- Joined
- May 8, 2019
- Messages
- 51
Don’t disagree just because of what is said in a book. Disagree because you have experienced things differently.
Really try to listen to what is said on this forum and the advice given. When it is said to invest close to home, keep a close eye on things and manage the property yourself, really take that to heart, as you are a beginning investor. The lessons learned will be very valuable and will make or break in how successful you will be in the RE investing game.
Furthermore, not sure how old the book is you are reading, but proffesional prop management runs at a minimum of 10%, but realistically at years end, including all the upcharges, showing fees, move in and out inspection fees etc, you will find its more like 15%. Everyone wants to take a piece of your cake, and preferably as large of a piece as possible.
Anyone that’s has been succefull in any kind of business came up with an idea, worked their business, learn through trial and error, improve and make bizz more profitable and eventually build a good life for themselves. Thats how it is in the RE game.
One other thing I would like to point out, it seems you want to become a real estate investor first and foremost, (correct me if I wrong) but you will find most investors on this forum started elsewhere, making money in bizz, or having very good jobs with good pay, or people that are and have been very good with their own financial resources. From there on they moved into real estate and to find an in general safe way to park their hard earned money.
I understand the life style you are leading on Bali can be very intoxicating, lots of sunshine and time to read books at the pool with a cocktail on the side, everything looks good (easy) when the sun shines, but can you also weather the storm when the thunder rolls in?
Keep asking the question, don’t over analyze, take practical advice to heart, work hard in your everyday life and move forward with purchasing your first prop. cheers!
Thank you Martin1968 for your advices I took good notes of it!