All Forum Posts by: David Goossens

I'm an Electrician here in the Bay Area. The pay is very good and it allows me the opportunity to save quickly for my next rental property. The career path that I am on has potential to scale income through Project Management positions that are both salary and performance based. It also gives me tremendous confidence in estimating construction costs for rehabs, and a deep network of skilled tradesmen to draw from when I do a project. While I do not want to stay in construction for more than 10 years, the income, network and flexibility is an essential part of my wealth building plan. I would encourage young people to look into skilled trades as a career. You develop practical skills that are in high demand, which allows for many different opportunities, especially in REI.

Man, so much criticism towards @Scott Trench... The fact is, he had a plan and a budget and stuck with it, even when it was hard or inconvenient. His investment strategy is a textbook example of the BRRRR method, using FHA loans. These loans are specifically designed for 'average' people to buy real estate. Use this article as something to aspire to.

@Jay J.- Even if Scott didn't have generous parents, but instead had $25k in student loans, that would have delayed him 1 year. He saved $20k his first year on a $50k/year salary.  Its doubtful that Scott would let some student loans stand in his way. In fact, he probably would have figured out how to go to college without accruing any debt.

Once you shift your mindset, REI becomes much more feasible.

Drive through the area at night and see whats going on. If you don't feel safe getting out of your car, then its probably best to move onto something else. I've also heard investors say that they will pass on a property if they are uncomfortable with their wife/significant other going there alone.

Interesting idea. Is this something that you have already done, or are you thinking about trying this? 

@Christopher Greci, I'm not sure where you work or how far you are willing to commute, but I have a friend who was in a similar situation. He bought a nice used RV and parked it at Thousand Trails RV Park in Morgan Hill. His monthly rent was very inexpensive and he had full hookups for all his utilities (electricity, water, sewage). He was able to save quite a bit of money in a year and a half, and then he moved somewhere else. Just food for thought.

you could paint them and add new pulls and hinges. It's a lot of work but if done right, can change the entire look of the kitchen. 

The Book on Investing in Real Estate With No and Low Money Down by Brandon Turner.

I've found them to be pretty close to 65w halogens. They also dim pretty well, but you will need to get a newer LED compatible dimmer. They run around $20-$30. But like you said, buy and install a new trim along side your old lights to make the comparison. There are tons of different brands to try. Also, you don't need to wait to do your insulation. The LED retrofit can be done anytime.

These are the ones I typically use. They have  a gasket that seals between the trim and the drywall to prevent air leaks. I have also heard of people using caulking to seal around the fixture to help with drafts also. If you really want to get crazy, you could build drywall boxes to go over each fixture in the attic to prevent air leaks and drafts. But if you are looking for cheap and easy, the link below is as easy as it gets. 

http://m.homedepot.com/p/Commercial-Electric-5-in-and-6-in-White-Recessed-LED-Trim-with-2700K-90-CRI-CER6730MWH27/206950542

It depends if you are wanting to swap the entire recessed light fixture. That will be a lot of work. If you want to keep the old recessed fixture, then get the air tight LED trims. I get them from Homedepot for $11 each, and they have a gasket that seals everything. There is also a light socket adapter that comes with the Trim. You screw it in like a normal bulb, and then the connector plugs into the led light. Overall it's a super basic procedure that will take a minute or two per fixture.