All Forum Posts by: Jian G.

@Ryan Young

That’s a big win I’ll fund your next deal if you find more like this

 i would do a 10 plex, lower risk, put money in on rehab as you save slowly, scale easier. 4-plex run down its going to require a lot of time and potential headache if you are new and things come up and you don't have good management, GC to take care of things while you have a full time job. 

welcome and happy learning!

that is a loaded question so the answer is it depends. what area are you investing? are you investing in hot area, are you investing areas near you? residential home and multifamily is two different things. you can control your environment with a lot of discipline. i recommend spending a good amount of hours reading and listing to podcast, then on your days off check out the properties you interested in investing. you can learn really really fast, you can be above average in a few months depending on how much work you willing to put out. also what is your financial situation, and how is that first investment do for you if it goes wrong. it is all relative, if your market is cheaper and you can afford to buy and hold without needing cash flow. there's enough tools out there you can quickly learn to minimize risk. if have a good profession, i would recommend buy at places not where you want to live, but areas that you don't want to live, it usually yield a higher return. i am not talking about the ghettos where they have shooting every night, but hard working class that just trying to put food on the table for their family. if you doing single family and try to minimize risk by doing your homework, you don't need all these people. just start slow, one person will recommend you to another and you will slowly find people that works for you. you can't build a team if you never work with them, you have to go through the pain of getting burn by people and you will find the one that will become your team. good luck!

Real estate is a numbers game like a lot of people say. Just make embarrassing offers. you might get counters you might get a no, but sometime you get a yes. just make the number works for you and thats the offer you are going to give. you can write offers all day. My wife is getting her real estate license and she will help us save on the commissions and write offers for us as well as finding off market deals that flow through the agency. I personally don't see any problem on making an offer that meets your investing goals. Don't worry about what the seller think and if your agent won't write the offer for you, have them do a verbal, if they don't feel comfortable find someone else. sometimes the seller want a price the market won't pay, if you are in the hot market and have a lot of foreign investor or people with money to park their money because its safer than stock or other investments and happy with a low return then don't fight with those people. you don't go in to a bidding war with somebody to win a deal because that is not actually not a good deal. hope this help and happy to hear what others think.

Hi Matt that’s really helpful, I been on the phone with the city all morning, it appears they know nothing and just transfer me from recorder to real estate to mapping to planning and zoning everyone just tell me to talk to somebody else. I saw the sub meter option in the city and there are companies that does this to do utilities bill back in larger apartment buildings. The planning told me to go in to the downtown office and talk to their surveyer/engineer department and need to hire an engineer. Does this sound right to you? 

 Thank you Justin, I am doing my due diligence as we speak. I will have drawing to confirm with the city before any construction take place. 

call animal control, start eviction as soon as you can and do a better job screening tenants next time and don't rent out to scum and you won't have this problem. 

Hi I am aware the process of doing such varies from city to city. I am in the city of san diego and have spoken to the city, they told me to talk to my realtor the sold us the duplexes and but my realtor is not sure. each property is recorded as one piece which means it cannot be sold as two separate pieces of property. however they do have its own house number. One of the Duplex share a wall and its mirror image on both side, and the other one they are detach. the employees at the city do not understand variances and lot division. my realtor recommend me to go talk to the county recorder or city planning.  does anyone here know the process and can shine me some light. I have 2 duplexes i would like to remodel, do additions and sell them all individually. 

I am looking for an experience plumber that is licensed to separate water meters. I have 2 duplexes in the city of San Diego and need them separate. Please PM me if you can do it or have referrals. thanks