road start
# Entrepreneur of the Week # Post 2 Eyal Raber
I decided to start small with no leverage and no investors.
planning
I wanted to hold on to 2 properties and let it sit for a while. See how it goes. Do not forget I still do not know if real estate is at all what I want to do in life, and I wanted to take it slow.
I was looking for deals.
I was diligently looking for a property, no matter what and no matter where, one thing interested me, a return. I submitted about 5 offers every day that all my offers are cash without inspection, that way the seller knew that if he signed a contract with me the story would end and within two weeks the money was with him in the bank without any confusion. All my offer was valid for 12 hours with the excuse that I am only interested in buying one property and if he does not sign with me now I move on to the next property. After about two months I closed on the first properties that are fully owned by me !!!
Now start!
A 4 unit building and a 2 unit building that need work and if everything goes as I wanted they are supposed to give me something close to the goal which is return on investment in two years.
I have 2 properties to renovate, the renovation should be cheap fast and quality!
I took other projects and other projects so that I would not be dealing 24/7 with only 2 projects.
The idea was that I would help them with projects and they would help me where I would get stuck and I would need help from experienced people. Of course I was also paid for project management.
Search for contractors.
Most of us know how difficult and important this part is. So I did the job interviews at home. I wanted to make personal contact with the contractors.
At this point I had a very clear plan of what I wanted to do in each project so that when entering projects I explain to them exactly what needs to be done.
I found a number of contractors and we set off.
I knew it was not going to be easy.
It was not easy, it was hard, even too hard.
Runs between projects and Home Depot from morning to night. There were also things I did myself that were just insanely intense.
After 3 unbearable months in which I go to bed at 2 in the morning and get up at 6 in the morning, have we finished all the projects and rented the properties?
At the moment I have 6 yielding units that are completely mine!
I flew back to Israel ..
I flew to do think, figure out if this is what I want to do in life and at home to accumulate more money.
After about 6 months I made a decision. I'm going to deal in real estate in the United States!
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