financial freedom.
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17 November 2020 | 14 replies
I get trash picked up either weekly or bi weekly and we don't have any recycling sadly.
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15 October 2020 | 3 replies
I know that if I want to scale I have to learn the skillset of acquiring properties without using my own cash or by recycling my own cash.
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20 October 2020 | 6 replies
The animals held their value in dollar terms and he could eat or sell their milk for short-term cash.
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31 October 2020 | 5 replies
I'd add info on garbage pick up and recycling, if you have a community mailbox, where it is and how to get a key and any info they might need for utilities.
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28 August 2021 | 5 replies
You buy in a terrible neighborhood and no matter how fast you repair things they will be recycled by the thugs in the neighborhood and your house will never have HVAC.