All Forum Posts by: Tin Lam

@Kirill, buy with both hands if you can. Your income will qualify you for roughly 4 loans, so I'll be careful in analyzing the loans strategies. After that, start looking into seller financing, and subject to deals. Those will help you improve on your portfolio. Remember, there's a saying if you leverage too much and buy with nothing down, soon you'll have nothing left!!!

@Paul S

Where else can you buy an asset with someone else give you 80% of the costs, and you only come up with 20%?
You can't buy that with gold, silver or stocks!!!
Anyway, 1250/month for rent minus 40% expenses leave you $750 for deb service or paying the mortgage. That would be
$750 (rent minus expenses) - $567 (mortgage) = $183/month net positive cashflow.

Return calculated
You put $28000 (20%) and your return is $183/month x 12 =$2196/Year

$2196/$28000=7% return on a good property in CA. Also, things that are intangible, You get tax benefits of Depreciation, and Interest write off. Also, a cherry on a cake such as appreciation, and Amortization to pay down the loan and create equity. But also, who is really pay down your loan? Not you of course the tenants. Happy Investing - Tin

@Jeff Thompson,

in Sacramento, you should contact Reggie Lal, he's the lender up there as well!!!

I did a subject to deal and got the lead from craiglist. Currently working on a seller finance deal, in the middle of iron out the details, and I got the lead from Craigslist as well. So there are constantly opportunities, and they are out there!!!!

Martin CS
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I am having trouble organizing my daily, weekly, monthly, and yearly goals with regards to RE investing. I have a To Do list on my smart phone but I need something more and simple would be great.

Would be curious to know how you organize your goals. Do you use a paperbased system, pc, or smart phone? I researched Android apps but there's not much with regards to this matter.

Would be great if you could share templates if you use your PC? Eager to hear your ideas...

Martin
To get a good result, the effective way should be: SMART

Specific
Measurable
Attainable
Realistic
Time specific

Certainly, you break your goal down to very specific. For example, I will lose 10 lbs by the end of March 30, 2012 by eating healthy salad, and exercising 1 hour a day. These are very specific Vs, I'm going to lose weight.
It's very specific, losing 10 lbs
Measurable, you can track your weight and effort you put in
Attainable, you can lose weight vs you have to fly on the moon (can't attain)
Realistic: it's very possible
Time specific: By March 30,2012

Now Translate it into your daily goals and related to real estate. The most effective way is to write it down, post it in a mirror, so you can see it every day.
Also I don't do the To DO list: since it's an excuse for being lazy, and a mental blockage for things you feel like a drag on. I do the GET DONE LIST.
you feel much better when you write thing down on the Get DONE LIST. You feel you have more control and power. Hope this work for you!!!

Derek

Yellow letters do work, and I'm sending them out every week. Calls do come in and I do pick up the phone and make deals. what you do with them the calls will make or break you. If you're busy and not answer the calls then it's a waste of time and effort. But if you able to pick up the phone can make the deal, then it's great.

Second, You ever heard of the book called The Compound Effect by Darren Hardin, it's about the little things you do everyday that will make a difference. So, since sending 100 per month does not see result to you, but if you think about it, keep doing from time to time, will add to great result, then you add the leads that come in to your list and eventually you have your own list.

As of now,
Envelopes = .03 per envelope
Stamps = .45 per stamp
letters= .02 letter paper
Ink= .02 ink toner per page

Total costs: .62 per letter

If you're able to put away $62 for 100 letters, you'll get much ahead. Now if you can double that, you'll be much ahead !!!!

Jeff L:Thanks everyone. I've done a lot of digging (probably too much). It's just a bit overwhelming for us non-experts who do not not deal with this on a daily basis.

Jeff, if you read your mortgage note or if I'm correct you are allowed to transfer your name on title to a trust without the bank call the loan due. It's allowed by law.

checking

Jim,

9% is not bad as all compare to the hard money lender in our area. They charged 12% or 10% interest only for 8 years. Correct me if I'm wrong, I know banks are allowed to lend up to 4 properties with good credit and 6 months reserves on each property with steady job incomes. So if your credit is poor, it might be a factor.

Narbie,

Are you talking about rents cover mortgate or you are talking piti plus maintaining, vacancy, overhead as well?