All Forum Posts by: Account Closed

Laura DelGuidice Thanks! I am a contractor that only works with investors in New Jersey so I have done properties from the stubs and other just cosmetic. I have another round of jobs starting soon in North Jersey at the end of April. They range from easy to extensive. I personally do some flips as well.

Hey Everyone,

How many times have you run into something in this industry that has slowed you down, confused you, made you doubt yourself, made you hesitant to move forward, or just made you wonder why you should continue. Getting into Real Estate Investing always starts the same way with the excitement and drive and hefty goals .Then you start getting into the daily grind and you get discouraged, frustrated, and realize its not as great as it seems. You analyze 100's of properties, call hundreds of contractors, do hundreds of phone calls, and realize how much money you need to get started and keep moving.  It can all be overwhelming, debilitating, and in general demoralizing. It is all time consuming and difficult to get past BUT here are some suggestions on how to get past the daily grind until you get to that golden world of passive income. 

 First you want to have a clear vision of what you are doing this for. Is it for your family? Is it for yourself? Is it to retire early? Figure out your driving force because it is extremely important. It will keep you moving forward through the hard, tedious times and make sure you stay on track. Put it on a poster board and have it in front of you when you work so you don't forget it.

Next keep track of your daily activity this way you can see things getting completed. It keeps a record that your making progress that you can refer back to when you feel like you are not moving forward. This also helps you see what efforts are getting you somewhere and what isn't. At the end of the month look back and see where your best results came from. An example would be where did you get your properties from, the MLS or did you get the from a wholesaler. You don't want to waste your time so having this simple method will help prevent unneeded aggravation and put your time where it is getting you the best results.

Another Idea is to make sure you take time off. It seems counter productive but it is actually one of the most important things you can do. Clearing your brain and not thinking about business helps you be more focused for the times you do work. The more you can be focused on what your doing the more you will get done each time you work. So setting time off each week and turning off your phone at night are simple ways to help with this. 

What are some ways you have kept yourself moving forward and staying focused in a very distracting industry?

Hey Julian Pilate-Hutcherson I am a contractor / Project Manager from New Jersey who works with some out of state investors. I think the key thing is having a good team to start with. A good real estate agent who can find you the deals and take pictures that show you what you’re buying from the beginning, and the contractor that has a very detailed scope of work bid that shows you each line item that needs to get done. This way you can get a really good handle on the job at hand. I start off by asking the investor their style and preferences when it comes to flipping or renting a property. How far do they rent of eight for each swapping out the chemicals or just fixing, granite versus laminate, hardwood versus tile, etc. etc. After that I schedule a time to go to the property with either the agent or just go myself, and Following the scope of work the investor gave me or going off what we discussed I write up a bid on the work to be done. I get as detailed as I can pricing out each line item, Making sure I check for things that would make an investment go wrong, oil tanks, septic, structural issues, etc. after that I do a call with the investor going over the property and what things need to get done and what the costs are. After we agree on a number and the job starts I do frequent walkthroughs and take pictures as work is complete. A good thing for the investor to do is to have their agent walkthrough too and take pictures so They have a third-party see it. The overall thing you need to establish is good communication and to be very clear about what needs to get done. Also have as many checks and balances as you can. Let me know any other questions you have and I look forward to others answers as well

Thanks Stefano Grottoli !

Hey Chris Harper Getting contractors to go out is hard because there is so much work they are looking for things that are guaranteed, already purchased properties. I specialize working with investors so I’m willing to come out before the property is purchased because I’m looking to build relationships and most investors starting out need that to help with their bids. Referrals is a good way to get over that hurdle! [Solicitation Removed by Moderators]

Hey Tycee Tyler Glad your taking the jump. I work a lot in South Jersey. Would love to connect. Shoot me a message. Talk soon,

Hey Peter T. What are some examples of things you have ran into? Could you give some number?

Hey @Will Barnard

Thanks for the input. how would you say having a mixture of some on staff subs and some freelance works compared to some guys who have everyone on staff? Would you say there would need to be more volume?

Hi @Shannon S.,

That is a good go between. I have actually heard of one or two investors doing it this way. Another version that some High producers will do is have Full time sub contractors on the payroll. Because they have so much work they save a lot of money. But they also have to keep that volume going to sustain the model. 

Hi @Doug W.

Thanks for the insight. For me my family time was important to me as well and thats one of the reasons I use a GC too. How long have you been investing?