All Forum Posts by: Andy Chen

Thank you guys for your honest responses.  These are great advise that I will take great heed on and just to show how much more I have to learn and grow.

That was my initial thinking as well.  However, I may still need to monitor how long a house stays on the market as this can affect my margins.

Hmm..I just realized I may have mistaken MFH for manufactured homes vs multifamily homes.  My beginner's mistake!

Oh you're right.  Forgot about that rule.  Thanks for the warning.

Hey @Chris Mason.  Do you offer any loan programs for first time flippers (not dolphins)?

I'm just getting started myself here and I'm starting to wonder if I'm getting in at the right time for flipping houses...:\  The Schiller index shows a new high and no ceiling for new trend.  Should I be scared?

My theory is there is a huge wage gap here in our area.  Those Googlers and Facebookers that made it big here start buying in on SFHs and the RE agents help drive up the prices through multiple bids.  On the other end of the spectrum, we have lots of those who work hard with low wages that can't afford these high priced houses and are basically forced to look towards MFH's. I'm also looking into those myself for my first flip given I don't have much initial capital to start off with and I've noticed quite a few of them are nicely renovated to drive up the price.  

However, I was also warned to stay away from MFHs as well as they're not worth the time and energy...

Hi Everyone,

The questions I'm about to propose may be a bit odd and I'm hoping the community can help guide me as I'm feeling a bit lost at this point. Here goes.

So for the past month or so, I've reached out to referrals that I thought was a great start to forming my REI team.

One is a seasoned REI that have many years of experience in RE with multi-million $$$ portfolio and have his own company and also a referral from a good friend of ours. He initially came up really friendly and bought my son and I breakfast and proposed he could help me start out. First he asked me to look for properties online and do my own assessment. I've done exactly as he told me and sent him links to Redfin/Zillow on properties that I thought met my criteria and I would almost do this every other day. Slowly he stop answering my calls and emails.

The other is a good friend of our family.  She owns a private investment company and also a RE agent.  I honestly thought she would make a great partner as we both shared the same vision of doing real estate to retire early.  She recently decided she couldn't do flips due to her financial situation and want to pursue a bye and hold strategy.  I told her I'm open to that idea as well given how we initially talked about flipping first to build capital and then do the buy and hold down the road.  Now we are at a point where we stop talking about RE period and she gone silent scope so I got the idea.  I instead asked her if I can use her private lending company to fund my pursuits and she answered a few questions of mine, but the more questions I send her, the less she responds.

In both situations was I too aggressive to a point where I start to feel I'm nagging?  Did I scare both of them away with all my questions and ambition?

Please advise...thanks!

Hello everyone,

I am new to REI and trying to put together my team. At my current stage, I am looking for good real estate agents in my area and I ran into this site called UpNest, a 4 yr startup company in San Francisco area.

Question:  Have anyone tried to use their service?

Trying to get some feedback from other users and their experiences with them.

Thanks in advance.

I hear Google planning to build a tech village right next to Caltrain @ downtown San Jose:

http://www.mercurynews.com/2017/06/23/google-village-million-square-foot-downtown-san-jose-tech-campus/