It only took 2 years of real estate investing to replace his corporate income.
That’s an amazing accomplishment for anyone, and Daniil Kleyman did it. But he’s quick to mention that some of the reason is because of the way the real estate markets were at the time. The crash had just occurred and he was able to buy properties far cheaper than ever before so he had the opportunity to get into the game with a small amount of cash. His strategy was to buy properties, fix them up, fill them with tenants, then refinance the property based on the higher equity value, and do it all again with a new property. It as a strategy that worked for him, to the tune of an eventual $10,000,00. Find out more about this strategy on this edition of InvestFourMore.
New construction over existing properties.
Daniil Kleyman has moved forward in his real estate investment career to the point that he’s actually becoming a developer. He would prefer to build new properties over buying existing properties any day. Why? Because he thinks there are far less variables and headaches building a property from scratch than trying to rehab an existing property. The three things he cautions about are zoning issues, utilities, and foundations. Learn all you can about how your local municipalities handle those issues and you’ll be fine. Want to become a developer? Hear Daniil’s story on this edition.
Finding the right subcontractors for your new construction project is key.
As with any real estate project, the subcontractors who work on your projects are key to keeping budgets, timelines, and quality of the work to the levels you desire. Daniil Kleyman has found that it works best if he is the general contractor and then finds and oversees quality subcontractors for the specific areas he needs: plumbing, electrical, drywall, etc. That way he knows that each aspect of the project is being done professionally, but he’s able to keep his finger on the pulse of the overall project and push the deadlines as needed. It’s am amazing skill set this guy has developed. Listen in to hear how he got there.
Would you like some free software to help you evaluate potential rehab properties?
[tweetthis]A free rehab evaluation software you can use, in this episode[/tweetthis]
Daniil Kleyman first developed his “Rehab Valuator” to use for his own projects. But after sharing it with some wholesalers and flippers he knew, he realized it would be a great help to others. That’s why he’s made it available to anyone who wants to use it. You can find it at www.RehabValuator.com. Be sure to check it out and let Daniil know you found out about his great tool on the InvestFourMore podcast!