All Forum Posts by: Cameron Lam

Great story! This was inspiring. Thanks for sharing

Thanks for this post @Cameron Lam! Honestly was a great read!

A few questions I had in my head as reading...

1.) Is your $100K cash flow value after debt service? (I assume yes, but I've read several articles and realize at the end, they didn't mention the $1800 mortgage payment lol).

2.) I notice that a larger share of your portfolio is SFH so for those I assume there are no utilities in your name. What about for your duplexes+? In my area, and lot of 2+ unit places have been converted, so utilities are sometimes shared.

3.) This is a legal-rookie question, but how do you handle the payment to your investment partners via the cashflow. As I understand, if a partner takes money out of the LLC (like a payment from you from your "profits") then that is considered a distribution and it must be matched by the other partner, or be considered a guaranteed payment. Trust me, I'm not well versed in this topic, but I haven't found a great explanation on how to make that imbalanced (no money down) partnership work from a tax perspective. Any comments you have on it would be awesome!

@Cameron Lam Amazing! This is both inspirational and super informational. I'll definitely be revisiting this post over and over again. Thanks for sharing, man! It's people like you and posts like this that makes BP so valuable. And, congrats on your speedy success. If you were able to do all of that in 2 years, sky's the limit for you in the years to come.

@Cameron Lam thank you so much for this post! As a complete and total Newbie, this was incredibly inspiring!! I just wrote my 5 year plan and this does nothing but excite me for the possibilities!

@Cameron Lam

Good post, very inspiring. I'm wondering how you handle turnover inspections for the common areas at the houses you rent out room by room.

@Cameron Lam

I was almost bought my first house based on calculating Room by room rent but my family discourage me to buy 100+ years old house with 4 br/2bathroom in downtown close to university and hospital, convinced me that nobody like to share bathrooms now a days specially after Covid. Wondering if your pads have shared bathroom and have any trouble finding students based on these scenario?

My cashflow is a little over $175k for my portfolio annually, after paying debt services + maintenance. It took me around 4 years to make this happen. 

In 2017, I was finally able to feel comfortable "retiring." I left teaching for a few months, and returned. Although I continue to work while maintaining my real portfolio, it is very nice not having to work and truly choosing the schools I want to teach at. 

I'm also a licensed Realtor - and - it nice not to change "buyers- and - sellers." Instead, I am word of mouth, and refer folks to other agents 90% of time. 

Now, I beginning to focus on investing in small business (for a percentage of ownership) for additional passive income, while believing in the mission, vision and goals of the businesses. 

@Cameron Lam What an incredible story! Thank you posting with such great detail. I am a noobie here in Mesa, AZ and I actually just submitted an offer on my first property located in Mesa today! Reading your story was such an inspiration and has motivated me even more. Cheers!

- Ken

@Cameron Lam Love hearing about your success. One thing I really appreciated is how your financial freedom actually encouraged you to do better work at your day job. Congrats on your success so far.