Charles NoonanPresident, Landbank University · Real Estate Developer & Instructor

DO NOT BUTY REAL ESTATE UNTIL YOU WATCH THIS! #investing #realestateinvesting #landbank #bankofficer

19 Jul 2023 · 1 min

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YouTube monologue by Charles Noonan (uploaded July 19, 2023) advising new real estate investors to start with lower-cost, lower-risk projects—specifically land banking—before attempting larger fix-and-flip renovations. The speaker gives anecdotal evidence about contractor failures and large unexpected renovation costs (examples cited: $45k–$100k), prefers small losses (example: ~$3,000) while learning, and frames investing as progressing through "levels."

Chapters

People think in real estate you have to spend a lot of money, but before you can do that, just get something that's in a smaller budget and then grow from there. People always want to go for the guzzler, go for the small thing. Less risk, less headaches. You know what I mean? I think the biggest thing I've seen in real estate is contractors doing these fix and fix where you got. You got to put $50,000 in. It's another, you know, 100,000 or 45,000 to fix it up and stuff like that. Then the contractors don't. Don't come through. So that's what I'm saying. Land bank is something that's less risky for you to get your feet wet. Learning ins and outs, you know, I mean, I'd rather lose, you know, $3,000 on somebody stealing some windows, whatever, than me losing 45,000 or $50,000 from a contractor my first deal. That's fearful. That'll make me not want to do real estate no more. Of course. What's a bad taste? So if I do something small like this, like land back, get my feet wet, do a couple now, it's like I have more confidence to move to the. The next set of levels. You don't know how to go for levels. It's levels. It's levels.