All Forum Posts by: Andrew Reich

Does anyone know if this list is current to date?  

Wow, Michael, very informative and very well thought-out.  Thank you.

Once again, a hearty THANK YOU to everyone who has answered this post and given me wonderful perspective.  

Dear ALL, Thank you so much for all of this thoughtful advice.  I'm reading each one carefully and there is a lot of important and helpful information here.  I am touched by what a great response I received from all of you professionals in the field.  THANK YOU!.  I'll keep listening to the podcasts and reading and make some moves soon!

Hi there. Whilst I'm a newbie to real estate, i'm no newbie to business.  At 26 i started my own company (in China) and recently sold it for millions.   Now I want to create passive income and I have created a strong plan to buy and hold in 2nd tier US cities such as Pittsburgh, Cleveland, and others.  

In short my strategy is to buy multi-unit places in up and coming areas, often near good universities (ones that have a strong expansion plan), do some fixing up (but not tear-downs), and then rent out via management companies (as best possible).  I will not use too much of my own funds.  I will leverage the money on I have in my own house in LA and in investment accounts to get lines of credit.  

I've done lots of research, created a financial model in excel, I have the cash, and I'm ready to go.  I know exactly what I want to do and how I'm going to do it.  

BUT, in nearly every BP podcast I listen to these days it seems like the guys are talking of some approaching "crash" of the real estate market.  Should I be nervous that I'm just about to jump head first into this?  Should I wait?  What actions should I take to hedge my strategy, if any?

I sincerely apologize if this topic as been covered already, and ask that you point me to the already covered topic.