All Forum Posts by: David Zheng

its funny you mentioned this cause one of mine went from 4400 to 5500 in 2 years. I.am.pissed.

Let me put it this way. The more you're willing to struggle and reduce yourself to just "surviving", the quicker you will get to you goal.

think of it as a foot race, the harder you push yourself and the more you suffer, the quicker you will reach that finish line.

It also depends on what your goals are. Lets say financially free for you means 4k in passive income and you want to reach that in 15 years. If you are working a 60-70k salary job and growing at that as well. No doubt you can take your time and enjoy life as you buy 1 property every couple years cashflowing 500+ each.

It's all a numbers game and easily projected on an excel sheet. Calculate your expenses  and income and see where you can save and where those savings can be invested. What can you make and reinvest with 2 properties, 3? I put these scenarios together all the time much like how many businesses have a 5 year business plan.

Anyways congrats to you for starting early and keep striving for your REAL goal, not the petty ones that come with being young and dictated by society.

So long story short. Managing an Airbnb and go to the basement of my multifamily to wash some towels. saw like 30 alcohol cans, pills, powerball tickets everywhere and one of my tenants mattresses on the ground.

I grab a sledgehammer and start screaming blood and gore. Homeless guy comes out behind a stack of bed frames.

I gave him one of my airbnb bed sets and told him to leave, saying that if it were another situation he could of been shot and killed cause you don't just pop out in a dark small basement at 10pm.

Anyways...I don't know how he got in, but I was lucky he wasn't an aggresive drunkard (at the moment) or worse...carrying weapons. So for future reference, whats the difference between a squatter and a trespasser and what consequences can they face. the basement is definitely NOT considered a living environment. its just for storage and laundry.

Could someone go in there and say "Im squatting and I have rights" or can I physically remove them

If it's another homeless dude and actually completely intoxicated and runs at me belligerently, do I have a good enough reason to retaliate?

congrats! Beautiful house

does she own it free and clear? if so why not just work a private deal with her as the bank.

or.....
if she's really nice have her sell it to you for the outstanding mortgage balance (which should be pretty low considering you have "memories" in it) so like if she owes 50k, just buy it for that much. and you can repay her the spread through a separate private deal? or just hugs and kisses.

Also note: you cannot use a line of credit for a downpayment unless its been sitting in your bank for at least 2 months up to when you apply for a loan

@Michael Le @Brian Adams

I learned something super useful today. Thank you guys for answering that :)

@Michelle Thomas

Thanks for that. I actually am already doing that including blowing up each and every employee's email box. yes I literally send my questions to their entire office that I grabbed from google.

I have a pretty big social media following and I will be telling friends to completely rip them apart online and everywhere as well. I'm so sick of people not doing their jobs.

They literally complained that they spent 16 hours underwriting my loan in 4.5 weeks. and basically got nowhere. like...wtf. I spend 16 hours a DAY getting my business to where it is.

I was hoping for some sappy love story...a coincidental business pact with a lover, a climax where she found someone else and stole it all, and a strong resolution where you got back on your feet.

@Brian Adams

Why do you only want to hold it for 3-5 years? I feel like this is one of those deals you hold onto forever as long as it makes a lot of money. Unless you're like looking to 1031 into a 1000 plus unit. which at that point, why not just find new investors and keep this 500+ and then another huge complex.
Also.... much congrats and thank you for the inspiration!

Great great progress. Congrats on scaling so fast!