All Forum Posts by: Zach Liu

I would say if your lost is minimum, then move on. There's no reason to dwell on a lost deal because there are always good deals out there. But if you really want a legal solution, the best way is to ask a lawyer. With the contract in hand I am sure there should be something you can do. But I am not sure it will worth the effort. 

Another good thing about having a license is you will get to know a lot of people in the industry and some of them will help your investment for sure.

I think the question you have is very local. But I believe if you contact building and Zoning Department in your area, you will get all these answers.

Congratulations, I have a closing on the same day!

For taking out equity, it will be hard in short-term, so maybe you will wait for several years when it makes sense. The only way to do it quickly is: 1, you buy with high discount, 2, you do some rehab to increase rent/value of the property. In either case, you have a chance to get a much higher appraisal and you may get your equity out for another deal.

Try cash for keys, aka pay him to leave. If that saves you money, then take the loss and move on. Your future good tenants will help recover your loss. 

If it does not work, find a good lawyer. 

Learn the lesson too.

Good luck.

If you are doing SFR, Buford/Dacula/Lawrenceville is a good area in general. In the last decade Gwinnett County is leading population and employment growth in Atlanta Metro, a lot of people from other states are moving there. The schools are very attractive too.

The market is competitive though so it is a little hard to get good cash flow now. I bought my first single family rental in that area, and it is working ok. Because most homes are generally new, expense ratio should be low. I am starting to get 0 maintenance for my rental, but I would not count on that to last. I feel my property manager is just sitting there and collect her money while I collect mine:)

@Dr. Scott Benjamin

 Welcome to BP and the book looks really interesting. Hope we can hear you in a future podcast too!

@Jordan Knight

 Welcome to BP and RE investment. I went to Uconn and I still live in Vernon, CT some time every month, love the state!

I haven't thought about investing in CT though because of worrying about high tax, utility, endless snow storms, and also more importantly the state is losing population and growing older and older every year. But I am sure there are still opportunities because the state is so fragmented and actually I see new apartment constructions happening. 

Good luck with the new business!

@Nick AlvarezWelcome to BP!

I love Orange County, such a beautiful place to live. But I would say don't focus on one county to start with. Look around and see where the best market is around you.

Make sure you and your wife are on the same page, and don't let others affect your decisions. Start slowly and get the snow ball going. Big rewards are ahead of you!

Good luck.