All Forum Posts by: Tony Lee

Hello BP family,

My partner and I are currently looking into building couple 100sqft cabins/trailers on a 20 acres of land in Atlanta GA, and would need help/insights. There are only Electric, Septic tank available on the land. Spoke with the Realtor and there are no restrictions on the property.

What are the steps I need to take into a consideration before making offer on a land? 

Where/How should I start? 

Any one know good builders that can build 100 sqft trailer?

Thank you so much for all your help and insights!

 Make sure you have enough cash in reserve, like instead of 10% cash in reserve try aim for 30%.

 You're letting your emotion interfere your judgement. Change the lock asap! Do not let her in, when she contact you make sure she has a cashier check in hands. Then find a Property Manager to deal with her for 1 year. 

I made the exactly mistake back in 2018. Best of luck!

Im in GA, but more than welcome to connect via Zoom or Team

Stay away from those lenders. Look into Prime Lending or local lenders instead, and always rent at 1% purchase price

Good luck!

 Welcome to RE world where you will make a lot of mistakes and become an expert at it! Don't need to be nervous! I was where you were 4 years ago, now still going hard at the same time try not crash during this upcoming Recession. Haha! I have couple recommendations that worked for me, might not work for you. But feel free to follow or use it later down the road if you like. 

1) Apply for FHA since you quit your job. FHA will finance up to 4 units as long as you live in one.

2) Find a partner and start an LLC

3) Find lender that offer DSCR. It's very simple, or you can look it up on Google.

4) Find HML.

Hope these would help you start :)

 And I believe everyone is waiting for that, not only us haha

Thanks you all for the advice! I'm thinking the same too, and still want to acquire more but too afraid of the huge recession coming our way. I know others would think the same as us, waiting for a huge opportunity like 2008.

Hello BP members,

As we are seeing RECESSION is coming, expecting in 2023. What would you do in this situation as an investors? Do you continue to hold your properties or sale and get money out and invest somewhere else, like gold, silver or bonds?

Thank you for all feedback1

Hi all BP members,

Just an out of thought question. How Working Remotely Will Impact the Future of Real Estate? Such as Commerical Property or Office for Lease Commercial building.

Please feel free to comment on here. Just out of thought question.

Thank you