All Forum Posts by: Aaron Kim

I have been interested in real estate my whole life, but was always too scared to start my own journey.

Last week I came to realize that the shift in the market with the interest rates going up may be the perfect time for me.

I have been listening to 2-3 podcasts a day and I really enjoyed the episode with Pace Morby, who used creative financing to get 300 doors.

Since then I started to contact some agents in Las Vegas and they sent me a couple interesting deals that caught my attention.

I found a 9 unit that's only collecting $3,500 in rent with one vacant unit and one unit used by the property manager.

Projected Market rent in the area is around $9,000 for the 9 units with a mix of 1 bed 1 bath and 2 bed 1 baths.

with the Projected market rent the deal would be well within the 1% rule for income properties.

I already asked if the seller is interested in seller financing, but she is not open to the idea.

What is the best way to reach out to the seller to discuss if seller financing is beneficial for her or not?

Also my main problem with investing at the moment is that I do not have a regular job, and my credit score is in the mid 500's.

I have a couple friends that I can bring into the deal that have good credit with high paying jobs.

What's the best course of action here? would really appreciate any input and help for new investor just starting out.

I understand that I can start with cheaper investments, but I think if the numbers make sense I can really make this deal happen.

Thanks in advance!

I have been interested in real estate my whole life, but was always too scared to start my own journey.

Last week I came to realize that the shift in the market with the interest rates going up may be the perfect time for me.

I have been listening to 2-3 podcasts a day and I really enjoyed the episode with Pace Morby, who used creative financing to get 300 doors.

Since then I started to contact some agents in Las Vegas and they sent me a couple interesting deals that caught my attention.

I found a 9 unit that's only collecting $3,500 in rent with one vacant unit and one unit used by the property manager.

Projected Market rent in the area is around $9,000 for the 9 units with a mix of 1 bed 1 bath and 2 bed 1 baths.

with the Projected market rent the deal would be well within the 1% rule for income properties.

I already asked if the seller is interested in seller financing, but she is not open to the idea.

What is the best way to reach out to the seller to discuss if seller financing is beneficial for her or not?

Also my main problem with investing at the moment is that I do not have a regular job, and my credit score is in the mid 500's.

I have a couple friends that I can bring into the deal that have good credit with high paying jobs.

What's the best course of action here? would really appreciate any input and help for new investor just starting out.

I understand that I can start with cheaper investments, but I think if the numbers make sense I can really make this deal happen.

Thanks in advance!

Thanks for your reply guys.

The type of lifestyle I want is a lifestyle where I can retire early, by working twice as hard to achieve what I dream of.

My biggest goal and ambition is to build up a real estate empire, using house hacking and creating passive income properties.

The problem I see with going to school is that I will be losing time on investments.

It does feel right for me to go back to school and complete my BA, but there is a voice at the back of my head telling me to pursue my real estate passion.

I think I can manage to be an agent while going to school as well. I started looking for real estate investing clubs and entrepreneurship programs on campus to join and network in as well.

Over all it feels like going to school and investing in real estate after seems like the safest route to my goals. 

Hey BP!

My name is Aaron Kim, and I currently live near Los Angeles, California.

The advice I am seeking is not really related to real estates, but with a dilemma I am facing.

I am currently 24 years old and just got accepted to attend UCSB and UCI next fall as a transfer.

I am at a point in life where I see my high school and college friends all graduating and starting their 

"real world job". 

My dilemma starts few months back, when I discovered and fell in love with the world of 

Real Estate. 

Ever since then, I started reading, looked for new content, and researched like something has 

possessed me.

In a way, Real Estates sparked a light of ambition in my heart and ignited my passion to

focus and learn about something I can enjoy doing.

With the momentum I gained from wanting to study real estate, I absolutely dominated all my 

classes in school this semester.

I feel like going to school and completing my undergraduate in actuarial science to become an

actuary is the safest route to take, but there is a voice in the back of my mind telling me to 

start working as an agent.

I have completed all of my real estate classes for the license test, and will be taking my 

test shortly.

Although it may seem like a safer option, going to school means I will not be able to invest or create 

any income for myself for 2-3 years.

As well as accumulating what we know of as "bad debt" such as student loans.

There are many pros and cons factored into both sides of the argument, and I just wanted some 

advice from Realtors, and anyone on the BP forum.

Thank you for your precious time!