Comments on: Is real-estate management time consuming?

By: How much capital do you need to start real-estate investing? « How to Make 7 Million in 7 Years™

Tue, 23 Sep 2008 08:32:45 +0000

[...] answered Rick’s ‘time’ question here, but now he asks the key question about ‘money’: What is the minimum practical amount [...]

By: AJC

AJC — Mon, 18 Aug 2008 19:26:11 +0000

@ Rick – Best resource for #1 is this book – even though the title says “multi-family” you will find it just as useful for single-family houses or condo’s [I don't make ANY money, or earn ANY commissions for ANY products or books that I recommend on this site]:

http://www.amazon.com/Multi-Family-Millions-Reposition-Apartments-Profits/dp/0470267607/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1219072288&sr=8-1

As to # 2: $0 … and, here is an oldie-but-goodie book that explains how:

http://www.amazon.com/Formulas-Wealth-Create-Fortune-Estate/dp/1881554082/ref=sr_1_9?ie=UTF8&s=books&qid=1219087165&sr=8-9

If you don’t want to try ‘no money down’, stand by for a f/u post ….

By: Rick Francis

Rick Francis — Mon, 18 Aug 2008 18:06:37 +0000

AJC,
Thank you for answering my question! Since I think I could manage a 2 hr/year time commitment, this post gives me some interesting follow up questions;
#1> How do you screen property managers?
#2> What is the minimum practical amount of capitol to start real-estate investing?
-Rick Francis

By: AJC

AJC — Mon, 18 Aug 2008 15:17:10 +0000

@ Trainee – It’s time that you promoted yourself to ExpertInvestor! Either that, or I’m also still a ‘trainee’ … we seem to see things eye-to eye

@ Moom – people need to treat real-estate (even buy/hold) as a business … albeit one with a lower-than-average time requirement, but it requires at least SOME time and effort, nonetheless.

By: moom

moom — Mon, 18 Aug 2008 13:44:03 +0000

A lot of bloggers seem to have problems with their property managers. A lot also seem to find out that property is a much harder investment than the gurus make out. But if you buy and hold and outsource most things to competent people it could work out very well.

By: Time is more important than money. « The Business Blog @ Capital Active

Time is more important than money. « The Business Blog @ Capital Active — Mon, 18 Aug 2008 10:26:01 +0000

[...] in the long run that type of thinking will cost you your potential. This is what AJC said on the 7million7years blog today. Trading time for money is exactly the wrong way of looking at it: time is a finite resource; money [...]

By: traineeinvestor

traineeinvestor — Mon, 18 Aug 2008 08:25:48 +0000

Outsourcing is a great way to leverage your time. I have a similar situation to yours with a couple of properties overseas under management. So long as you have a reliable and honest manager who is fully transparent on costs I regard the expense as being good value for money spent.