All Forum Posts by: Arlen Chou

@Jitin Chopra I don't meet people over coffee on anything any longer. I was just spending to much time away from working my hustle. However, if you do want to talk and learn I do invite people to come out and help me work on my properties and talk as we go. I am usually in Oakland at least 1 day every weekend, but you have to be ready to work and get dirty.

@Constantia Petrou there is a really cool product you can get from Amazon. It is sold by Dumawall. It is basically a vinyl tile that you "glue" on to the existing surface. No need for demo and extremely easy to install. No need for a contractor, just some basic tools and time. 

As a disclaimer, I am not related to this product. Also, I have only used the product in 2 different tub/shower enclosures, so I have no long term data on the product.

Good luck!

@Tony H. you are 100% correct, once you leave the Bay Area it is extremely hard to get back in. I would suggest that you take an interim step and do some further analysis on your lending situation. You did not state your current interest rates on either loan. It might be worth the effort to go shopping for new loans. You might want to also consider either refinancing the loan on your condo or putting a HELOC on it so you can get additional money for a down payment on a SFR in the Bay Area. It is a little difficult to get to any specific strategy as there are many pieces missing in the story: what city is condo located, do you both work, would you be willing to move to a different city and keep your higher paying job, etc. Prices are coming down in the Bay Area right now, but that could be a good thing for you if you are looking at a long hold period.

@Constantia Petrou I cannot give you a recommendation on a contractor for this work, but I can give you a warning about somebody on this forum who says he is a contractor. Send me a PM if you are interested. On a side note, why are you going with this product? There are many alternatives that might be easier for you to manage or even do yourself.

@Anthony Chao congratulations on making your first moves. When you are looking at out of state properties you should take an additional step and take a look at the tax ramifications of each region. Property taxes and income tax ramifications are something that many early investors neglect to consider when making a decision. As an example, Texas has very aggressive property taxes, but no income tax. California has prop 13, but aggressive income taxes. If you invest in Texas you will pay high property taxes in Texas and high-income tax in California. Look past the deal when you are going away from your home turf.

Good hunting!

@Wenqian Guo congratulation on making the first decision move on going into owning property in the Bay Area. Be very careful as you move forward because you will get many sharks swimming toward you now that you posted your financial base. This will include real estate agents and people who claim to be contractors. There are several very good meetups in the Bay Area, go to those and vet the people through several points. Although everybody seems very friendly on the forum, not everybody has your best interest in making a recommendation or giving advice. I have personally had issues with contractors on this forum that seemed very nice, but in the end, were total frauds. David Greene is obviously well known and there are many people who can attest to his work. But it is worth the time and the effort to find somebody that you personally feel comfortable with that has been vetted by people you personally know. You will be spending a large amount of money, time and effort on growing your portfolio. Make the effort now to find the right team before you commit all of those resources based upon the faceless recommendations of people on a forum.

Good luck to you on your journey!

@Medi Sarwary there is no real reason to hide the fact. However, having a 3rd party to defer decisions too is always a good negotiation tactic to gain you some time to make a more informed/thought out decision. If a person you are living with, who knows you are the owner, were to ask you to replace the carpet in his room, you immediately must answer yes/no or let me think about it. This creates a small amount of friction within the house for everybody living there. However, if you say I will need to discuss the matter with the owner, you give yourself space and the opportunity to deflect the final decision to a third party is created. As an example, if I go to a car dealer and they start the pressure sales pitch I will say "I cannot make the decision because I must defer to my wife".

@Jay Hinrichs once you get your ride we will have to drag race in LV! I will definitely be there next month. Let me know if you are coming in early and lets catch a meal or at least a drink.

@Jay Hinrichs I agree with you on so many things but this one I have to go a different direction. I cannot believe 8 pages of posts on this topic an nobody has brought up the Rivian R1T. 4 motors = true 4 wheel drive and "tank turns" for tight off-road trails. Only 410 mile range per charge. They have a couple of test mules running up Argentina. The end goal is not published but the word is they are heading to Alaska. I put my deposit down last year.

@Jake Stokes have looked into student housing? Cal Poly is right there, I have to assume that there is a market for student housing. It is very different than regular rentals, but the margins appear to be much higher. You would be especially in good shape if you could find a SFR that could carve out additional bedrooms. It is a completely different business model but I hear there is good money in it.

Good luck,

Arlen