All Forum Posts by: Stone Jin

How does the oversea student have a SSN and credit score?  Are you getting a lot of inquiries?  It may be better to wait for a 1 person applicant?  Can you rent out as vacation rental?  I'm assuming you own the property?  

I think part of the conversation here is if you are heading into real estate full time or just as a hobby. For example, I have a full time job that I like and I invest in SFH as well. I'm not really interested in learning wholesaling or MFH or Fix Flip or becoming a realtor. Really depends on what you want to do, each person is different in terms of how much they want to invest in their Real Estate career. I understand the concepts of all of those topics but just not interested in being the expert.

when people ask me if I'm a property management company or owner, I always say both. I have a management LLC that only manages my properties. With that said I always tell people that the lease is a legal contract however the tenant and landlord is going to relationship outside of that. In terms of your name on checks, just sign up for a service like Cozy where they send you payments online and they never have to write your name on anything.

One tactic you can deploy is to have Open Houses at your own house and ask girls if they like the house and if they would like to live there.  The ones that say yes, follow up by asking if they would like to live there with you.  

It's a numbers game!!!!

@Mary Jay

I think you may find value in speaking strategy with a cpa or attorney. I wouldn't sign a lease with each little LLC, you may want to set up a LLC that is a property management LLC and then have a management agreement with each LLC that holds real estate.

i'm not a cpa or attorney so please use your own judgement.

@James Cloud What do you mean when by buyer, the investor or the end consumer (buyer of flip, tenant, buyer of wholesale)?  There are many different people wanted houses in different neighborhoods, a doctor and a truck driver are likely to want very different product.  As you know Phoenix is very diverse so buyers will be diverse.

I still think you need to figure out what type of investor you want to be, then the forum will be able to provide suggestions on which parts of town you want to focus on.

but i generally do the 2 people per bedroom rule.  I don't want 6 people in a 2 bedroom condo for example.

I would ask your insurance company, I know my insurance company had some issues when I had 4 names on a lease that didn't share a last name for a SFH. I don't know what that means in terms of coverage if say your house burns down, could the insurance company not pay out a claim due to you having more than 1 family living in a "single" family house.

Hi James, the question you ask is very broad.  There are investors doing deals in virtually every neighborhood in the valley.   The second part of your question is also very broad, different investors have different acceptable criteria.  Some flippers are ok with just 10k profit and some are not.  Some buy and hold investors are okay with 5% Cash on Cash return and some are not.  

I think you will have to ask what type of investing are you willing to do and what type of returns are you willing to take.

Good luck,

You can create your own LLC online with AZ corporation commission for about $100. You can also just record your own quit claim deeds with the county recorder for $8 per property. You can ask your title company for a template.