All Forum Posts by: Charles Kao

@Michael Fucillo

If you are buying with 30 year fixed rate debt at a low interest, in an area with a diverse job market and growing what risk could there be? Maybe a a 10 percent drops in rent but if your margins can't handle that then its not the right deal.

You should always be buying, just not over leveraging and make sure you buy right. This is not a time to go for broke but buying your first property now will give you the knowledge to go for it all when necessary.

@Lakota Tidd

Oh I misread the post. Where is the duplex

located?

@Lakota Tidd Who didn't think you couldn't get 1200 on a duplex. I actually think thats low unless your are in Oakhill

cemetery or Black Hills.

@Johnny Horner Depends on how small town and the demographic. If you are in a very affluent area there is always a higher per capita storage demand because of storing boats and sports cars. I automated my facility with a call center and website. In small areas you won't have competition from REITs but because land is so cheap I find that mom and pops will

build everywhere like 4-6k square feet only because they free storage so figure may as well build a few more. They never raise prices and are 100 percent full and never pickup phone. I charge at least 20 percent more than all my competition and have strong occupancy still. All my competitors are businesses that also happen to have storage like car dealerships, waste management and a host of others. If you are buying in a rural area just make sure you are getting better cap rates. We are on our third deal this year either personally or for clients and all will cashflow above a 10 CAP.

@Nikki Taylor Depends on price range and interest but generally 100 percent of time its 2

weeks to 2 months and then 95 percent of time 2 weeks to a month on a flip.

On properties over 400k which is a higher end pricepoint in my market they take longer

to sell.

A 11k drop to me is nothing. It would have sold at that price with that long on market already if thats the price you wanted.

@Trevor Mitchell Welcome Trevor!

@D'Andre Byers

This is the toughest question to answer so I will try to be candid as possible and just speak to my situation as I don't know all details of yours. For me my #1 lifestyle goal in life was to be my own boss and create my own work schedule. During our wedding vows my wife and I

pledged to do that for each other and long before we were married we both knew the path to that was for me to hustle at my six figure W2 job as long as I could while she stayed home and worked on a career part time as a realtor with our 3 kids. She was getting laid off as a school teacher during the crash so it just didn't make sense to have the roles reversed. If you find your goals in life and how to get there are very far off then you both need to rethink whether your love of each other is greater than that. I know many cases where a spouse came around eventually but in most cases they were not in the way of the process to begin with but rather just not a part of it. Hope the best for you both.

@Brandon Kiel

Welcome!

@James Chompski

I go with John Clark of Short South realty. He

is my third property management company I have used and the best. Also helps out on due diligence of properties but I'm not sure if he would do that on a single family as he manages one of our apartments and working on a second.

@Cole Raiford

In honesty yes, which is very selfish because I saw the last recession wreck alot of families. At the same time I want to see my investments and portfolios tested and we have stayed very liquid in anticipation of one. Alot of people

have money available to them from

investors and banks so we'll see how much that dries up.