All Forum Posts by: Eric Lau
Eric Lau has started 3 posts and replied 60 times.
Post: Clayton Morris / Morris Invest House of Cards starting to fall.
- New York, NY
- Posts 60
- Votes 82
Nigerian Prince for sure!
reminds me of this guy who turned it to a good cause: Pleasant Green on the tube
Post: Clayton Morris has filed a privacy dispute against James Wise
- New York, NY
- Posts 60
- Votes 82
Glad you're on top of this James!
Post: Purchased as legal multi-family, but now it’s not?
- New York, NY
- Posts 60
- Votes 82
Originally posted by @Craig T.:
Jimmy Dudley I spoke to them and explained the situation, however, my best option moving forward is to try and get the grandfathered “legal” non-conforming use if I can prove it was used as a multi family prior to 1976.
this is happening to me now. how did this work out for you?
Post: Clayton Morris / Morris Invest House of Cards starting to fall.
- New York, NY
- Posts 60
- Votes 82
Originally posted by @James Wise:
@David Barnett @Pete Barrow @Justin Bearce @Justin Bearce @Luke Beck @Irina Belkofer @David Bell @Sachin Bhat @Paul B. @Ali Boone @Christopher Brian
I have officially won the copyright claim against Clayton Morris. His attempt at suppression has failed and the video has been restored.
link?
Post: Clayton Morris / Morris Invest House of Cards starting to fall.
- New York, NY
- Posts 60
- Votes 82
Originally posted by @James Wise:
As many of you already know I released a trailer of my film about Clayton Morris and his company Morris invest and their work with Bert Whalen and his company Oceanpointe. You may have also noticed that the video has since been taken down (for the moment) due to a copyright claim.
It looks like myself and Clayton Morris are going to have to duke this one out because I have no intention of backing down. I will be getting all of that footage out to the public again.
YES! If it was up i didn't get to see it. thanks
Post: Multi family or single family
- New York, NY
- Posts 60
- Votes 82
wait...you can build a duplex for less than 160k?
Post: Would you liquidate your 401k to purchase your first property?
- New York, NY
- Posts 60
- Votes 82
@Justin Reyes
I liquidated an old 401k from a previous employer at around 50k.
Yes you get taxed but you still get taxed later at retirement as well. Maybe just a different bracket depending on your earned income at retirement age. And for real estate investors that will not be low.
I also couldn’t contribute anymore because my new CIty job does not roll over 401k, city jobs has a 403B. Similar but not the same family.
So I cashed out my entire 401k after 3yrs of not contributing. Originally I was just going to let it compound....then I stared to think investing in rentals.
The 50k after all the tax and 10% “penalties”. I just call it fees or robbery...call it what you want.
Got me into two single family home and two (2unit) all rented.
Do what makes sense to you. If you ever follow what every one else tells you. You will just be working and never touching your 401k till your 65.
Make it your story not theirs.
Post: Multifamily units investing and buying no money down for beginner
- New York, NY
- Posts 60
- Votes 82
the only real no money is when you refinance on a good ARV.
Post: How to Raise Private Capital - Experience with Chinese Investors
- New York, NY
- Posts 60
- Votes 82
@Michael Ealy
Amazing. We should talk.
Post: Single family or apartment buildings??
- New York, NY
- Posts 60
- Votes 82
I own both. things I do not hear with muti units...who is mowing the lawn...what lawn?
Door for Door multi is cheaper...but the property is more expensive...did that make sense?
Multi Pro: units can be a little dated and still be rented. backup rents to make payments if a unit is vacant.
Multi Con: Water, Sewer & Gas bills carried by the landlord.
Single Pro: Higher Rents & longer staying tenants depending on your area
Single Con: vacancy and holding cost.