All Forum Posts by: Daniel Ryu

@Jared Vidales 

Yes, it's in Seoul, Korea. 

@John Van Uytven 

Good to have you back!

@Maxwell Lee 

How can I be da man... when you are clearly da man?? 

@Jacob Michaels 

Thanks for introducing me to Cashflow by Robert Kiyosaki! That was a lot of fun. I emailed the Samsung Cafe, so hopefully they let us use the space in the future. Thanks to you and Victoria for suggesting it. 

@Sandra Roddy 

It's all possible because of great investors like you who are willing to share and give back ^^

And I agree... If you're in Korea & interested in Real Estate, come out and join us. 

If you're interested in being a virtual guest and expanding your profile to include "international speaker" or start to tap into an international audience, send me a message!

We have over 130 members, many of whom are looking to invest in places such as Memphis, Atlanta, Jacksonville, Indianapolis, Austin, Dallas, Los Angeles, Houston, Phoenix, Kansas City, etc, and looking to network with people on the ground in those places and people who have experiences with turnkey and other investing. 

We also have many international members with guests visiting from countries such as Taiwan, Bali, Hong Kong, England, Uzbekistan, and Shanghai to name some of the countries represented. 

We always tape (with permission) our virtual guest and edit it into a short clip which can be publicly viewed on YouTube (also with permission). 

It's a great group of people, and we've recently begun to look for a larger space as we think our regular meetings could draw over 40 people. 

Anyways.. That's enough about us! Check out the links above if you want to learn more. 

Our videos:

Joshua Dorkin

http://youtu.be/zNe1b178zWY

Brandon Turner

http://youtu.be/nqgZTwwu_2Q

Meetup Tips

http://youtu.be/UhQpdJDUC5o

Are you in Korea and looking for ways to connect with other Real Estate Investor? Do you want to learn more about how to invest in Real Estate in Korea, the US and elsewhere? Are you interested in expanding your profile to include an international audience?

Then join the Real Estate Meetup that both BiggerPockets CEO, Joshua Dorkin, and VP of Growth and Development, Brandon Turner, attended (virtually) this year! (links to their appearances below)

Our next meetup will be on Saturday, March 21, 1-3pm, at the Gangnam TOZ

Directions:

Map to our Meetup

Click to RSVP Here:

RSVP to the March 21 Seoul Real Estate Investing Meetup 

To Learn More about US:

http://www.meetup.com/Seoul-REI-Meetup/

(Here are some pictures our latest event - Robert Kiyosaki's Cash Flow Game Day held in Hongdae last Saturday! In addition to our Regular Monthly MeetUps, we also have events like Cash Flow Game Days, Google Hangout Q&As, upcoming Field Trips where we take a look at out actual Korean Real Estate, and much, much more!)

A short video of the game in action:

Cash Flow Game in Action!

Make sure to click here to RSVP:

RSVP to the March 21 Seoul Real Estate Investing Meetup 

(There is a charge that goes to pay for the space - any extra we use to buy gifts for our speakers.)

And if you have a chance, give us a LIKE on FACEBOOK:

https://www.facebook.com/SeoulRealEstateMeetup/

Links to more information about the Seoul Real Estate Investing MeetUp:

Joshua Dorkin explains why he now HAS TO VISIT KOREA

Brandon Turner TELLS about his WORST Real Estate investing experience:

Read about our latest adventures right here on BiggerPockets:

Joshua Dorkin attends virtually

Brandon Turner attends virtually

Our Meetup Keeps Growing (+100 Likes)

Wanna Meet other Korean Real Estate Investors?

Would you travel over 7,000 miles to attend a MeetUp? If it's the Seoul Real Estate Meetup, then you might!

Join other BP Members:

@Jacob Michaels @John Van Uytven @Benjamin Hauser @Josh McNicoll @Sandra Roddy @Dustin Karns @Paul Wurster @Natalie Heo 

That sounds great, @David Davila 

I'll PM you with my contact info and we can start planning it out. Our next meetup is planned for May 21. If that coincides with your visit, I encourage you to attend. I'll send you a message with that info.

As far as getting a MeetUp started, really it started with @John Van Uytven first messaging me through BP - just your standard "hey we're both in Korea on BP.. why don't we grab coffee.."

Then he started a MeetUp on the Meetup.com site. He used the name - Seoul Real Estate Investing and I believe our first MeetUp was called, "Basics of Real Estate Investing." This helped people know right away what our group was about.

I suggest that's a good way to start.

Also, if you haven't, set up keyword alerts in BP (through your dashboard) for Shanghai and China so you can be alerted anytime it's mentioned.

You can also try to do a search through BP for "China" and "Shanghai" and start PM-ing people or seeing what they're posting about and adding a comment.

After we set up the MeetUp, we made Video Introductions - just using our computer cameras - and set up a standard response to any new members that included our Facebook page, links to our Video, etc.

We also created some video cartoons (a little more complicated - maybe if you get someone in your group who has some computer skills?) and we'll set up a website at some point.

We try to send out a message to our group about once a week using the Meetup tools provided.

We got about 12 people to go to our first meetup. And then it grew from there.

Some tips to grow it:

* Send out recaps of your meetings

* Try to get experienced meetup members to talk at meetups 

* We feature one virtual guest each time to increase our pool of potential speakers as well as to emphasize how much easier and connected the world is nowadays

* Try to find local area experts - I'm sure there are lot of people who might be interested in investing in China as well or learning about property. That can attract members to join.

(Our members are split about 50/50 between Korea / World interest and US interest, although lately it might be skewing more toward the US.)

* Post about it on BiggerPocket in the appropriate forum so people know what you're up to. You can't advertise a meetup on BP unless your a Plus or Pro member, so keep that in mind.

BP basically helped us connect with other investors in the area. Then we, as a small group of three people, broadened our reach through MeetUp.com 

After a successful Meetup, we posted about it and thanked the BP community and it happened to catch Brandon's attention.

He said he'd help us out and speak at a MeetUp and I think that really helped to build momentum and obviously Joshua joining us helped to keep it going.

So I think once you get the ball rolling, you will find, as I have, that not only Joshua and Brandon but a lot of other people can help support it and grow it. I know I will.

Anyways, if you want to see more of our marketing and outreach tactics, join our group and make sure to allow 'messages from organizers.'

I hope this helps! Good luck!

@Bill Gulley 

I agree.. People keep posting if you have insights to add!

I'm thinking about lending money on a flip and potentially receiving money in the future, so I want to know both ends of it.

For one potential flip opportunity, I've been asked to lend on 'repairs.' 

In that case, a general outline would be:

Scenario: Buyer wants Investor to fund Repairs for a house Buyer will buy from Seller.

1. Investor asks for a promissory note and Deed of Trust that the Buyer signs. I'm assuming a title company can handle the creation of both of these documents at the time the Buyer completes sale from the Seller. However, I've read from Michael Blank's post on "Syndicating Flip Deals" that not all Title Companies can do this? 

http://www.biggerpockets.com/renewsblog/2014/04/28...

I've also heard that Buyer does not choose the Title Company, but Seller does?

So if the Seller's Title Company cannot / will not issue promissory notes on behalf of the Buyer for Investor, does the Investor find a real estate attorney to draw up the promissory note and Deed of Trust and ask the atty to record the documents with the appropriate courts?

2. If Investor provides funds for the repair, the note should be an Future Advance Note and the money should be held in a repair escrow account through the title company? If that's the case, does the escrow company require 'receipts' or invoices to issue money? Or does that depend on the language within the Note?

4. If the Buyer is also using a bank as Lender for the original purchase, then I'm assuming that that Lender, particularly if it's a bank, will get first position and the Investor will get second position?

Alright.. Looking forward to learning more from anyone who can add more insight! Thanks.

Hi BP Community!

I'm working to put together my first flip deal in Jacksonville, Florida (Riverside). 

I'll be doing this from abroad .. way abroad ^^ (Here's more about my adventures posted on BiggerPockets, including getting both Brandon Turner and Joshua Dorkin to make a virtual appearance at our last meetups!)

Anyways, I've read over this article by @Michael Blank on 'syndicating flips.'

http://www.biggerpockets.com/renewsblog/2014/04/28...

It seems to me to be a very professional way to do it. In a nutshell:

1. You get investors to agree to help finance the flip.

2. Title company issues promissory notes collateralized against the property you intend to flip for the investors.

3. Investors send money directly to the title company.

4. After the sale of the property, the Title company issues 'payout' statements to the investor and sends payment to the investors

I think investors will like it because the 'flipper' won't handle any of the money directly and the investor's money is collateralized against the property.

So my questions are:

1. Has anyone investor in Jacksonville, Florida handled a flip this way before?

2. Does anyone have any advice on how to find a title company that can do this?

3. I've heard that the title company is chosen by the seller of a property, not the purchaser. If that's the case, then when you buy the house to flip, if the title company the seller chooses doesn't offer this service, is there nothing you can do?

Anyways, if anyone has any insight into - using a title company to issue promissory notes or working with investors on a flip - I'd love to hear it.

Thanks as always, BP Community!

@Peggy Liu 

Thanks so much for your encouragement! I love how BP can help connect perfect strangers from all over the world.

Speaking of which, after looking at your profile, I just joined your Meetup! So looking forward to finding out more about what's happening in Los Angeles, California, where I'm originally from.

Thanks so much for reaching out! The easiest thing to do when reading a post is to just read and move on, so I'm glad you took the time to leave a message.

Thanks @Account Closed for the encouragement!

By the way, how's the market out in Austin? Have you seen any affects from falling oil prices?

Best of luck in 2015!