Do you have the skills to do the work yourself, or would you have to hire someone?

I also factor in soft budgeted expenses like cap ex, maintenance, and vacancy.For example, if I had a $3k rental and the hard expenses were $2,200 you might view this as $800 cash-flow positive, but I am going to budget maybe 15% for those soft expenses and my cash-flow would be $350 per month.

A degree is something not only to fall back on, but also gives you skills.

With that being said, most of the people in my immediate network who are in the construction business say the most valuable skill is just being able to run a team and a job efficiently and if they could start over they would go the GC route.

The wealth of knowledge shared in this community has not just boosted my skills but opened up new pathways for me in the real estate realm.

Even though I have a business degree from a prestigious NYC University my skill set from owning my own business for 25 years did not transfer into my eventual W-2 job or the job market itself.

@Billie Young like I said, the 90% is NOT the norm... some of these owners are skilled marketers, agents, etc.

😁 Your Name: Jeff Davis🧠 What would you consider your area of expertise: inside real estate my area of focus is value-add multifamily, outside of real estate I have expertise in marketing strategy🙌 What are you most looking to get out of BPCON 2024: Improving my deal analysis skills, connecting with more experienced real estate investors to gain insight and wisdom, and building a community of other like-minded people. 🤝 Fill in the blank: If I could make a great connection with someone who is an expert in deal analysis at BPCON2024 then I would leave BPCON happy🗓️ What session are you most looking forward to?

By the end of the year I had two skilled partners (and many more experienced investors interested in working with me/us) I met in the group.

Build a Strong Team and DelegateAs you grow, it’s critical to surround yourself with skilled professionals who can take on various tasks, allowing you to focus on high-level strategy.