All Forum Posts by: Tim Ryan

let me know if you have a project in the Pasadena area someday.

The business concept of the Iron Triangle is this:  In any project, you can prioritize only two of the three key constraints: speed (time), price (cost), and quality.

I'll never forget from my younger GC days meeting with flippers and thinking they'd be a great source of work for my company, and one after another them yelling at me (at bid stage) that I Must be super fast, low or mid cost, and top quality.  And here was the kicker: because they said they need to make money on this deal.

Needless to say I've never worked for a flipper unless I was a partner - and I've done many of those.

So, since making money is always the most important, and time is money, this is why we see so many crappy "flipper homes". White walls with black windows, black plumbing hardware, black door and cabinet knobs, vinyl flooring (in homes valued over $1m), unfinished areas during open house...  

Sorry I'm being so cynical.  You triggered me. lol ;)

Have you done any coaching programs? Real estate investing education?  Saving the money is a small part of all of this.  Once you have the funds, how will you know what to do?  My advice is to learn, learn, learn first.  Once you really learn about how this works, you'll realize the money is the least important.

She paid her dues for 20+ years.  I would not reject for this purpose. Could be a great opportunity to help someone get back on their feet.  My dad taught me this while growing up, he rented to and hired many felons. We never had any issues. He taught me about forgiveness and love. My 2 cents.

Hmm. Good question. This one could go either way. With the info we have here I think it might be good to do the refi. You are doing nothing with the equity now. As long as you don't go negative. Break-even is good with me knowing you'll have new funds (non taxed by the way) to work with on the other condo and get a new deal with VA. I think I'm leaning to go for it. Now this is risky to say - but it's likely that interest rates will go lower some time in the future. The point is, if you can break even now with high rates, imagine another future refi to lower rates and making positive cash flow again.

Number one at your age is learning. You might want to look into a coaching program you can do with/alongside your parents (not sure how much real estate investing experience they have).  Here's what's next: find a deal. You won't have to have money or credit. You can either wholesale the deal or find partners with the money and credit.  Don't be concerned about your equity % in the beginning. Just get a couple of deals. Once you do, you'll see the world will open up to you.

Hi Thea,  I am also in Los Angeles and I develop/flip properties in LA and only buy and hold out of state. I have a real estate meetup group on the Pasadena area. DM and I'll send the details. Either way since we are local we should connect and share ideas. I've done a lot of investing so I might have some stories for you.

Who's the contractor?  Why Dallas?  So many questions.  I actually have the answer to this.  The key is to focus on one market and go there often. Meet people who will help you with your investments. Get referrals to contractors by trusted new friends. Only way to do this is to get involved in the market.  Making calls from out of state won't do it.  I can say a lot more about this if you are interested but I think I'll keep it short here.

Hey Jv,

I'm also in Los Angeles. Let's connect as I could lead you in the right direction and possibly even offer mentoring. DM me and let's find the time to discuss further.

Good plan to get into real estate investing!

Hi Chebeli,  I'm a Pasadena area GC and been investing in real estate since 2008.  Since we are local to each other we should connect. So much I can tell you about RE investing both in SoCal (mostly flip and development) and out of state (rentals). I'll send you a connection request.