All Forum Posts by: Sandra Roddy

Lately, too much of my time has been consumed by the notion of growing my real estate portfolio into a legitimate money maker.  My dream is to supplement my current W-2 income with passive real estate income within the next 10 years.  Yet, to do so, I need to be a more bit aggressive. 

Out of my nine properties, two are paid off.  Additionally, I have one property with approximately 150K in equity.  

All things considered, for those who have jumped into real estate full-time, would it be wise to pull out the equity from my properties?  Afterwards, it would be used as seed money to acquire more properties in better cash-flowing markets like the Mid-west or South.  

Smart?  Or dumb? 

@Daniel Ryu

Greeting.  Field trips are always nice and educational.  After seeing the pictures, and reading the posts w/ comments, I knew I missed out.  Thank you for keeping the rest of the group informed and involved.  BTW, this would be a great tradition to start.  Most of us are busy, yet we are also passionate.  Therefore, we would certainly allocate time to support our hobby ... and dream.  

It amazes me that deals, like this, can be had with the right strategy.  Our Sokcho folks make it look too easy.  Yet, behind every good deal there is a lot that usually goes behind the scenes.  

Real estate is where it is at!  This hobby of mine is getting out of control!  I have caught the real estate bug!  Lol.  BTW, I am now looking at purchasing two more properties -- at auction -- back in Arizona.  If the prices are right, two more properties will be added to my portfolio by the end of the month.  

This deal was an absolute home run!  It almost makes me want to jump into the Korean real estate market.  Kudos to the happy buyers for being able to pull this off. 

Keep us posted @Matt Carpenter  

Did you every consider keeping it as a rental?  Some paint and some bling (light fixtures, new faucets, etc.) would make it pop and the rental pool would easily take note. 

@John Van Uytven

Congrats on landing a RE job that will enhance your knowledge and skill set.  We miss you here in South Korea.  

I'm counting down Dan!

1.  PROTECT YOUR ASSET.  Perform due diligence (i.e. screen) when you are electing who will stay in your place.   If you are scraping for money or eager to rent out the place, it will bite you in the rear.  Quality over quantity, any day! 

2.  BE FAIR.  Put yourself in your tenant's shoes and keep the place in reasonable condition.  Don't drive by the place to see if the weeds are cut or to check out the cars that are parked outside; get a life.  Conduct operations like a business.  Don't visit/befriend unless absolutely necessary.  If you are proud of your place, the tenant should feel the same way. They pay your rent, you provide housing.   Keep it profitable and drama free, please!

3.  HAVE AVAILABLE FUNDS.  Regardless of who you cater towards, expect a few hick-ups.  Life happens, people go through tribulations.  Be smart and leverage yourself wisely. 

4.  STANDARDIZE.  Create a business model that is sustainable, especially as you start to grow.  Use the same paint, carpet, tile, brands, etc.  This alone will save you a ton of moolah.  As you start to grow, you will see the importance of this.  Keep your costs down as much as you can.  

Oops, I threw in an extra piece because IMO it is vital for growth.  

Yes!  The best group in Seoul will gather this weekend for some phenomenal shop talk. Love it!  Words of wisdom from trendsetters and go-getters.  Count me in!  My fuel tank is almost on empty and it needs to be refueled.

I need my real estate fix!  It is an insatiable desire that few people can understand.  Of course, my mindset is different than that of most folks ... whom I shall call ordinary and maybe even delusional, especially those who try to input their "values" onto mine.   These folks I shall describe as foolish for being small minded and conforming.  

On a serious note, a big thank you to the founders and guest speakers.  Your generosity and words of wisdom are appreciated. 

@John Van Uytven ;  @Daniel Ryu ; @Benjamin Hauser

@Daniel Ryu

It is all about having a good system in place!  Likewise, I admire you for jumping in with "virtual partners".  Now IMO, that is brave.    

@Daniel Ryu

Good post and podcast Dan.  Through the podcast, I learned you were a Bruin.  Right on. 

Someday, I hope to become an entrepreneur in a foreign country (i.e. Mexico) and I might have to seek some of your awesome advice  ... and wisdom.  ;)