4 ms·

Well your own link states how fixers are not really a good idea, but you want "disasters" and trasform them in "fixers". And it is not like you can find such d

by jaclaz 4y ago

Well your own link states how fixers are not really a good idea, but you want "disasters" and trasform them in "fixers". And it is not like you can find such disasters easily, nor that you can easily be able to make them into fixers, without years of previous experience. The whole approach, "everyone is scared but you know ..." is based on the assumption that you know more than anyone else (possibly including many people dealing with this kind of stuff for decades), I doubt that anyone can learn what is needed in this field overnight, by reading a book, and should it be possible, everyone would do it, not just you.

bombcar 4y ago
Yeah, that's the whole problem with "make money in real estate" - either it requires (somewhat specialized) knowledge and risk-taking, or you're just gambling on insane appreciation and leveraging that. Anything that "anyone can do" is going to explode at some point.
- jokethrowaway 4y ago
  insane appreciation is not that crazy given how our governments keep devaluating our money keep assets instead of cash and you'll be a genius
- jaclaz 4y ago
  Let's put aside for the moment the risk-taking aspect. The "somewhat specialized" knowledge can be explicited as four main things: 1) years (and I mean years) of experience in the field (to be able to quickly assess the non-evident potentialities of a building) 2) knowing a few good, tested, reliable technicians such as architects/engineers (to be able to get a valid project leveraging on these potentialities) 3) knowing (more than) a few good tested, reliable, capable firms (masons/carpenters/plumbers/electricians/painters/etc.) to actually execute the restoration 4) time to be dedicated to managing the project If you think that - even if you actually happen to find a "gem" - that you can make money hiring people you find on the internet or on the yellow pages, or that the people involved will manage to do a good work at a fair price by themselves, you won't go very far.

by jaclaz 4y ago

bombcar 4y ago

Yeah, that's the whole problem with "make money in real estate" - either it requires (somewhat specialized) knowledge and risk-taking, or you're just gambling on insane appreciation and leveraging that. Anything that "anyone can do" is going to explode at some point.

jokethrowaway 4y ago
insane appreciation is not that crazy given how our governments keep devaluating our money keep assets instead of cash and you'll be a genius
jaclaz 4y ago
Let's put aside for the moment the risk-taking aspect. The "somewhat specialized" knowledge can be explicited as four main things: 1) years (and I mean years) of experience in the field (to be able to quickly assess the non-evident potentialities of a building) 2) knowing a few good, tested, reliable technicians such as architects/engineers (to be able to get a valid project leveraging on these potentialities) 3) knowing (more than) a few good tested, reliable, capable firms (masons/carpenters/plumbers/electricians/painters/etc.) to actually execute the restoration 4) time to be dedicated to managing the project If you think that - even if you actually happen to find a "gem" - that you can make money hiring people you find on the internet or on the yellow pages, or that the people involved will manage to do a good work at a fair price by themselves, you won't go very far.