All Forum Posts by: Frank Wong

Hi Jeff,

It sounds like you are ready to move on from it.  I am sure it's in an amazing location and holding it long term would be solid.  The negative cash flow is not bad but there is some sweet equity in there which could be applied to other things.  My vote is to sell cash out and enjoy it.

Timing is everything.  Not in timing the market on when the next downturn will happen or not because no one knows.  Anyone calling for Dooms Day drop always says its coming. "Its coming" can be forever.  How about a date? 

As for timing, its gotta be the right time for you. You must feel good about your knowledge, you must have a game plan on what you want to invest in and why, and you must have enough money saved up to buy your investment and weather any storm that may or may not come.  That's when its the right time to buy.  

Schools matter for the value they always have and always will.  Cupertino and Palo Alto great examples by @Jay Hinrichs  Both cities are highly coveted because of the schools and values reflect that.  Now does going to a great school guarantee your success in life? No, but it makes it much easier and removes a lot of obstacles.  I am a big believer in parenting and up to the individual to make happen for themselves. I mean I went to a ghetto school and I turned out fine. lol

100s offers a month seriously?  That is not a viable strategy that is for amateurs.  How much time are you wasting doing this?  Your realtor will fire you.  There is a difference between losing out on a deal because of competition and losing outputting in no chance low ball offers. Your time should be more valuable than this.

Focus on making money and increasing your high-income skills.  Don't worry about investing unless you have money.  It's called INVESTing for a reason.  Can't invest with no money.

Hi Henry,

If you are on the upper tier of the rental market on the price I would have it all inclusive and pay for the lawn care. 

Derek,

Expect not to make a sale for 6 months.  Just what a typical timeline of finding a new prospect and converting it into a closed client.  Could be faster but you gotta plan it out just in case.  

The big difference between RE and stock is control and difficulty. RE you have more control over what the possible outcome can be.  With stocks, you have zero control.  You can do everything right on your analysis and still lose money.  

I would say stock investing is probably 10x harder to learn and there is much more emotional capital that needs to be used than RE. I trade the futures market I know first hand how hard the market is.  Buy low and sell high is not a real strategy much more complex than that, any real trader knows that. lol 

Stocks do have their advantages in the liquidity department.  I can be out of position in a second and have my cash ready.   Both investments require you to be on top of your knowledge and education.  Most important for both is to know risk management and proper leverage. 

Vinyl plank floors for sure durable easy to install and looks good.  I am not a fan of tile aesthetically it's just not pleasing to the eye. 

If it's a brand new tenant I always go with something short 3 months or month to month. They don't know me and I don't know them.  If its a renewal, I'll give them a $25-50 discount depending on the property for 1yr lease.