“He saved up 20% down, bought one of the cheapest properties he could find for $55K and did the repairs himself using YouTube.”
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Said on BiggerPockets Real Estate Podcast
“I put about $2,600 into that house, did all of the work myself watching YouTube videos…sold that in early 2014 for about $60,000.”
Lucas Teague · BiggerPockets Real Estate Podcast · 3 Paid-Off Rentals: The “Boring” (But Proven) Path to Financial Freedom
Play from 4:58
4:58
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What was described
Renovated the $8k HUD house himself using YouTube tutorials, spending about $2,600 on materials and labor
$2,600 renovation cost, sold for $60,000, $50,000 profit
Said nearby on the same subject
“Carnegie also insisted on railroad-style cost accounting… His monthly reports carefully spread labor costs… tracked all raw material inputs and percentage of waste… competitors literally had no idea what was going on inside their own company.”
♫
Said on Founders
“We were losing $500 a house the way we were doing it. And that is a business where you don't do it with employees. You do it with subcontract labor. And we were not set up to do that. So we just couldn't compete. And we got out of that business pretty early”
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“We use density functional theory to estimate formation enthalpy ... if that energy is higher than other materials ... it's unlikely that this material will be able to be made”
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Said on Latent Space: The AI Engineer Podcast
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