All Forum Posts by: David Zheng

@Aryelle Collins

I didn't say you or any investor is an idiot simply because they don't have a first property. I said it is extremely fishy when someone seems to know what they are doing but don't have any properties under their belt. They could be a professional scammer that can throw out great numbers and projections, take your money and run. I'm not saying you or the majority of people are. but again look at it from the investors point of view. its their money.

Would you blindly buy a car from a salesman who has never made a sale in their life but seems like they know everything? resumes are important, experience is important. numbers aren't everything

install both. I just replaced my first $90 garbage disposal in 20 minutes last week.

or you can deal with clogged pipes and 2am calls ;)

your own personal experience is important. if you don't have skin in the investment, you should at least have skin in the business.

I think @Jay Hinrichs would agree with me, but if you don't own at least one other rental or have down multiple flips of your own, it's almost impossible to find a partner. Think about it from the investors point of view. on one hand, you don't want to work with an idiot cause they will lose your money. On the only hand someone who has a lot of knowledge and has done the analysis work but no deals under their belt is also really fishy

I literally read so many people writing...

I have a deal. need financing. need 100% funding. need partners to give me money...

I understand if a property is hot or may move fast, but shoot, I can make 30 phone calls to lenders, banks, family/friends in an hour

why are so many people entering into contracts without first finding out if they can fund it? Do they not care about losing earnest checks or the trust of real estate agents, sellers, and brokers that they work with once they find out you led them on?

holy crap! from 4 units to 52! very happy for you and congrats on the baby!

Keep that deposit. That is what it is for. plus you don't want these crappy tenants to think they can just go around slinging safety deposits to any landlord and getting them back whenever they want.

also future reference...theres a reason lenders always ask for 6 months worth of escrow and mortgage payments in reserves...if you only have one months worth of mortgage payments before you default, you need to start saving more.

good luck

Hi all!

Just needing a little motivation for the beg. of the week. I was just wondering if people are willing to share their level or education or what kind of full time job (if not real estate) that they have and their level of success with real estate.

of course if you make a lot more money, its easily to play with properties, but I want to hear about the 30 year old plumbers who own and manage 30 properties on the side, etc.

Personally I just graduated Washington University in St.Louis with a dual major in finance and accounting and now I'm working at wells fargo as a trader. I started investing this year and now hold 6 properties, but I feel like I'm behind....so many people seem to be getting 10-20 properties a year and its depressing me.

so lets hear it! show me what can be accomplished!

Was going to say exactly the same thing as Matt.

Stop listening to all these glorified posts about no money deals until you have a large amount of deals and years of experience under your belt.

I wouldn't let them paint either. Seems like a hassle all around especially if they get it on the floors, appliances, etc. just dock $$ from security deposits if they mess up your current paint

I say go with a bathtub. Even Adults like a soak once in a while.