All Forum Posts by: David Song

Erin Wysocki How is the Orlando Area market now? I looked at some Kissimmee SFR two years ago, for a possible second home. Any areas that is good for vacation or retirement? Is it better to get a condo or SFR? What kind of budget? No state income tax?

Jackson Wu I recently invested in Modesto area. 8% cap is possible.

Joseph M. A matter of fact, GC in SF Bay makes a lot more money than Midwest. However, the expenses are also high. It is really hard to find good reliable contractor in Bay Area. I used to have a crew of around 10 people, doing my own flips and also takes some jobs from outside. I came to the realization after about 8 projects that GC business is much less profitable than REI with buy and hold. Investment is meant to be mostly hands free, with money making money. GC is a job, just like a realtor job. You make some, but not big money. Now I do not hire full time people anymore. Subcontract out everything. We are constantly checking out various contractors for special trade. We have compiled a list with quite a few of them, and found some good ones. I think BP should establish a review section for contractors, so that RE investors can find good ones, and compare how much it cost for each trade in each location. That might be another revenue stream for the BP founders.

Manolo D. The security is in the collateral. Not in the person. Just like hard money.

Nothing wrong with any strategy. Only time will judge the outcome. In 5 years, you will know.

Vivian: You are in a good position, with your license and bilingual ability. Spanish is important in California. You can find the needs of Spanish speaking population in your area and there must be opportunities. One area I think that has been overlooked is the lack of financing opportunities for immigrants who has stable incomes but not much credit history, many of them speaks Spanish only. Ironically, many of them are paying rents 1500-2500/ month, but not able to find loans to buy a 50k - 100 k house, or condo, or mobile home. If someone can offer a loan product to them, with a little higher interest, they will save a lot over the rent they are paying. You can make money as a broker, with your license.

Great job and great deal. That fish also looks really nice. Where is a good place to learn fishing?

A lot of people are looking to find place to park money. If you can offer a good product, i think money should not be the issue. What kind of interest and collateral?

The risk is certainly higher now than 8 years ago.

Cody L. 👍👍👍👍