All Forum Posts by: Joe Abramovich

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!!

1 Vote

Cleveland, Ohio

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!

1 Vote

Cleveland, Ohio

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?

Andrew so happy you reached out! I agree that CoC has a huge impact on analyzing deals. I will have to listen to some more of Warren Buffet. Thank you for your insight!

0 Votes

Cleveland, Ohio

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

2 Votes

Cleveland, Ohio

Josh, Thanks for this I needed it. I'm going to start carrying some quarters with me to my deals :) ! Best wishes

1 Vote

Cleveland, Ohio

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

0 Votes

Cleveland, Ohio

@Mark McGuire Welcome to Bigger Pockets, Happy investing and if you ever need an agent or bounce ideas I'd love to connect!

1 Vote

Cleveland, Ohio

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!

2 Votes

Cleveland, Ohio

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!

2 Votes

Cleveland, Ohio

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

Post: How do you determine what makes a deal a good one?

Post: How do you determine what makes a deal a good one?

Post: How do you determine what makes a deal a good one?

Post: How do you determine what makes a deal a good one?

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