All Forum Posts by: Branden Yang

I've seen property in Washington worth 600-700k while the same property in Texas would be worth in 200-300 with the same exact rents. Don't buy houses, you can literally get 12-24 units with 500k and get even more appreciation. Why waste time on a house? You've gotta think bigger, not more. If I had a million dollars, why buy mansions that only rent out for 10k when you can buy apartments that rent out for 40-60k? I've seen ROI at 40-50% if you knew how to buy a bulk of properties. If you buy one property, what if no one rents it out? Now you're wasting money. I'm a huge critic against buying houses UNLESS you're flipping it. I've seen properties worth 100-200k when you could've just put 5% down for hard money loans and put 100-200k worth of renovations and easily make 500k. Properties are easy to find in the MLS, I literally see deals that I would've invested if I had money to do it (I'm trying to get partners that'll put downpayments, etc).

500k is like easily 12 units. You just need the right people who can manage your properties. I could easily find you a 550k property with 7BR/3BA that's in a good area. I've personally seen 10% on most deals. I've seen 1% per month on apartments, that's like 100k in rental income each year on a million dollar property or more. I'll find you a property for free, just contact me for your criteria.

Secondly, don't pay all-cash for properties, you can get 5.5 million dollars worth of properties with that 550k alone. If the interest rates doesn't make sense with the property, move to another property.

I'll find you a property for free that's easier for you, just contact me for your criteria.

We have more people turning 18 minus death rates than house units being created. We need more houses, more apartments. The reason why 2008 house market crashed was because lenders weren't qualifying people properly, so when people bought property, they couldn't even afford interest rates. If 2022 crashes, that's probably because of the government, but I've never seen a market crash because of inflation.

Well there's a few things you can do. Buy a better property, or get a better lender with better terms. I'm seeing properties that cashflow $800 with an 8% interest rates. Or I would just do a house-hack. Depending on the property, sometimes people will just lend you the property and take a down payment. They can act as bank until you can get a re-finance. Ask them if they want to mortgage their home to you, or lend their home to you. You don't need credit unions to buy the properties, you just need to know what the seller needs and see if you can do it without a lender.

I recommend to get a conventional lender when it's convenient, otherwise I would go straight for seller-finance or sub-to loans. Think of this, you can get a 2-3% interest rate to a buyer rather than a 4.5-5% interest rates from a lender.

I don't recommend investing in that city. You can just invest in Washington and get $1.6k/month for the same property. Message me for information.

Require the tenant to pay for fees, otherwise just get another tenant because tenants who miss appointments will miss payments. If another tenant does it again, fire the property manager and get another one.

You can't get lenders to fund, you can get partners that are lenders, but banks usually don't want to give more than 80% of the appraised value of a house or a property. For first time flipper on hard money loaner, they'll usually look at your credit score if you're BRRRR (Buy, renovate, rent, refinance, repeat), they'll look at the deal if it's worth a flip, and look at the market. Today's market, it would be hard to refinance because of interest rates and DTI, unless your cashflow is absolutely good.

Offer her the moving fees, and offer to pay the first month of rent on the apartment she chooses. Somehow she can't afford $1000, but she can afford a car and a laptop. Don't compromise your rents of course, or else the other tenant will hear about it, and decide to not pay.

I don't know your property, if I knew, I could easily adjust how much rent you'll get. You can't have your rents lower than the market, but your rental properties need to have quality. I'm looking around your area and law, I'm assuming she has a 2 year or longer lease for $500. You should've charged a seller's credit (if you didn't) for evicting the tenant when you purchased the property.

Solution:

Offer her moving fees, $500 and a security deposit in the first month, or eviction and no money next month, put the eviction notice as soon as possible.

This is a lesson to never have 2-year leases, maybe 1-year leases, but never longer.

Just put the eviction, who cares if she's moving in August, the eviction is on September, so if she was right, then it wouldn't matter.

You can get $1500 if you get section 8 housing. I would recommend a section 8 housing application to the government, and start screening tenants. If you ever watched BP, you would know that section 8 tenants are profitable. The government has requirements that you need to follow, but you'll follow them anyways since you don't want to be a slum lord. Tenants pay like $100 while you get to collect $1500 from the government, even if the tenant doesn't pay rent, the government still pays rent for them. Recommend her to get section 8 housing.

If anything you're losing money not getting section 8, it's not risky if you find great tenants. It's like rich people, rich people aren't evil, there's always a variety of good or bad people, whether they are rich or homeless, same with section 8.

Great tenants = almost no maintenance.

 Whichever is easy. I've found a deal currently, but I'm struggling to get a partner. If I had a partner with a million dollars. I would easily turn that into 4-5 million dollars worth of assets. I don't, so I recommend getting a partner unless you can do a deal by yourself.

 It's too late, someone already got the deal. Probably would've been 70k easily with only like 5-10k worth of renovations. Been trying to get a partner or someone to get this deal. They only needed to put down 3.5% or 10% which is only like 9-10k + renovations. I still see other deals, but I can't find anyone to wholesale to. It's pretty easy to find these deals on Zillow alone. I'm sad I couldn't find anyone who'll want these deals. :(

Oh okay! I see! I'm in WA, and I found like 4-5 deals in a lot of out-of-state cities. I found like 3-4 adjacent deals in my area, the ones with 50% ARV costs with face value, but not including structural damages though since I don't have appraisals, I would just do wholesaling for free just for the experience. I don't usually do cold-calling because there's always a deal on the market that's underpriced. I found a deal that was 1/12th of the comp price, and it would've been a 20-30% ARV cost, maybe 40%. Rents would've been at a 5-10% cap because of the interest rates.

But, if I could get a partner, that's better than getting a $100k check because I want to make millions from future deals. I'm trying to find partners before I turn 18.