All Forum Posts by: Michael Wang

Hi Don, congratulations on expanding nationwide. Just curious what factors you considered when expanding your presence beyond Texas. 

Hi Chris, I've been going through some posts in BP and YouTube channel and thanks for all the work you've put in. 

I was wondering if you could share some insights on the pros and cons of investing in judicial and non-judicial market? What's your criteria when picking up a market apart from all these economic factors. What's the liquidity for land like in the secondary market-my primary focus is infill lot and rural vacant land. 

Thanks

 Thanks for your input Jay. 

Hi Lauren,
Thanks for your feedback. I was wondering if you could share the link to the episode.

Hi everyone, I'm a land investor with experience in flipping residential land, including infill lots and rural vacant land, with market values ranging from $40,000 to $200,000 in NC and TN. All of my transactions have been cash sales. Lately, I've been thinking about to creating a note portfolio to build a six-figure "passive income".

Are there any specific criteria for selecting states for note investing?

I've been thinking about the difference between judicial and non-judicial foreclosure states. Non-judicial foreclosure states have a faster foreclosure process, which means I can recover my investment more quickly if a borrower defaults on payments. But some states have both judicial and Non-judicial foreclosures, and I guess I will need to narrow down to specific counties. 

I'd like to create my notes as well as buying some performing notes done the road using investors' money.

What's your thoughts on picking up a specific state or county for notes investment?

Thanks

Michael

@Scott Sklare Yes, I would love to explore the opportunity further. I have sent a colleauge request.

Hello,

My name is Michael Wang and this is my second post here in Bigger Pockets. This goanna be a long one and thank you for everyone reading this and really appreciated.

Here is the background:

I am from China and currently live part time in China, part time in Toronto ( My family immigrated to Canada recently), and part time in the UK.

I am currently running a business from China to help Chinese investors invest in the UK student rental market. Since my family has moved to Toronto and I would like to explore the investment opportunities in the US (US produces a better ROI)

My goal:

My three year goal is to build up my portfolio in real estate and expand my network in the US by leveraging my access to Chinese investors.

My 5-10 year goal is to set up a PE fund specialized in real estate investing in the US and would like to get some hands-on experience on some development projects in the US.

My solution:

First, I need to identify a niche investment strategy that can maximize the return for every party involved in a sustainable and recession-proof way.

Second, I am able to invest and control remotely but eventually I would like to get some hands-on experiences as well.

Third, I need to find someone that I can trust and has a proven track record that can get things done on the ground. I want to develop a long term relationship that can creative mutual benefit.

I am currently analyzing three investment strategies but haven't decided which one to go for. I would really appreciated if you guys can offer me some advice and would also love to get connected with like-minded investors.

1. Flipping land: buy low sell high. I will not focus on door-to-door direct mailing, instead I will just buy directly from wholesalers, eBay and Craigslist and flip over to another investor at a discounted price, I am thinking about selling at somewhere between 80-90% of the market price (Well, I know it could be difficult to determine the market value for a parcel of land). I am currently targeting at cheap raw land in Texas, anything with 1-2 hour drive from city center.

This is more an active income I generate to pay my expenses.

2. Buy highly discounted house through foreclosures, Tax lien, tax deed, add value and rehab, sell and manage, This is where I can generate both active income and long term passive income

3. Buy discounted multi-family units and repeat the step 2.

I would like to start from something small for strategy 1 and 2 to test the water. I am a big fun of Texas and Florida, and have been looking into the market. I am also open to any other markets especially those states close to Toronto.

I understand that in order to create a successful investment business in the US, I need to build up a team on the ground. I will love to hear what you guys think and anyone who is interested in getting in touch, please just shoot me a message.

Many thanks,

Michael

I have recently closed a deal on a 4-bedroom ( 4 en-suite bedrooms) house in King City, Ontario (This is my primary residence) and I am interested in reducing some of mortgage payments through short-term rental. 

My understanding of King City is not a typical place for short-term rental, I just wonder if anyone could provide me with some advice? I have checked the data on AirDNA but couldn't see the entire data since I haven't subscribed the membership.

I am also interested in finding out whether my house in King City is suitable for applying for Secondary Suite program ( we have an unfinished basement with seperate entrance) and any other strategies to increase the income stream on the property?

Your advice is much appreciated!