All Forum Posts by: Alex Ng

Can someone enlighten me how the subto process works? I know what it is ( taking over someone's mortgage) but how does the process look like? Do they just transfer the title to my name and I pay closing costs? Do I pay the mortgage to the bank even though the mortgage is in the seller's name? Would title/escrow know what to do in the event of a subto transaction? Can someone walk me how the process goes. Thanks

Hi, I'm looking to buy a property for MTR (Victorville, CA). I did a bit of research and know how much properties rent for MTR-wise. I want to know a more concretely and hopefully numerically how much demand MTRs have in a certain market. I know I should look for hospitals/corporations and I have done that but does it fully guarantee that the MTR will be rented? This property would not cash flow as a LTR and the occupancy rates for STR is too low (40-50%) so MTR is the only viable option. I have strong hopes for this city as it continues to develop. I want to be able to minimize my risk as much as I can and make sure this property will cashflow as MTR. are there any tips to help in succeeding in MTR? How do I calculate the vacancies in MTR? How do I calculate the demand?

Anyone willing to share some hidden gem markets for STR, MTR, and LTR? Would love to hear where you have been investing in and how well its been going!

Im interested in trying rental arbitrage. I just wanted to know if it is still profitable and will continue to be profitable. With all this airbnbust talk, it makes me question whether airbnbs can be profitable. It seems like a lot of cities are banning airbnbs now and with people shifting to MTR, MTR is going to start being oversaturated. Can anyone who's still doing rental arbitrage share with me their experiences and their numbers (if willing) in this niche? Id love to learn more.

The hardest part of real estate for me is finding and locking in deals. I've managed to get one property but it took me months of trying and being rejected. The market is so competitive. Its near impossible to find deals on market and if there are deals, you're competing with so many people who can pay in cash over asking. I try to look for deals offmarket like Facebook, Craigslist,etc. Its still difficult because people are in these fb groups and they are competing. I tried finding wholesalers but they rarely follow up with me. How are you guys consistently finding deals? It is demoralizing to put work and analyzing deals just to be rejected in the end. Any tips on how to find deals consistently would be great. Thanks.

I'm trying my first BRRRR project in Augusta GA. It is a medium level rehab. Carpet needs to be removed and laminate tiles installed. Rehab kitchen and bathrooms. Patch up some walls and repaint the interior with new fixtures. How much on average would this be? How can I go about estimating the rehab costs by myself? I tried looking online for materials but most websites dont list the price. Should I trust a contractor's words? I'd rather be informed so I don't get screwed over. I'm budgeting at most 40k for all of this. What are some tips I can do during rehab to ensure the highest value-add?

I've been trying to buy a Bank foreclosure. I submitted many offers but they were all rejected. the Property has sat on the market for 6 months now. They seem to drop in price every month. I submitted an offer 7k from asking and it was still rejected. I'm thinking of resubmitting a new offer 5k from asking but the month is almost ending, they might drop the price again. Can anyone give me some tips on how to negotiate with the bank?

I'm looking for affordable STR in Florida. Could I get some recommendations on which market to look at? I'm looking for subto 25k entry deals in places where the occupancy rate is high and the laws favor STR yet is still very affordable. I'm also open to MTR too in case STR fails. Can ya'll recommend me a good market? Thanks

 would it be better to just have the contractor take a look through the property instead of an inspector since they would also know what needs to be fixed and be the ones fixing.

I'm looking to BRRRR my first property. Its a FSBO who is willing to sell to me. I plan to take a look at the property before choosing to purchase it. Should I schedule the contractor and run a scope of work and get a bid the day I look at the property? Or should I first look at the property and then get it under contract before having the contractor look at it? I live about 2.5 hrs away so it could be a pain to drive there twice, once to look at it and another time to meet with contractors. Should I schedule 3 contractors to come the same day? How should I organize this.