All Forum Posts by: Kenji Otokawa

Hey Ezra,

Sometimes small community banks or private lenders will do a 80% LTV loan. Lenders all have their own unique criteria for both the property and who they are lending to. I suggest reaching out to multiple lenders and asking around for those that are investor friendly. I will say that many gauge experience. The more experience you have, the more comfortable a lender will be lending to you. You may also want to look into DSCR loans. These loans require less documentation but are a little more expensive than conventional loans. Multiple lenders offer these types of loans. There are a lot of different loan products out there that may make sense for you. Hope this helps!

@Bruce Woodruff Very true. It depends on the project, location, and what is being estimated. This is why I suggested her asking the contractor what they think is fair too! 

Maybe $50-100 or so. Depends on your market perhaps. You can also ask them what their hourly rate is and offer to pay them for a few hours. Maybe ask them what they think is fair too! 

Hi Michel,

You need to get familiar with your section 8 authority for your area. Here in Atlanta for instance it is called the AHA (Atlanta Housing Authority). We have many others for different states in GA. I am sure your area has something similar. They should have resources that can let you know all the information you need. You may also need to become section 8 certified or use a property manager who is in order to be able to accept/inherit section 8 tenants. When I started, I found another section 8 landlord in my area and asked them what to do. Every area has its own rules. Hope this helps!

Hey there,

Offer the contractor to pay a fee for their time going out and giving an estimate. This way they know you are serious. They will know it is only a matter of time before you do buy something and use them. They may even decline needing payment, but it is nice of you to offer! 

My advice is to find clear examples of successful scenarios of what you are trying to accomplish. If your spouse sees that normal humans accomplish what you want to accomplish, they may be more likely to listen and learn. Once on board, start with a small project, learn from the mistakes, go on to the next!

@Vicky Liu

I invest in Atlanta. It’s good you have connected with a agent here. I’ve often invested in up and coming neighborhoods the last 10 years. The neighborhoods to vary drastically. While many consider them unsafe, I’ll say we have had few incidents in these neighborhoods. Our strategy with these homes has largely been targeting appreciation. As more and more people buy in town, Atlanta is running out of places for people trying to buy in the $250-$400k range.

Sugar Land sounds great as well. Perhaps less risk and more cash flow but less appreciation there?

Whatever the case may be, I think it comes down to your goals and also what deals you find. If you find a great deal in either city, go for it. Just ensure the agents or experts you are working with can confirm it is indeed a deal.

@Jason Li

Is 13% including their finder’s fee? The going rate down here seems to be 50% of first month’s rent for a finder’s fee + 7.5% of monthly rent after that down here.

@Zoie Holley

So many things. My favorites are below:

1. There is no deadline. Many people who would be great investors have a lot of other stuff going on in their life. They always want to invest but are busy or distracted with other things. They keep pushing their first investment, and before they know it, years go by.

2. Analysis paralysis and fear. The 9-5 is safe. Someone holds your hand by guiding you and telling you what to do. In RE, many let the what if’s stop them from investing. To combat this I recommend partnering. We often feel better about jumping in if someone takes that risk with us. I am forever grateful to my real estate partners.

Good luck and hope this helps!

Thanks @Danny Randazzo! Always looking for good lenders