All Forum Posts by: Cheng (Chris) Yu

Thanks again for the motivation guys! I am super pumped about getting into this realm. Would you guys recommend getting the PRO subscription so I can go ahead and start doing BRRRR Analysis? Or should I wait a bit until I am somewhat more knowledgeable about how this industry works. @Nate Shields, @Ryan Whitcher, @George Blower. 

Hey thanks @Nate Shields! I am pretty excited! When you say network like crazy, does that mean going to meet ups? I am usually pretty shy in large crowds, but perfectly fine with one on one. Do you have any strategy or books I can read to open myself up to larger crowds? 

Hey thanks @George Blower! Any tip for a newbie like me? I been listening to Bigger Pockets Podcast, watching their youtube videos, and reading up on the Ultimate Guide to Real Estate for Beginner book... anything else I should do? 

Investment Info:

Single-family residence buy & hold investment in Duluth.

Purchase price: $198,000
Cash invested: $12,900

This is my primary property that I bought for my family. I am planning to rent it out or flip it depending on whether or not my family moves out in the future.

What made you interested in investing in this type of deal?

I wanted my family to all live together under one roof. At first I did not see this property as an investment until I started listening to Bigger Pocket podcast.

How did you find this deal and how did you negotiate it?

I found this property through a real estate agent. The price was originally in the 200K's, but we negotiated down couple thousand dollars to 198K.

How did you finance this deal?

I am doing a home loan. I put down 5% of out of pocket cash.

How did you add value to the deal?

I am starting to do small renovation projects to get the house in top shape to one day rent or flip when the right time comes.

What was the outcome?

I hope the outcome will help start my real estate investing journey. I love the idea of financial freedom and starting the journey with my own property seem like the obvious thing to do.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am seeking to find professionals to help grow my passion and interest in becoming financially independent. I am happy to learn more on real estate investment.