All Forum Posts by: Kevin Dong

I would 1031 to another property lol. Equity is just the paper . Especially with these high end low cash flow property

absolutely no section 8 tenant.  I hate it .  And I don’t need to since there are enough normal tenants to choose from 

I don't know if that's worth or not. To me. Wholesaling is kind of the sales business. People who knows how to sale will be successful in this business. because there aren't much to the marketing and system really. I mean most of wholesalers use the same marketing. Cold calling, direct mail , post card. PPC .. It is all about getting the deals done not really about the lead. I have run into most of the big wholesalers at "off market appoinment " Sure enough, you will have better chances if you have a good reputation. But at the end of the day is how you can get it closed. How you can get the owner to trust you and hand over their biggest assets

Get a hard money loan to take the house down.  And cash out refi 6 month later.   You are saying it is recently rehabbed and appraised at 70k ?  So where is that 85k number come from though.  It is not really a deal for me if it is valua at 70k. 

Do what u good at.   Buy and hold is more less risky but not as profitable in a shore term in the other side. Flips is more profitable but More risky 

One of my wholesaler is doing this by his own.  He is doing roughly 70-100 deals per year with average over 15k fee every deal.   There are some good month and bad month.   It is totally possible.  Great wholesalers is honest and never try to sell the deals.  

I am kind of a control freak myself as well. I started with 200k in fort Myers Florida real estate market June 2017.   It is over a year now .   I am at around 1.5 millions assets including 16 free and clear rental units generating 13k gross rent and 3 flips going on .   I am doing fix and flips to generate more capital to buy and hold.   Mostly buying them .70 on a dollar or less.  I am a firm believer on you make the money when u buy.  And I am putting all of my profits back to business.   I am still small but I will get there. My goal is to double 2019.  

Originally posted by @James Wise:

Originally posted by @Kevin Dong:

absolutely.  I have what it takes.   Slide your emotion aside.   Treat it like a business.  At least I am trying after learning hard way 

 I think most of us if not all of us who are hardened landlords once had a softer stance. I know I did when I 1st got started.

Care to cite any specific examples where you were burned by tenants in the past that caused you to change your approach to the business?

 It is over time.  I used to work with tenant and give them a little more time. But they didn’t appreciate and don’t remember what I have done for them.  Talking nasty **** on me when I have done so much favor for them.   Well,   And all kind of excuses. About their elderly are dying in the hospital and later found out they are completely fine.  Just all kind of ********. 

absolutely.  I have what it takes.   Slide your emotion aside.   Treat it like a business.  At least I am trying after learning hard way 

there is no way window unit can’t be moved.   You either move the window unit or relocate the Eletrical service.  Compare which one is more suitable for the long term.