All Forum Posts by: Jedidiah Liu

Hi, thx for replying. I contacted a litigation lawyer from New York already. Now I'm looking for a Texas lawyer. If you know of someone, I will love your referral. 

Thanks

Jed

Hi fellow investors on BP,

Can someone refer me to "killer" New York litigation lawyer and Texas litigation lawyer? A deal fell through and we are trying to see if we can get back some, if not all, of the earnest money and loan deposit. 

***Please help***

Thanks

Jed

Yes, if you don't mind sharing the contact.

Jed

Hi,

Does anyone know a killer litigation lawyer who can practice law in the state of New York? I will love to have the introduction.

Thanks

Jedidiah

You also need to build your net worth and multifamily experience for banks to see that you are qualified. Multifamily investing, unlike SFH investing, is very unforgiving. You can lose huge if you don't know what you are doing. I would start off small, like 6-10 plexes. It will also be advantageous to know the basic mechanics of buildings that multifamily use (e.g. chiller, boiler, etc.). Learn how to be a landlord. I'm very sure the skills required for flipping are different from the skills required for being an asset manager and property manager. There are too much to talk about in multifamily investing. You can start off with a conceptual understanding by reading books. But I think the best thing you should do is to use the flips you earn to buy your first smaller multi. And slowly you can build up your portfolio that way.

I personally don't like hard money or private money as the funding source for multi because 

1. They typically are more short term lending. Multifamily is, in a way, a buy and hold asset that is meant to provide strong cash flow. 

2. Hard money and private money are too expensive. You can use them as bridge financing only if you know your plan only needs the fund for a short period of time. 

3. Too risky. 

With these 3 reasons, I personally wouldn't even go close to these 2 lending sources unless absolutely there was no other funding source. 

Good luck! 

I 100% agree with Chad. I'm Canadian, also from Toronto. I don't use LLC for any of the real estate investment because Canadian government doesn't recognize LLC. It's considered a taxable corporation in Canada. So really no point for a Cdn to set up a US LLC. Instead, I use LP structure. But anyway, you should consult with an accountant who knows both US and Cdn tax rules. And I also have a cross border lawyer. If you need their names, you can message me.

Hi Roy, what's your email address?

Yes, it is still available. I can send over the detail to your email.  

Hello everyone,

New to BP! Can't believe there is so much information about real estate investing! 

I can't wait to start exploring and soaking in all the relevant information. Thank you for the site and look forward to meeting some of you in the coming future.

Jed

Hi everyone,

I am presenting a Multifamily Investment opportunity to those who are seeking cash flow and solid upside in Houston, Texas. We are currently seeking passive investors who are looking for a 10%+ cash on cash return on their money. This project involves a 124-unit Class C properties in Houston, Texas with a value-add strategy. It has a projected 70%-85% cash on cash return over 5 years. That's 14-17% COC return annually! If you are looking to buy into a Class C building for cash flow and solid capital appreciation in a high growth area, this investment will be perfect for you.

If you are interested, please respond at BP,