All Forum Posts by: Larry Lim Jr
Larry Lim Jr has started 1 posts and replied 5 times.
Post: Las Vegas Duplex + ADU. Fire property. Full Remodel
- Posts 5
- Votes 1
@Omar Merced How is this coming along?!?!? Excited to see your progress.
Post: Personal Introduction, Goals, and Thanks!
- Posts 5
- Votes 1
Originally posted by @Brian Walters:
@Larry Lim Jr welcome. My family and I just moved to Vegas about 6 months ago and are looking to start investing as well. Similar to you, we came from a more expensive market (NYC) where the numbers were just too high to learn.
We love it here and are excited to start investing. Happy to connect, exchange ideas and see where things go. Feel free to reach out if you're interested.
Nice!, Yes NYC is crazy and I can't even figure out as a single person what to do in the Bay Area / San Francisco market with no experience.
Definitely keep in touch! I will probably be stalking your posts as you got to this forum a bit before I did, and so far you're asking all the things I would as well! Cheers!
Also, I do have to ask, why LV for you/your family? For me it's an hour flight, I have friends in LV from all the years of hanging out and partying. So now we happen to be a bit more mature, and being real adults.
Post: Personal Introduction, Goals, and Thanks!
- Posts 5
- Votes 1
Originally posted by @Stephen DeThample:
Vegas is a great city, and young housing market. Multi family is a little rough though. Good luck 🍀
I did notice that after the last few months of clicking around. Quite a few little condo/apartments springing up however, and was checking out how the math works on those especially since the $100k-$150k range is pretty easy to budget personally.
Like, what could possibly go wrong? haha.
Thank you for the wishes!
Post: Personal Introduction, Goals, and Thanks!
- Posts 5
- Votes 1
First of all. Thanks in Advance for all information that everyone in here provides.
Found this group, in one of the investor forums off Facebook. I've learned a TON of information from groups/forums in the past 21 years. From learning to modify my own car and pull an engine, all the way to investing in stock options and crypto. Learned a lot about many things but need lots of guidance with this endeavor. As there is TOO MUCH information for me to handle. It’s like giving a squirrel 8 shots of Redbull at 5am.
About me:
-Nearly 40, but act like a 25 year old.
-Solid sales job of 15 years and good income with savings, and a 401k maxed yearly.
-Credit score 780-800+ , 1 late payment 3 years ago, over 20 lines and 300k available. Oldest line 20+ years.
-Live & Work in San Francisco
Goals: Personally, I want to do something similar to my parents, but not in the Bay Area. My goal is to start with a 3- or 4-unit place, and have it pay for itself. I want to go through the process and learn how this works. My Dad & Aunt bought their first home in 1976 on a big lot in the Bay Area. They divided the house into 4 apartments, and started renting 3 out. They still live in the 4th unit to this day.
My target market is Las Vegas, I’m there 3-8 times a year, and feel like with all the Sports Teams, fresh Hotel construction, and a solid University, it’ll be a good rental market for me to learn. Another reason why Las Vegas, the numbers are easy to work with and I can afford it. Living in San Francisco, I am terrified of the sheer size of the numbers, commitment, and the lack of experience. I'm great with numbers, good at thinking on my feet, and making somewhat smart decisions. Avoiding house hacking as I’m in a good place, and only work 15 minutes from home.
Any and all connections, advice, and encouragement welcome!
Just wanted to say Thank You to everyone in this thread. In the same situation as the OP actually, and looking for my first investment. Learned quite a bit in the span of 4 pages of reading.