REAL ESTATE THREAD

If you can get reliable contractors it's worth it.

Unfortunately ALL (yes, ALL) contractors lack common sense, intelligence, and skills to complete any task at hand.

These projects are profitable IF AND ONLY IF you have the skills to renovate.

Seriously though, contractors will want to charge the salary worth that of a rocket scientist with a PHD from MIT. I really hate those people, they truly are a cancer and worthless pieces of shit. Assume all stereotypes are true about these people.

This isn't something as easy as you think it is. You run into more problems gutting a house that makes the project ten fold more expensive, then compound that with your uneducated toothless dropout heroin addict as a contractor who want $70/hr to fix a problem he should have forseen earlier. Maybe more houses will collapse on these people.

>>2508015
Yeah I was worried about that. I'm only just starting out, so I'm thinking of networking with other REIs and potentially finding contractors through them. That way they're already vetted rather than my inexperienced ass trying to figure out who is good.

property repairs is only good if u get a good deal on the property value , own your own contractor to fix it with cheap supplies and resell .

>>2509300
It might be great if it only needs some slight cosmetic changes and fixes. Sometimes a little makes a huge difference. Obviously a falling apart shithole would be a pain in the ass to fix

>>2509346 example , found a place cost about 45k needs about 5-15k of repairs at a pristine condition place can go for 65 , but im risking 50k on it , then there is real easte feees, taxes low ballers ... so far real estate has been a hassle for me ,
i domt know , i remember the hassle to sell my grandpas place i cant imagine doing this full time i think there are better more secure investments