All Forum Posts by: David Zheng

I personally wouldn't ever do anything. Not worth the headache. plus you aren't collecting extra rent or enjoying a soak

@Johnson H.
@Arlen Chou

@Account Closed


I'm not doubting his skills at all. I think it's quite impressive he's doing what he is and has accomplished. Sorry for sounding so toxic, I didn't mean it that way. I just figured the value ratio between markets should be taken into consideration.

For myself I've taken 200k in the Midwest and also doubled my value in a year (through  acquisition, remodeling, refi, etc.) However, It's hard for me to believe I could take 200k and somehow be able to turn it into a couple millions in 2 years in cali when as you have already pointed out...there are investors in cali willing to spend millions in cash.

Like I would fully expect minh to have an easier time tripling a 200k investment in the Midwest than he could in Cali if that makes sense?

 it is always going to be easier to make money when you have more money.

but again, very happy for Minh as he's done what few have accomplished. definitely more than me and somewhere I aspire to be

You're basically saying you invested 2.25 million and doubled it. Great! However,

This is not a good representation. sure if I had 10 billion dollars and bought all the apartments in san fran and tripled the rent from my monopoly, I could make 30 billion.  

Now can you double this with only 200k? 500k? I doubt it in California...

Not everyone has 2.25 million lying around

Amazing job! and Great writeup!! Congrats :)

I would just post on craigslist make them sign some standard waiver they cant sue you for any reason and get on with it.

Honestly people looking for cheap labor on craiglist probably wouldn't have the money/be educated enough to sue you for hurting themselves.

Why so much legal work and headache to pick up trash.

I also personally think the smartest person in the room should be me. At least have a basic knowledge of everything and anything you do.

For example, I don't have a license in anything but I'm starting to write my own sales contracts and read over laws. I have fixed toilets, to look at roofing, install closest, etc. I'm trying to get some knowledge of everthing so when a contractor or manager comes to me, I have some idea where to do. if I had unlimited time, I would do everything but I don't so that's when I start to delegate what has to be done.

Good for you on reducing costs and trying to make side income. Start saving everything you can for a first deal on your own even after 2-3 years. Then when you can show you have the capabilities to start making a high return, start asking friends/family for investments.

If you want to birddog it, then forget about getting anything but experience for your first deal. That is the main point. Also I'm assuming this is in a local area. Do you know it well? Have you zillowed all other similar selling homes around it? Go check out the property personally and look at the structure and make your own assumptions.

awesome job dude!!! at 21 years old too! Very impressed :)

honestly credit score speaks loadddss on a person

responsibility, ability to pay on time, juggling multiple payments at once, job security, etc.