All Forum Posts by: David Zheng

I've actually had multiple tenants negotiate deposits with me. I just by their lease term. I do all students so for a 4-5 month lease I'm not opposed to a 1 month deposit. usually 12 I do my advertised 1 1/2 unless they are really adamant about not paying too much. students aren't the richest and usually get money from scholarships with their parents backing, but try not to ask for money. so just be flexible if you can

Hey Ivan,

Just looking at your past success and your work ethic I say go for it. In real estate it really is getting out what you put in.

and like you said, you have a GREAT base in IT that has a stable job market. so as a backup you can always go back.

Good luck!

Many Congrats! Inspiring story :)

How do people accept offers without getting a Pre-Qual letter or anything....I don't get it

I had 75% of my rental income counted within 2 months of renting :p

I started investing this year and I'm around 600k in debt and I plan on leveraging as much as possible. Equity isn't my main goal...Cashflow is. So I expect in a downturn, I will be protected. As long as the top ranking schools and hospitals around my area don't suddenly go up in flames, I think I will be good :)

I started real estate this January at 25 and now I have 6 properties doubling my current income as a banker...

I also had 0 experience. Just did a LOT of reading online and asking questions like you :)

Attend every inspections and ask your agents everything you can. You'll start to pick up. However I am single with no  children and I cannot count the frustrations I've had with some agents and bankers. In addition so many late nights working on service calls, prepping for tenants, etc.

Just don't burn yourself out

So I like to be ready at all times and since I manage all 6 of my properties, I like to have my keys for every house with me.

How do you guys organize your keys? I personally don't want to leave a set in my car at all times and I don't really want to just leave them at home...

At the same time, its getting really heavy carrying 12-15 jangling keys all the time now

Hi All,

Was just wondering If I were to buy a house with 5% down conventional and live in it for a year, then rent it out and get another house for 5% down, and rinse and repeat.

Is that allowed? or will banks be suspricious

@Jean-Marie Poth

Thanks for the headsup....Scary stuff indead