I’m a recent college grad realizing how moronic and time wasting traditional 9-5s are. I want to start buying houses and flipping/landlording some time in the next 5 years and need advice on what jobs I should work at in the meantime to minimize the projects I would need to outsource in the future. I worked for half a year as a handyman at an apartment complex up until a few weeks ago to get the basics of maintenance(watched youtube videos before applying and lied about my experience level). I didn’t get much exposure to larger scale projects like drywall installation, tiling, flooring, carpet installation. I want to find some job that would give me exposure to some or all of these as I’m basically clueless about any larger scale residential projects. Any advice on jobs or anecdotes on how you’ve become a jack of all trades is appreciated.
If you don't already have a nice sized fund to take advantage of the "dip" that's coming, no amount of technical knowledge is going to help. You're about to get swept.
My dad wants to invest, agreed to front me for some down payments in a few years. I’ll also have 40k or so in the bank a year from now.
40k isn't a lot of money.
It isn’t a lot, but initially I’m not going to be dealing with massive expenditures anyway. Ideally just materials and minimal labor, hence the thread.
flooring, tiling, etc is moron mexican work that you can learn off of youtube, no need to get any "professional" guidance. you should look at things like plumbing, HVAC, electric - the systems that cost tens of thousands to install and maintain
If you're really serious about doing it long term, the best skills you could develop are on the business side of the equation; knowing the ins and outs of locating, buying and selling, financing, etc. for the flipping part and understanding property management and the legal procedures and obligations involved as a landlord.
Consider that all of that stuff is still in play no matter how skilled you are at construction and rehabilitation, and the people who do it if you can't get paid well. Also, if you aren't a realtor or at least equally skilled and connected, your chances of finding properties to rehab at low enough prices to not be a crap shoot will be seriously impeded....realtors snap the *real* deals up to flip themselves, or pass them on to their colleagues for a finders fee.
Unless you can buy in for a very small fraction of what a rehabbed property can be flipped for, you risk simply buying yourself a job as a remodeling grunt...along with assuming all the risk when unforseen problems arise.
Whether it's flipping or property management, the agents and lawyers and paper pushers all cost money whether your business is good or bad; the more of that that you don't need to farm out the better, both for your pocketbook and your peace of mind.
I was considering getting in to property management for a few years, but from my experience working under them, I didn’t get the impression that I would gain any more knowledge of the process than I could in a few weeks of studying it. I was working for a large corporation, so maybe a smaller business would expose a property manager to more tiers of the process?
Maybe I am mistaken, but I had the impression that something like a 50k renovation(something 2 skilled guys could do in a few weeks) would outweigh most legal fees excluding catastrophe.
this anon is correct, ive been screwed by agents selling property out from under me to "friends and family" the flippers making actual money are doing it buy buying below market price, fixing up the basics/cosmetic stuff to normie levels and moving it on via that same network of agents.
the projects you see for sale half finished are the handyman *dream home* type ads, ya those are the ones without the network and corruption on their side who bought a fricked up house at okish prices and either ran out of money, financing fell through or something major went wrong with the rehab (indicative by all walls are stripped down to the studs instead of just the old tiles/kitchen cabinets and new hvac profitable flippers do...
pic unrelated
have a nice day parasite
This. People should see houses as a thing to live in, not another investment. I am lucky enough to have bought a house before shit got crazy around 2016, but it is fricked up how a tiny shithole like mine, which should be a starter home, requires someone making six figures to afford if they bought it now.
>People should see houses as a thing to live in, not another investment.
>People should see food as something to eat, not something to sell
>People should see cars as something to ride in, not something to buy, sell, and trade
You're a fricking moron. Go back to redddit
All of those things are true. You are in no position to call anyone a moron.
Using that "logic", every single person whose "real job" contributes in any way to the cost of housing, food or transportation is a "parasite".
I think the subtext is that using money is inherently wrong and we should just live in a socialist utopia instead. I'd like to reiterate: go back to reddditt
The subtext is that things are what they are, not financial instruments. Seeing the world the latter way is for j*ws and their circumcised cattle.
We live in a israelite’s game. Maybe being a hobo/neet is virtuous in some sense, but at the end of the day your decisions are already accounted for. If you can get the most out of the machine possible for what you put in, I see no good reason not to.
Houses are much more inelastic than the other two goods.
>You're a fricking moron
Pot, I see you've already met Kettle.
>wanting to directly contribute to the absolute clusterfrick of a property market we're having
Frick you Black person get a real job
Get a real job instead you fricking parasite
I rent property for side income, have done lending and a few flips too . My experience is that flipping SFH is a low income, high risk endeavor and the people that often make the most money on the flips are the hard money lenders. Once I sell this last home, I'll be done with flipping and just do rentals and lending. The only exception I can think of is the people that do larger multifamily "repositioning" where you get investors to help you purchase an apartment complex, you fix it up, get rid of non-paying tenants, get higher income tenants and then sell it. Certainly a lot of work but at least you're getting paid a little better.
>cow tools
I don't get it.
theres nothing to get, it's an AI generated image and op should kys himself for posting it and the rest of his drivel.
>Calling a literal Far Side comic an AI generated image.
jesus fricking christ, get your brain checked kid.
https://imgur.com/a/BMEzQMH
God you're so fricking dumb
>~`~`~`~`~`~ItS aI GeNeRaTeD~`~`~`~`~`~
>Any advice on jobs or anecdotes on how you’ve become a jack of all trades is appreciated.
you're going to fail
find a goyjob and get to wageslaving
>watched youtube videos before applying and lied about my experience level
you need to learn how to actually work above board
here's what you do:
>get realtor's license so you're not wasting a frickton of money on every purchase or sale
>set up an LLC or an s-corp to insulate yourself from liability
that's the extent of the mildly easy stuff, now you need to:
>network and find a licensed plumber, electrician, and inspector that are willing to do work for you
>get a legitimately good israelite who knows how to lawyer
>start doing actual work
the days of being able to do shitty low-effort Home Depot renos and get 300% value back are over, people are not paying an extra $100k for terrible $0.90 tile jobs and a fresh paint coat anymore
you will absolutely not be able to do some work yourself because you put yourself at tremendous legal and financial risk if it's not up to code.
90% of the time doing it as an individual, you're going to get fricked backwards by running out of money on a shitty cosmetic rebuild and end up eating the loss
Ok, as an individual, you have a few small benefits you can leverage that may actually make you successful.
You don't have anywhere near the cash, contacts, or experience to do the hard money cash buyer rehabs.
You DO (hopefully) have good credit, and being an owner-occupant qualifies you for some options that the professional flippers can't access. It means that you'll be stuck having wherever as your official home for at least a year, you won't be able to flip a house every 3 months.
HUD sells houses that were foreclosed on with FHA loans, and has a period where they will only look at owner-occupant offers.
You're going to want to find a mortgage broker that will do manual underwriting, and give you a decent deal.
You want a home with a TON of small problems that disqualify it from FHA financing, but you can get done.
Stupid stuff like "oven not working", "missing railing", "porch/stair railings are more than 4 inches apart, which is a hazard for small children getting stuck."
Drywall, carpet, tiling are easy to learn to do acceptably well.
Avoid foundation problems. Damp basements are expensive to fix. Plumbing is fine if it's a broken toilet or shower, but avoid anything with flood damage from inside a wall.
Electrical, bring a $10 outlet tester with you when you go look at houses. Avoid anything that still has an old fusebox. If you can, take a look at the wires on the fusebox, and see if you can see the manufacturing date on the insulation.
#1 suggestion is if you're looking to landlord, look at house hacking. Get a bigger property, ideally duplexed, triplexed, or quadplexed, and once you have it fixed up a little find tenants to live there with you. I recommend you let them know you have a discount on rent for handling all the repairs and maintenance for the owner, so if they have questions you can ask, it puts you in a less adversarial relationship.
I looked at it in college, but the counties I was looking at living in had stupid zoning laws.
cont.
They had a county-wide regulation of no more than 2 people living at an address unless they were related. Generally not enforced, but not worth the risk to me.
Oh, and you'll still need a job for income.
House flipping/landlording is going to be a long term investment. Most of your profit is going to be going to mortgage principal, you're not going to see that until you sell it. So you can only expect a few hundred a month cash flow from a property. AND you should budget up to 1% of property price/yr to an account for repairs and maintenance.
Like $300/mo cash flow is going to be pretty solid, after you budget for repairs and an escrow for changing tenants (you put like $200/mo in an account to cover expenses for the 1-2 months between tenants when one moves out after a year or two, along with the painting and new carpet)
Trying to buy a property that is super cheap and planning to rent it high so you can just bank $3k a month, is how you get suckered into just stupid stupid deals.
I didn’t know the owner-occupant benefits applied to triplex/quadplex properties that’s a game changer.
>Oh, and you'll still need a job for income.
Yeah I’m not expecting much out of it other than equity to cash out on far down the road. Fully ready to wageslave for a while if my current business fails.
Super helpful stuff thanks for the advice.
Flippers are cancer, ruining historic farmhouses by adding monochrome modern interiors
have a nice day
College is designed to mold you to a 9-5 b***h.
You must understand you know nothing but how to sit in a chair and regurgitate answers.
Houses should be on sale in 1-3 years. Until then, get a b***h job for a flipper and learn the process.
Not grout and landscaping, but loans, desirable markets, and get some cash. Get some contacts who do cheap work.
College doesn’t even do that much. It is 4 year summer camp in most cases outside of stem. I got lucky and the last half for me was during covid where every test was online and classes took 1/10 the effort by being online. I did freelance landscaping and moving the whole time and looking back on it that was way more of my life than the school thing. I just have a credential that I bought now and that’s the only way I look at it.
Same. A horribly overpriced piece of paper you can't sell, only leverage. Proof you spent 4 years in a govt detainment system, yet somehow this makes you 'smart' as opposed to prison.
It's all a scam, as is the housing market.
Depending on your area, land records are public data. You can scroll through that, find a few big landlords, and then try to get a b***h job in their offices. Pick their brains for a few years and you'll know more than any govt babysitting prison could teach.
>noooo I don't have any real skills that people need don't make it harder for me to beg to have a place to live
Seethe rent cucks
OP is the one who doesn't have any real skills (fitting for a would-be flipper), you'd know if you would've read the post
>treated the thread like his rental contract and only read the first few lines
First is almost here renty. Better have my check.
I own my home but sure whatever moron
You sound like you're le epic redpilled mom's basement dweller and coping by lashing out at renters.
Tick tick tick
No commie bux this go round
Get a real job
All landlords should hang
based
cringe
*looks around and sighs* Obviously you cannot be referring to me because I am based.
Xir, you cannot receive updoots on this website. This is PrepHole.
*scoffs* It's impressive how confidently you display your ignorance. If you would but look up at your address bar you'd see that this is not PrepHole, it's PrepHole.