How to break into the real estate field

mommy1000

Sun, Feb 26 2023, 9:25 pm

amother Vanilla wrote:

Jealousy much? We saved up to buy a small piece of RE with our hard earned money. It took years of sweat, so thanks for your assumptions.
I actually know many people who did like we did, nothing to do with their Totty.

I second this!! All my real estate is my own. Nothing from Totty. Wink

amother

Sun, Feb 26 2023, 9:26 pm

sarandipity101 wrote:

Haha I beg to differ. I have lots of properties but have a hard time finding funds to fund them.

Then how do you already have them? Don’t you need the funds before you close?

amother

Aconite

Sun, Feb 26 2023, 9:27 pm

sarandipity101 wrote:

Both definitely bring wealth. Many people prefer passive investing due to time constraint in managing the deals.

sure its possible.. I'd suggest speaking to someone IRL that has done this already and was matzliach.. hatzlacha

mommy1000

Sun, Feb 26 2023, 9:27 pm

amother OP wrote:

Obviously that’s a lot easier… more passive… but can it really build wealth?

All the young millionaires are probably the syndicators not passive investors.

They all make it seem so easy

Absolutely! Investing your funds with high rates of return can bring you cash flow and wealth.

amother

Aconite

Sun, Feb 26 2023, 9:28 pm

sarandipity101 wrote:

I second this!! All my real estate is my own. Nothing from Totty. Wink

same here!! I still rem the first property we bought... we had a red line and wouldn't touch that savings account... it wasn't easy!

amother

Sun, Feb 26 2023, 9:28 pm

amother Aconite wrote:

sure its possible.. I'd suggest speaking to someone IRL that has done this already and was matzliach.. hatzlacha

Sure what’s possible?

We’ve tried speaking to people but with the exception of one kind individual generous with his time, everyone else laughed us away. Ouch!

mommy1000

Sun, Feb 26 2023, 9:28 pm

amother OP wrote:

Then how do you already have them? Don’t you need the funds before you close?

Yes, funds required to close! Getting the funds in place is my biggest hurdle.

amother

Sun, Feb 26 2023, 9:30 pm

[quote="sarandipity101"]Absolutely! Investing your funds with high rates of return can bring you cash flow and wealth.[/

What is considered a high rate of return?

amother

Wheat

Sun, Feb 26 2023, 9:30 pm

amother Vanilla wrote:

I work in health care and am not jealous at all. I work very hard as well. It’s not a contest. You seem to take this as a personal attack. Not sure why. I live in a neighborhood full of people whose fathers bought their houses and employ them and whatever.

amother

Silver

Sun, Feb 26 2023, 9:30 pm

I second the owners class. My husband is taking the course now, they literally teach you everything

amother

Sun, Feb 26 2023, 9:31 pm

amother Wheat wrote:

Truthfully most of the people I’m thinking of, their fathers do this on a larger scale, or their older brothers…

But there are many self starters as well

We’re in our 30s and feeling like we missed the boat

amother

Sun, Feb 26 2023, 9:32 pm

amother Silver wrote:

I second the owners class. My husband is taking the course now, they literally teach you everything

What’s the cost and time commitment? Is it a lot more material than the one day class?

mommy1000

Sun, Feb 26 2023, 9:32 pm

[quote="amother OP"]

sarandipity101 wrote:

Absolutely! Investing your funds with high rates of return can bring you cash flow and wealth.[/

What is considered a high rate of return?

Everyone has different benchmarks. What is high for one person is low for another person.

amother

Vanilla

Sun, Feb 26 2023, 9:32 pm

amother Wheat wrote:

Employ them doesn’t mean giving them free real estate. Stop with the assumptions.

mommy1000

Sun, Feb 26 2023, 9:32 pm

amother OP wrote:

You def didnt miss the boat! Jump on the wagon Smile

amother

Sun, Feb 26 2023, 9:32 pm

sarandipity101 wrote:

Everyone has different benchmarks. What is high for one person is low for another person.

All the deals I am seeing are about 8% which ends up being similar to the stock market

amother

Sun, Feb 26 2023, 9:33 pm

amother Vanilla wrote:

Employ them doesn’t mean giving them free real estate. Stop with the assumptions.

Even just taking their smaller sums, or their friends’ smaller sums is huge. Many of these big guys won’t look at a number less than 200k unless you’re their child or brother.

Which they should do for family, I would do the same, I wish I had a parent or sibling who couldn’t help me get started

mommy1000

Sun, Feb 26 2023, 9:34 pm

amother OP wrote:

What’s the cost and time commitment? Is it a lot more material than the one day class?

As much time as you give it, the more successful you will be. The one day class is a teaser. The course teaches it all.

You need to be self motivated in order to succeed. If you are not self motivated, dont waste your $

amother

Silver

Sun, Feb 26 2023, 9:34 pm

amother OP wrote:

What’s the cost and time commitment? Is it a lot more material than the one day class?

Its approx $12k, depending on the payment plan you choose. You need to put in an average of 6-8 hours a week.

mommy1000

Sun, Feb 26 2023, 9:44 pm

amother OP wrote:

All the deals I am seeing are about 8% which ends up being similar to the stock market

8% is on the lower end imho. My deals all yield higher rates of return than that. But thats why I said everyone needs to make financial decisions based on what rates of return theyre looking for.