All Forum Posts by: Wen Guo

Dear BP people I'll need your help on this- I just purchased a rental, the tenant came with it. He works in hospital as nurse and seems to be a nice guy, he does has a bankruptcy history (home got foreclosed a few years ago). When this very first month rent is due, he told me his bank account got frozen just the day before, he has half of the rent in cash for me, and the other half as a check for me to deposit later when the bank issue gets resolved. What should I do, should I trust him? Should I charge late fee? Should I be worrying? Big thanks everyone in advance!!!

Dear BP people I'll need your help on this- I just purchased a rental, the tenant came with it. He works in hospital as nurse and seems to be a nice guy, he does has a bankruptcy history (home got foreclosed a few years ago). When this very first month rent is due, he told me his bank account got frozen just the day before, he has half of the rent in cash for me, and the other half as a check for me to deposit later when the bank issue gets resolved. What should I do, should I trust him? Should I charge late fee? Should I be worrying? Big thanks everyone in advance!!!

Wes Blackwell just saw your post - I am currently looking for cash flow positive deals in Sacramento, would you like to connect and share your info? I'm purely investing and not hacking though.

Getting things started with some experience, but not enough. Look for connection and mentor.

Hello all, I have been looking around for a good market to tap in but I don't see I'll invest anywhere within my driving distance, as the number doesn't make sense. So if I want to invest remotely, for example in Dallas (while I'm in California), should I do flips and fly down occasionally to watch over the contractors, or should I buy and hold multi units with property manager? What do you recommend?

Big thanks everyone! It definitely sounds like a city that needs lots of local knowledge. Do you guys have any good people to recommend so I can follow up on a couple more listings?

Hi everyone, I'm from California and fairly new to the Chicago market. But I saw some incredible deals there (comparing to the Bay Area), for example, a 4 plex getting $2400+/month would ask for only 55k. I do know it's 100yr+ building and is selling "as is". But you get your money back in a few years even if it's all cash.. is it too good to be true or is there something I should know about? The case link https://www.redfin.com/IL/Chicago/6732-S-Lowe-Ave-60621/home/13930684 there are tons of other deals like this too.

My parents would like to invest on a property that they can move in in 5-10 years later, meanwhile it could be used as a rental. They are willing to put down as much as 500k, and hopefully find something around Peninsula or South Bay. Half a year has gone by and we couldn't find anything for them, not SFR, not multi-unit... any suggestion on strategy? Should we look some where else first and come back in a few years? Or should we wait till the election is done and hope for the price to drop?