All Forum Posts by: Hanbin Y.

Hello, I'm looking to buy my a property for primary home. Since I may relocate in 1-1.5 years, I'm considering an exit strategy as selling it in 1-1.5 years. Therefore, I want to give a lowball offer for more margin. But my agent said a low sale price now can affect the price when I sell it in 1-1.5 years. Instead, he proposed to offer with a higher price but let seller pay closing cost. What's your thoughts? Should I lowball or offer a higher price with seller-paid closing cost? Thanks!

@Account Closed Thanks for the advice. I looked up some articles. It seems 2nd lien is either earn it or lose it all. The thing is, my capital isn't big enough to spread into more than two 1st-position notes. For 2nd position, however, I can get 3-4 notes. Does this diversification (not really much) help a little? 

@Darren Eady Great answer! My capital isn't large enough though to start my own HML business. I'll talk to some local hard money lenders. Thanks for the advice.

Hello everyone, I was presented a couple of opportunities to invest as a private money lender. It's either new construction or fix&flip. The thing is, both put me as 2nd lien in the note. I heard that 2nd tend to be risky with more reward. But I have no experience in deals like this. What are things that I should watch out for? And what are some exit strategy if it's fix&flip? How active/passive is such investment?

Hello BPers, I have inherited a tenant who is late for rent. Now my PM starts the eviction process and charges me $750+move-out cost. The process will take 5-6 weeks plus 10-14 days. I asked the PM to offer cash for keys as the rent is only $450, not sure how that goes.

Now I would like to hear from local investors what is typical cost for the whole eviction process, and if you have any suggestions.

Thanks!

@Jay Y. Jay, let's discuss this in PM. Just sent you the request.

@Leslie Pappas Leslie, I'm not an accredited investor...yet. If things go right, I'll be one in 10 years! Will let you know then. LOL

@John Patton Thanks for your comment! I'll PM you for more details about Birmingham. Love to hear from experienced folks.

@Thomas S. I see what you're saying. Yes I'm considering selling it. But if I sell to a investor for 150k, will anyone buy into this? Just feel like it's a crappy investment with this price. And I know no homeowner will be interested in an occupied property...

@Thomas S. The thing is, it will cashflow positive if I refinance a less amount. And it may appreciate more in the future. Do you think it's good to hold on to something like that? And if I sell it, the portfolio that I purchase won't appreciate as much (at least historically).