If you COULD start over again... What would you do?

Realtor · Erie · Member since 2022 · 194 posts · 88 votes

If you could start all over and do it again... What would you DO?

Would you have done Differently?
Would you have invested in a different RE class, to go slower or faster?

What have you built so far and knowing what you know now how would you have done things differently?

1 Reply

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Sarita ScherpereelBusiness Member

Real Estate Agent · Chicago, IL · Member since 2018 · 659 posts · 376 votes

I would have started house hacking out of college. Unfortunately, I started later in life and really wish that I would have not wasted so much time!

[email protected]773-456-4644

Sarita Sells4.933 Reviews

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Pierre E.Pro Member
Washington, DC · Member since 2016 · 123 posts · 42 votes
3y
in real estate I would have taken advantage of the STR loophole, and also gotten more mentorship for someone that understood the market I was in instead of using general advice. woulda been less headache more revenue.
1 Reply
Ben Einspahr
House Hacking Specialist · Denver, CO · Member since 2016 · 411 posts · 396 votes
3y
Bought a 4 plus bedroom home after graduating college (parents co-signing and helping with downpayment if needed) and rent by the room house hack every 12-24 months. These young professions starting out at 24 will be set up very well by the time they are 30. Hats off to them!
Keep it simple.
4 Reply
Sarita ScherpereelBusiness Member
Real Estate Agent · Chicago, IL · Member since 2018 · 659 posts · 376 votes
3y
I would have started house hacking out of college. Unfortunately, I started later in life and really wish that I would have not wasted so much time!
[email protected]773-456-4644
Sarita Sells4.933 Reviews
Website View Page
7 Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
3y
kept the homes I bought in the 80s in the SF Bay Area. Because I was afraid of a little bit of negative cash flow..
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7 Reply
Eliott Elias
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
3y
Nothing, every mistake and failure has shaped me to be a better investor.
5 Reply
Tommy Parker
Property Manager · Charlotte, NC · Member since 2022 · 269 posts · 135 votes
3y
I was slightly more fearful. I had analysis paralysis, and instead of understanding that everyone in real estate is different, I tried to box myself into what others did. I would definitely have house hacked right out of high school!
3 Reply
Yael Lederman
Miami, FL · Member since 2022 · 83 posts · 68 votes
3y
Read less, network more! Nothing beats relationships and putting learnings into practice. You learn by doing.
5 Reply
Mose Gebremeskel
Investor · Member since 2022 · 234 posts · 144 votes
3y
Quote from @Yael Lederman:

Read less, network more! Nothing beats relationships and putting learnings into practice. You learn by doing.

Couldn't agree more!
1 Reply
Alena Beecher-Ritchie
Real Estate Agent · Roswell, GA · Member since 2023 · 19 posts · 13 votes
3y
Would have kept all the homes I have sold and BRRR them. I would have been so much further along financially.
3 Reply
William CollinsPro Member
Investor · Rocky Hill, CT · Member since 2013 · 373 posts · 299 votes
3y
I had looked at doing a house hack duplex in my hometown rather than buying a single family house at the time I could not convince my wife. If I could go back in the rewind machine I probably would have bought that house which would have started me down the path on real estate five years earlier.
2 Reply
Michael K GallagherBusiness Member
Real Estate Agent · Columbus OH · Member since 2018 · 1k+ posts · 1k+ votes
3y
Quote from @Brandon Elliott-Pandey:

If you could start all over and do it again... What would you DO?

Would you have done Differently?
Would you have invested in a different RE class, to go slower or faster?

What have you built so far and knowing what you know now how would you have done things differently?

I would have not gone down the "manufacturing" road and industrial road that I went down early in my engineering career and would have instead gone into technical sales. I had a mental block around "needing to suffer" to earn my money, and the manual labor and long hours of manufacturing gave that to me. But I was salary, no matter how much I worked I made the same amount, its taken almost 3 years of not being in corporate America to unlearn (and I still battle them every day) the BS ideals they preach there, and I'm certain if I had gotten into a sales roll from the beginning I could have used that combined with my work ethic to bank way more cash by the time 2017-2018 rolled around to start investing.
[email protected]614-362-2231
2 Reply
Jaron WallingPro Member
Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
3y
Saved more and put a DP on a house instead of a used car! Started 6 years earlier when I moved to Indy instead of renting, moving, and renting.
1 Reply
Bob S.
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
3y
Quote from @Brandon Elliott-Pandey:

If you could start all over and do it again... What would you DO?

Would you have done Differently?
Would you have invested in a different RE class, to go slower or faster?

What have you built so far and knowing what you know now how would you have done things differently?

KEEP about 50 of the 500 I flipped in my market, HUGE mistake,
4 Reply
Brandon Elliott-Pandey
OP
Realtor · Erie · Member since 2022 · 194 posts · 88 votes
3y
Quote from @Bob S.:

Quote from @Brandon Elliott-Pandey:

If you could start all over and do it again... What would you DO?

Would you have done Differently?
Would you have invested in a different RE class, to go slower or faster?

What have you built so far and knowing what you know now how would you have done things differently?

KEEP about 50 of the 500 I flipped in my market, HUGE mistake,

Why would you keep 50? For cash flow purposes?
0 Reply
Brandon Elliott-Pandey
OP
Realtor · Erie · Member since 2022 · 194 posts · 88 votes
3y
Quote from @Jaron Walling:

Saved more and put a DP on a house instead of a used car! Started 6 years earlier when I moved to Indy instead of renting, moving, and renting.

Yea man, car payments are the bane of RE investing. Can't tell ya how many times I've seen outrageous payments that equate to 100's of thousands in RE...
1 Reply
Brandon Elliott-Pandey
OP
Realtor · Erie · Member since 2022 · 194 posts · 88 votes
3y
Quote from @Michael K Gallagher:

Quote from @Brandon Elliott-Pandey:

If you could start all over and do it again... What would you DO?

Would you have done Differently?
Would you have invested in a different RE class, to go slower or faster?

What have you built so far and knowing what you know now how would you have done things differently?

I would have not gone down the "manufacturing" road and industrial road that I went down early in my engineering career and would have instead gone into technical sales. I had a mental block around "needing to suffer" to earn my money, and the manual labor and long hours of manufacturing gave that to me. But I was salary, no matter how much I worked I made the same amount, its taken almost 3 years of not being in corporate America to unlearn (and I still battle them every day) the BS ideals they preach there, and I'm certain if I had gotten into a sales roll from the beginning I could have used that combined with my work ethic to bank way more cash by the time 2017-2018 rolled around to start investing.

Yea man, the 9-5 mindset is VERY hard to shake. But once the mind has expanded to new ways of thinking. It can never go back to it's original size or way of thought.

Wishing you the best man and keep on grinding!
2 Reply
Brandon Elliott-Pandey
OP
Realtor · Erie · Member since 2022 · 194 posts · 88 votes
3y
Quote from @William Collins:

I had looked at doing a house hack duplex in my hometown rather than buying a single family house at the time I could not convince my wife. If I could go back in the rewind machine I probably would have bought that house which would have started me down the path on real estate five years earlier.

I hear ya! Sounds like you still got in the game so that's a HUGE plus... And I've recently gotten my partner to join the "dark side" or investing in RE. I'm extremely excited for us to invest in our first place together! Having a partner on the same page is challenging. But when it happens it so worth the struggle/ wait.

Wishing you the best in your future RE purchases!
0 Reply
Brandon Elliott-Pandey
OP
Realtor · Erie · Member since 2022 · 194 posts · 88 votes
3y
Quote from @Alena Beecher-Ritchie:

Would have kept all the homes I have sold and BRRR them. I would have been so much further along financially.

How many houses have you sold at this point?
0 Reply
Brandon Elliott-Pandey
OP
Realtor · Erie · Member since 2022 · 194 posts · 88 votes
3y
Quote from @Yael Lederman:

Read less, network more! Nothing beats relationships and putting learnings into practice. You learn by doing.

True! Thanks for sharing your thoughts with us! :-)
0 Reply
Bob S.
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
3y
Quote from @Brandon Elliott-Pandey:

Quote from @Bob S.:

Quote from @Brandon Elliott-Pandey:

If you could start all over and do it again... What would you DO?

Would you have done Differently?
Would you have invested in a different RE class, to go slower or faster?

What have you built so far and knowing what you know now how would you have done things differently?

KEEP about 50 of the 500 I flipped in my market, HUGE mistake,

Why would you keep 50? For cash flow purposes?
Yes it would have been about 35k a month NET income and the properties tripled in pricing to about 5.4 MILL, did I mention it was a HUGE mistake,
3 Reply
Brandon Elliott-Pandey
OP
Realtor · Erie · Member since 2022 · 194 posts · 88 votes
3y
Quote from @Tommy Parker:

I was slightly more fearful. I had analysis paralysis, and instead of understanding that everyone in real estate is different, I tried to box myself into what others did. I would definitely have house hacked right out of high school!

Wow, well said Tommy! Kudos to you though for seeing that and learning from it!
0 Reply
Joe S.Pro Member
Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
3y
1. I would have kept more properties for Rentals instead of selling them.
2, a couple of properties I should have not purchased.
3. I wished I would have realized that lenders would have given me loans sooner. I assumed that lenders went off of your tax returns and limited myself to creative finance. Since I found out lenders did like me, I was able to keep more as rentals before the interest-rate shut up recently.
0 Reply
John B.
Investor · Keller, TX · Member since 2019 · 76 posts · 62 votes
3y
Quote from @Bob S.:

Quote from @Brandon Elliott-Pandey:

Quote from @Bob S.:

Quote from @Brandon Elliott-Pandey:

If you could start all over and do it again... What would you DO?

Would you have done Differently?
Would you have invested in a different RE class, to go slower or faster?

What have you built so far and knowing what you know now how would you have done things differently?

KEEP about 50 of the 500 I flipped in my market, HUGE mistake,

Why would you keep 50? For cash flow purposes?
Yes it would have been about 35k a month NET income and the properties tripled in pricing to about 5.4 MILL, did I mention it was a HUGE mistake,

Bob, Ive seen many of your posts. I need to learn from someone like you. 500 flips! Thats crazy
0 Reply
Bob S.
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
3y
Quote from @John B.:

Quote from @Bob S.:

Quote from @Brandon Elliott-Pandey:

Quote from @Bob S.:

Quote from @Brandon Elliott-Pandey:

If you could start all over and do it again... What would you DO?

Would you have done Differently?
Would you have invested in a different RE class, to go slower or faster?

What have you built so far and knowing what you know now how would you have done things differently?

KEEP about 50 of the 500 I flipped in my market, HUGE mistake,

Why would you keep 50? For cash flow purposes?
Yes it would have been about 35k a month NET income and the properties tripled in pricing to about 5.4 MILL, did I mention it was a HUGE mistake,

Bob, Ive seen many of your posts. I need to learn from someone like you. 500 flips! Thats crazy

Well I used to have unlimited buyers from Israel that wanted rentals. They bought about 250 in less then 3 years. then from there is snowballed. They key is finding cash buyers, deals are everywhere,
All the best.
0 Reply
Kerry Noble JrPro Member
Investor · Indianapolis, IN · Member since 2018 · 2k+ posts · 1k+ votes
3y
I would have househacked before I had kids
1 Reply

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