Hands on Real Estate investing.

[SharperDingaan]

One of our nephews is considering the RE game in the UK. We have deep circles of competence on the construction and financial sides, the rest of it … still to be determined. As there are posters on this board with hands on experience flipping real estate - a couple of questions for you …

 

Do you also hold/maintain a real estate licence? and are you always acting on one side of your buy/sell transaction? If not – why are you paying commission to someone else, and how do you keep ‘a finger on the pulse’ of your local market.

 

Do you also hold the trades certifications? Master electrician, plumber, etc.? If not – why not, and how do you keep ‘a finger on the pulse’ of the changing codes in your local market.

 

Do you routinely contract others, rent equipment, and/or contract yourself out to do jobs? How/where did you learn the people skills? Is some equipment rented more often? What software would you recommend? Visualization, project management, accounting, etc. Do you do the sales side yourself, or outsource it to specialists?

 

Is this a projects thing in addition to the day job, or the day job itself? How did you get into it? is there a minimum level of activity that you aim for. Would you have done this again, or even earlier - had the opportunity presented itself?

 

We have in mind using RE as a hedge against extended unemployment, over a working lifetime. School to get the trades papers, software exposure, and RE licence. Industry and projects experience to make some money. Wealth accumulation in your own home, and/or purchase of the equipment rented.   

 

Would love to hear your various thoughts.

 

SD

Edited June 11, 2021 by SharperDingaan