All Forum Posts by: James Park

Can someone please refer me to a good flat fee brokerage in the state of IL that will allow my listing to show on the MLS with a lock box rental fee.

Thank you

For my CA. Broker license, I have taken finance, appraisal, and property managment, and enjoyed the legal apects of real estate class the most.

@Mike Landry, 

It seems like you are quite diversified, not too heavily allocated to either real estate or stocks. Would you care to share your cash / debt ratio percentage? Cash on Hand / Total mortgage debt on primary residence and 3 investment property mortgages.  

Curious to see how everyone is allocated between Real Estate, Stocks, and Cash, and cash in hand / debt ratio in 2015.

No one needs to share their actual numbers, unless you want to, but just percentages.

For example, if your networth is $10,000

1) Your equity in real estate is $4000

2) Your stocks holdings (401k, IRA etc) is $3000

3) Your cash on hand is $3000

4) Your total mortgage debt (primary & rental properties) is $10,000

Real Estate would be 40%, Stocks would be 30% Cash on hand would be 30%, and cash to debt ratio would be 30%

@David G, 

The best to complete all the classes online is through Allied. I was able to get three of the classes waived from my undergraduate business degree and just had to take : 

Real Estate Appraisal, California Real Estate Principles, Practice, Law, and Finance. 

Try to schedule your exam on Monday and take the RE Trainers CA Saturday / Sunday Crash course review right before the exam. I took course in Santa Ana and took the exam in LA and I found it very beneficial.

Hope this helps.

I would definitely also like to hear from landlords who own multi tenant retail, warehouse, and office. What has been your experience with this type of investment vs residential ?

The reason i like commercial over multi-family  is because you are dealing with business owners and entrepreneurs  as your tenants, probably in par with high end single family rental tenants : $2600 - $3000 monthly rent.

You will not get  this caliber of tenants with duplexes, triplex, quad , or apartments. 

In the forum discussion, Rich Dad vs David Remsey, someone had mentioned a book called the "Wealthy Code" by George Antone so i decided to order it from Amazon. 

There is a chart that shows three different categories.

1. Cash Influx

- Flipping, Foreclosure, Rehab, Wholesale

2. Cash Flow 

- Income Properties, Paper, and Businesses

3. Appreciation

- Forced Appreciation, Timing market, normal market, SFRs in appreciating market.

The interesting part of the book is that once build up wealth and equity with your single family homes in #3, you want to trade for a better yield income properties. #2. Gary Eldred writes in his book "Investing in Real Estate" that a million dollar real estate rentals paid off clear and free should yield you anywhere between 5% - 12% passive cash flow: $50,000 - $120,000.

For those of you who started out building equity in your SFRs in good neighborhoods, what type of income properties did you trade your SFRs for? 

I personally am not a big fan of multifamily, duplex, triples, apartments and the like, but do have interest in possibly trading my best SFRs for 5 unit office warehouse or retail strip in Forsyth County for better yield and passive income. I was wondering if any other individual investors here in Bigger Pockets  have taken this higher yield  buy and hold path by trading your SFRs?

Question.

1. If your SFR investments have appreciate 100% from its purchase price, would a trade to higher yield income properties be a wise move?

2. How many of you actually have $1 million equity in your real estate investment holding yielding $100,000 or greater passive income and what type of real estate investment do you hold to get this yield? What was your investment strategy getting to this level?

I have never read any of Dave Ramsey's personal finance books, but his book on entrepreneurship, "Entre Leadership" was an excellent read.

In times of deflationary environment, follow the Ramsey Principles.

In times of inflationary environment, follow the Kiyosaki Princles.