All Forum Posts by: Julius Chinn

Make sure its all legal you already know they will go that route.

Since you say low income.  Try offering $25 a booking go straight in their pockets.  Tax Free. What low income wouldnt go for that .   

I own a few doors and im not onborad people buying now.  Its just rolling the DICE.

I brought my Grandfather a deal.  4 Plex $50 a door.  He called the COPS on me..............they didnt come.   Figure of speech.

He asked me why i didnt buy it.  Told him are you nuts. Numbers NO MAS. Numbers no good.

We both laughed and he bought me Dinner.

Do you have $50,000 to call Mr Real Estate back?

Tell them to hold on. They might be able to snag a cond-tel at one of the big 3.  Prices have come down quite a bit from $250,000s to under $200,000.

I see $150s maybe in the near future.

Vacancy is a thoretical concept.  Different markets are different.  Just prudent to use one month vacancy in pro forma.   If you can do better that $$$$s in your pocket.

Buyers are people in FEAR OF MISSING OUT mode.  OP puts on market with 5% discount problem solved.   I dont see what all this i have to protect my parents stuff is all about.

The House is not a beloved Dog.  Its a Freaking House.

Lets analyze.

Sell house at said discount-  Happy New Family.

Parents-  Can breathe again...yes its a JOKE.

Win Win and further govt collects Taxes.   No one loses.

Ill give you all a FREE lesson on RE investing. Lets use Clayton Morris.   Ask him how much product has he sold his MOM the last few years.  Remember he  is pitching get rich with real estate. Only logical he would load up his family with these HOT deals.

I would like to ask  politely Mr F or the other Fella how much RE they purchased since 2018.

Go by what people do not what they say.

Example Most powerful man in the world say you should go Green to prevent the waters from rising yet buys Oceanfron property in Hawaii.   Screw the GRREEN....go buy waterfront property in Orlando.

5. Turnover on a 5 year stay is no way no how $500.  Just a deep clean with no repair is costly.  If Eric gets 5 year stays that one in his favor.....lol.

6. Garbage man have to pay Obamacare.  They charge for pick-up.

7.  Sinking fund to replace roof, etc needs to be 10% or greater.

One thing i agree with Eric on Since for a few years Vegas is a roll the dice market. No sane person would buy Vegas for cash flow.

I love Real Estate people.  But one has to remember their job is to push RE.   Conflict of interest. 

Guide: the 1% rule.   $300,000 /1,750 is pretty darn close to 1%......hahahahaha.  I know 1%needs to be adjusted for whatever.  But since when is Vegas a half of 1% kind of market.

Price over $300,000 (20% down)with rent of $1,750 that sounds spot on.  I dont like to use the leveraged return that can be manipulated,  i like to use full cash price to base returns on.  Hard to mislead there.   Monkey to monkey comparison.

Mr F breakdown a bit more realistic but doesnt go far enough.

$15.00 per hour working McDonalds. Pump whatever you can into a ROTH IRA, preferably MAX amount, preferably SandP type fund. Do it till you finish Skool. Maybe ease up on contributions-life happens. EZ peasy $5,000,000 when you retire. Spending power in 44 years , who knows get the $5,000,000 worry about it later..

I know veterans who are taking a break from RE now.  They have money just not interested in profiting $50 a door. Numbers are insanity......and beyond.