Real Estate  – starting to do further research

I have always been interested in real estate, and real estate investing. I’ve got a ton of books on houses, remodeling, layouts, etc. As an engineer, I have been fascinated by calculating costs (and remodeling costs), drawing things up, and imagining how it could be built or altered.

I’ve “puttered” some around my house, built a deck (twice), did a bathroom remodel and a kitchen remodel, and also did some work with Habitat for Humanity. Still, I have the “bug” and have it bad. Plenty of time spent online and YouTube looking at videos and shows. Probably could have used the time more productively.

Unfortunately, the one chance I’ve had in my life to really do a remodel, back in 2006, was when we added a second story to our house (made our rancher a cape cod). We worked with an architect, hired a builder, set up our funding, and got everything ready. Then my job came to me and asked me to do them a big favor, and help run a warehouse out in KY for 3-4 months because it was having trouble. I did it, coming back every 2-3 weeks for the weekend. I got to see the work in increments, instead of being able to “live it” every day. I still regret this – but I was a dedicated employee, working for a good company. Ah well.

Now we are closing in on financial independence, and we have a sufficient amount of funds to the side that I could consider getting involved in real estate. However, as an engineer, I now have to start digging into the numbers again, and do my reading and research. I know, I’m boring at times, but I am a planner, so that is the way it goes.

Luckily for me, there is a local real estate club in my area, one that meets regularly and has spin off groups for each county in my state, and for new investors. I took the opportunity to attend their monthly main event at a local hotel last night, and see what they had to offer. They let you attend the first one for free, but then charge non-members a fee. Membership runs around $150/yr.

The group has a “meet and greet” from 6pm – 7pm, where there are snacks, vendors (insurance, banks, contractors, etc.) and an opportunity to talk to similar folks. At 7pm they do announcements (upcoming events, things members get like discounts, folks you can talk to, etc.) then the speaker goes for another 45 minutes. Depending on the speaker, they can be quite informative.

I think it’s a potential source of real estate knowledge. I will probably go on a month-to-month basis to see if its worthwhile. Depending on that, I’ll sink in for an annual membership. My timeline is to look at a potential flip in 2018, so we will see how the market goes.

 

How are your real estate experiences going?

Mr. 39 months.