Hello Bigger Pockets Community !
Hello everyone my name is Alan , I am currently 22 about to become 23 years old on the 27th of this month. I currently do not have any property's ,but I love to learn about real estate! it has become a hobby to read and hear what many investors are doing to make cash flow! I am posting here since the real issue I have or I guess fear would be repairs. I would love to connect with other aspiring investors or even be coached ! I would greatly appreciate it if anyone has any advice in learning on home repairs or is willing to train and guide me! ,anyways thank you all for taking the time to read this!
Quote from @Alan Perez:
the real issue I have or I guess fear would be repairs.
To address this fear I would recommend this:
1. Get yourself a book about home repair, maybe something like this. Leaf through it and soak it in.
2. Find a friend or relative who owns property who's willing to let you try your hand at a super simple project, like cleaning out the trap under a sink or replacing an electrical switch faceplate with one in a different color. Watch a Youtube video on how to do it. Then do the project and feel the sense of pride and accomplishment.
Understand that although larger repairs might involve more steps, more time and more tools, houses are just collections of parts and you'd be amazed how much can actually be fixed with five minutes and a screwdriver. I've loved the process of learning to do my own repairs over the years on my primary residence.
I'm not trying to encourage you to become a handyman, but with a little research you can get the general idea of the steps or parts involved in certain common repairs. That knowledge will build your confidence to hire professionals at fair prices for the parts and their labor.
Quote from @Nathan A.:
Quote from @Alan Perez:
the real issue I have or I guess fear would be repairs.
To address this fear I would recommend this:
1. Get yourself a book about home repair, maybe something like this. Leaf through it and soak it in.
2. Find a friend or relative who owns property who's willing to let you try your hand at a super simple project, like cleaning out the trap under a sink or replacing an electrical switch faceplate with one in a different color. Watch a Youtube video on how to do it. Then do the project and feel the sense of pride and accomplishment.
Understand that although larger repairs might involve more steps, more time and more tools, houses are just collections of parts and you'd be amazed how much can actually be fixed with five minutes and a screwdriver. I've loved the process of learning to do my own repairs over the years on my primary residence.
I'm not trying to encourage you to become a handyman, but with a little research you can get the general idea of the steps or parts involved in certain common repairs. That knowledge will build your confidence to hire professionals at fair prices for the parts and their labor.
Thank you so much Nathan ! this defiantly eased my fear !
Quote from @Alan Perez:
Hello everyone my name is Alan , I am currently 22 about to become 23 years old on the 27th of this month. I currently do not have any property's ,but I love to learn about real estate! it has become a hobby to read and hear what many investors are doing to make cash flow! I am posting here since the real issue I have or I guess fear would be repairs. I would love to connect with other aspiring investors or even be coached ! I would greatly appreciate it if anyone has any advice in learning on home repairs or is willing to train and guide me! ,anyways thank you all for taking the time to read this!
Welcome to the forums! Repairs are a lot less scary or painful when you expect them and budget for them. Build them into your numbers and try to improve your own DIY skills if you enjoy that sort of thing but otherwise you'll want to develop a list of reliable contractors that you trust. As time goes on you'll get more comfortable dealing with contractors and perhaps doing some repairs yourself. Youtube is also a fantastic resource for learning how to repair just about anything.
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@Alan Perez welcome to the forums! It is so awesome that you are starting so early on this journey, and I applaud you for getting ready to dive in. Early on, the best thing is to go to meetups and networking events to meet other folks who have done this before.
Chicago Real Estate Investor Meetups (straightupchicagoinvestor.com)
I also recommend you listen to the Straight Up Chicago Investor's Podcast. I have learned a lot even as an experienced investor and agent because I can listen to folks who specialize in different areas of the Chicago MSA.
Expert Perspectives on Investing in Chicago Real Estate | Straight Up Chicago Investor Podcast
Looking back, I guess I had the same fear as you in the beginning. But once I understood how houses were built, that fear completely went away.
Its a lot less intimidating once you understand that a house just consists of:
1. A foundation
2. Some walls
3. Roof
4. Heating / cooling system
5. Hot and cold water lines that run from the water source throughout the home to everything that needs water
6. Wiring that runs from the power source (panel) throughout the home to everything that needs power
7. Insulation in the walls
8. A bunch of finishes to make it look pretty (drywall, paint, floor tile, cabinets, countertops, light fixtures, backsplash, sinks, faucets, bathtubs, etc)
Not much else to it. And if anything ever goes wrong, most things are easy and inexpensive to fix. I recommend you watch some YouTube videos that show houses being built so you understand what is going on behind the walls. And as @Nathan A. suggested it would be good if you could get some hands on experience as well. But don't let this fear hold you back. There is always a handyman or contractor out there to fix any issue that could ever be needed on your home.
Hi Alan-
Welcome to BP! I'd love to offer advice and help you get started on your real estate journey.
Would love to connect.
Quote from @Paul De Luca:
Quote from @Alan Perez:
Hello everyone my name is Alan , I am currently 22 about to become 23 years old on the 27th of this month. I currently do not have any property's ,but I love to learn about real estate! it has become a hobby to read and hear what many investors are doing to make cash flow! I am posting here since the real issue I have or I guess fear would be repairs. I would love to connect with other aspiring investors or even be coached ! I would greatly appreciate it if anyone has any advice in learning on home repairs or is willing to train and guide me! ,anyways thank you all for taking the time to read this!
Welcome to the forums! Repairs are a lot less scary or painful when you expect them and budget for them. Build them into your numbers and try to improve your own DIY skills if you enjoy that sort of thing but otherwise you'll want to develop a list of reliable contractors that you trust. As time goes on you'll get more comfortable dealing with contractors and perhaps doing some repairs yourself. Youtube is also a fantastic resource for learning how to repair just about anything.
Thank you Paul ! I will take hold into this advice!
Quote from @John Warren:
@Alan Perez welcome to the forums! It is so awesome that you are starting so early on this journey, and I applaud you for getting ready to dive in. Early on, the best thing is to go to meetups and networking events to meet other folks who have done this before.
Chicago Real Estate Investor Meetups (straightupchicagoinvestor.com)I also recommend you listen to the Straight Up Chicago Investor's Podcast. I have learned a lot even as an experienced investor and agent because I can listen to folks who specialize in different areas of the Chicago MSA.
Expert Perspectives on Investing in Chicago Real Estate | Straight Up Chicago Investor Podcast
Thank you so much John ! haha yeah a lot of people kept telling me I was too young to get into this, your advice soothed my worries of age ! as far as networking & meet ups(including the podcast) I will be taking advantage of these resources thank you so much for this!
Quote from @Scott E.:
Looking back, I guess I had the same fear as you in the beginning. But once I understood how houses were built, that fear completely went away.
Its a lot less intimidating once you understand that a house just consists of:
1. A foundation
2. Some walls
3. Roof
4. Heating / cooling system
5. Hot and cold water lines that run from the water source throughout the home to everything that needs water
6. Wiring that runs from the power source (panel) throughout the home to everything that needs power
7. Insulation in the walls
8. A bunch of finishes to make it look pretty (drywall, paint, floor tile, cabinets, countertops, light fixtures, backsplash, sinks, faucets, bathtubs, etc)
Not much else to it. And if anything ever goes wrong, most things are easy and inexpensive to fix. I recommend you watch some YouTube videos that show houses being built so you understand what is going on behind the walls. And as @Nathan A. suggested it would be good if you could get some hands on experience as well. But don't let this fear hold you back. There is always a handyman or contractor out there to fix any issue that could ever be needed on your home.
Thank you Scott ! Yes I agree haha , I will be looking into videos and doing my best to get hands on, I am getting excited and more confident as I see these replies thank you!