[Watching The World Burn]

Originally Posted by DETRoadster

Nope, didn't miss it. Just wonder why you continue to argue every point, even those of profession contractors, if you've already resigned yourself to being too late. Seems you just like to argue.

Anyway, best of luck with a 6 to 8 month flip. You seem to be comparing yourself with professional contractors. You have no license, no experience, no subs, no contacts with the city building department, no architect, etc. You're going to line all these folks up, sit back, and let the money flow in, eh? All in 6 to 8 months. Best of luck. Keep us posted on your flip.

Experiential learning is some of the best learning there is. Why are you interfering with someone desiring to better educate themselves? For shame!

[S1nner]

My philosophy about doing a business is to invest in something I understand and can do without relying on someone.
Can I do car repair professionally on my own? No! Then I wouldn't open a shop.

[G35POPPEDMYCHERRY]

Originally Posted by Kolyan2k

Asking for opinions and thoughts. Obviously not buying anything based on forum. I would definitely buy few more condos if real estate prices crash

eh, knowledge is power. lots of smart folks on bimmerpost.

I am just against this notion of people somehow so invested in stock markets and real estate and have no idea what they are getting themselves into. but hey AMERIKA

[Kolyan2k]

Originally Posted by S1nner

My philosophy about doing a business is to invest in something I understand and can do without relying on someone.
Can I do car repair professionally on my own? No! Then I wouldn't open a shop.

I do have many contractor friends, they always give me their builders, painters etc. Just had spray foam insulation guy do my house. I also do wiring myself, and do many jobs for contractors too. That said I have never build a house or done a complete demo unfortunately. Wanted to since like college days, looked at lands, properties....but it never happened. And nowadays this knowledge is like gold lol

[chassis]

@kolyan2k

What is your business plan for this? How well are you capitalized? How much and what type of financing instruments do you plan to use?

[Kolyan2k]

Originally Posted by chassis

@kolyan2k

What is your business plan for this? How well are you capitalized? How much and what type of financing instruments do you plan to use?

I am not planning to do anything.....if I was doing this, probably cash + equity loan, then construction loan to build. Depending on the price, maybe equity loan would be enough for entire project

[P1]

Originally Posted by Kolyan2k

I am not planning to do anything.....if I was doing this, probably cash + equity loan, then construction loan to build. Depending on the price, maybe equity loan would be enough for entire project

Why wouldn't you do it? I mean, look at the numbers your buddy is showing you. It's almost foolish not to with all those massive profits!

Keep us posted, yeah?

[billnchristy]

I'd wait 2-3 years when there are a ton of foreclosures and you can get 300k houses for 60k, put 20k in and maybe throw a renter in there until the market improves.

It's a viscous cycle, rates go up, people bail, nobody can buy anything, rates go down, prices rise. Rinse repeat.

Become a slumdog millionaire and then bank when it turns around.

[Kolyan2k]

Originally Posted by P1

Why wouldn't you do it? I mean, look at the numbers your buddy is showing you. It's almost foolish not to with all those massive profits!

Keep us posted, yeah?

Because right now is probably the worst possible timing, obviously

[Kolyan2k]

Originally Posted by billnchristy

I'd wait 2-3 years when there are a ton of foreclosures and you can get 300k houses for 60k, put 20k in and maybe throw a renter in there until the market improves.

It's a viscous cycle, rates go up, people bail, nobody can buy anything, rates go down, prices rise. Rinse repeat.

Become a slumdog millionaire and then bank when it turns around.

I doubt real estate here will drop that much. My personal uneducated guess is that market will return to pre covid levels

[RickFLM4]

Originally Posted by Kolyan2k

I doubt real estate here will drop that much. My personal uneducated guess is that market will return to pre covid levels

That would be a huge drop. I don’t think they go down that much unless there is mass unemployment all of a sudden.