All Forum Posts by: Michael Lewis Lee

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Hello Joseph!  Income production time.

Hello Rodney!  Realize that customer service is almost important than sales.

Good luck to you!

Hello again Fili!  I have noticed your questions everyday for about a week.  The length of time depends on your financing.  It could take 7 days or three months.  If it is Owner-Financed  it takes a short time and a bank takes the longest, usually.  It usually depends on the length of time the loan is based upon, if a loan is necessary.  Have your purchase statement that allows you to walk away without a penalty until you close and that addresses all of your concerns.  Best wishes!

Hello Bill! There are a few things to discuss. First off, check the demand in your area. A 401K is just paper, real estate ownership is having a physical investment after tax money and it can be a decent way to save money until it is invested.. Have a 401K in after tax dollars. It is a decent way to have one as a savings vehicle until you can use it to purchase real estate. Borrow as much as you can as long as it has positive cash flow after the debt payment is made. It is probably better to invest in a BRRRR if it is an add-value product.

The more units at each address is usually better and it is less painful with a vacancy.  You might ought to put 30% down in lieu of all cash.  There is nothing wrong with debt as long as its on something that has positive cash flow.  Understand the difference between assets and liabilities.  Only invest out of state with an experienced Turnkey provider that also manages the subject property to reduce your traveling expenses.

A Buy and Hold is usually better than a Fix and Flip.  Do not quit too soon.  Be long term minded.  Never quit educating yourself.  It's very difficult to predict the future.  Many salespeople do that.  Good luck to you!

Hello Kelly!  I would recommend to have someone that is a good salesperson on the phone that makes appointments for you and gets paid upon closings, not appointments.  They are also called Phone Sharks.  Good luck to you!

Hello again Gage!   I was getting to a point that I have learned that the more units you can handle at one address the better.  The more units you have the less torture will be less painful each vacancy makes you feel.  At least, start out with a duplex and work yourself up as you gain experience.  If the existing layout works for you and the prospective tenants I would stick to what the city has approved and not convert it back to one unit.  You might see if a local City Building Inspector expects any problems with doing that or conversion and if there are any problems that currently exist.  Good luck to you!

Hello again Gage!  I must have hit the wrong button and I was not finished that letter. 

Hello Again but 

Hello Gage! There several pod and comfort each type orf real estate options available.  I