All Forum Posts by: Joe Abramovich
Joe Abramovich has started 2 posts and replied 13 times.
Post: New to cleveland, looking for first house hack deal
- Realtor
- Youngstown, OH
- Posts 13
- Votes 12
Louie, wow way to make the jump! it sounds like you know everything you need to know, and your first deal will be great when it comes.
I'm not sure of any meet-up events in the cleveland area but if you hear let me know always looking to learn and network!
Best of luck,
Joe
Post: How do you determine what makes a deal a good one?
- Realtor
- Youngstown, OH
- Posts 13
- Votes 12
Quote from @Jaron Walling:
I agree with @Joe Villeneuve.
In the book the Psychology of Money they define the cost of success. "Nothing worthwhile is free. Most financial costs don't have visible price tags. Uncertainty, doubt, and regret are common costs in the financial world. They're often worth paying. You have to view them as fees (a price worth paying to get something nice in exchange, rather than fines (a penalty you should avoid)." I think that quote relates to REI. You need to know the costs before you buy, flip, or manage rental properties.
Jaron thank you for your feedback from Joe. I agree with both of you that if we shift our focus and allow ourselves to trust our skills it really is as simple as it sounds. Make a mistake it will pay you ten fold in the future! Thanks again!!
Post: How do you determine what makes a deal a good one?
- Realtor
- Youngstown, OH
- Posts 13
- Votes 12
Quote from @Joe Villeneuve:
There are 2 things that make a deal:
1 - The minimal cost to the REI. The cost, and the ONLOY cost, to a REI is all the cash (only) they put into the deal.
2 - The terms. The terms are defined by "How someone, or something else, pays for the rest".
It's just that simple. Everything else is either just decoration, rationalization (very expensive), or the means to execute numbers 1 and 2 above.
Joe, Firstly great name! More importantly I love how you have made the analyzing process cut and dry for yourself this allows much more time hunting for the deals! Thank you for the insight!
Post: How do you determine what makes a deal a good one?
- Realtor
- Youngstown, OH
- Posts 13
- Votes 12
Quote from @Andrew Freed:
Cash on Cash return. That is my biggest measure of success. What is the yield on the money that I put into a deal? That is how Warren Buffet evaluates businesses. It's future expected cash outlays over a period of time, e.g. Net Present Value (NPV). If the best investor in the world measures an investment based on how much cash it splits out over a period of time, who am I to question if it works or not?
Post: How do you determine what makes a deal a good one?
- Realtor
- Youngstown, OH
- Posts 13
- Votes 12
GM BP Fam, I'd love to hear some insight on what your key indicators are for evaluating a deal(s)? What is the deal breaker?
Hope Everyone has a great Wednesday!
- Joe
Post: A Surprising Way to Make Better Decisions
- Realtor
- Youngstown, OH
- Posts 13
- Votes 12
Josh, Thanks for this I needed it. I'm going to start carrying some quarters with me to my deals :) ! Best wishes
Post: New Investor Intro
- Realtor
- Youngstown, OH
- Posts 13
- Votes 12
Trevor, Welcome to BP Family man! if you are ever interested in the Youngstown area I am an agent.if you'd like to connect with me I'd love to chat investing! Best wishes
Post: New to investing
- Realtor
- Youngstown, OH
- Posts 13
- Votes 12
@Mark McGuire Welcome to Bigger Pockets, Happy investing and if you ever need an agent or bounce ideas I'd love to connect!
Post: Networking Opportunities in the Cleveland Area
- Realtor
- Youngstown, OH
- Posts 13
- Votes 12
Hey Sam! I just joined BP to after listening for a couple years! I am a 22 year old Realtor in Youngstown Ohio and am interested in serving investors, I'd love to connect - Best of Luck!
Post: What are investors looking for in real estate agent?
- Realtor
- Youngstown, OH
- Posts 13
- Votes 12
Martin, Thanks for the response. I love what you said about knowing the market, as intimately as you do accurately - this could be a great advantage to investor agents!