All Forum Posts by: Caroline Widjaja

If I were you, try to get the renovation done ASAP within or less than the budget, no need to be fancy. Either you sell it quickly now or you rent it out. It is not good for Flippers when the market goes down. 

Done!

I always love of what Warren B's saying "Be Greedy when Others are Fearful". This is really true, but in real estate, you can't buy everywhere you want. Location is still important. As for stocks, I also want to jump in stock market right now. but one of my friend told me the BIG crash is not coming yet...and he also mentioned that China & Japan will be in BIG troubles. It got me thinking what kind of troubles that they have/hide from us that we still don't know at this point?

@Joseph Chan Honestly, there are some good & bad agents out there! It could be the selling agent has his/her own buyer (to get DOUBLE commissions) and tell the other buyer to match with your offer, so your offer basically won't be presented to the Seller. I don't know if you state allow Double Comms? My suggestion is to put whatever amount that you feel comfortable in paying and if you don't get it, just move on, no need to get emotional. Buying a property is always harder than selling it. Even if you put the highest, it doesn't mean your offer will get accepted. A good agent can tell the difference if the buyer's offer makes sense or not. Be prepare to make an offer as many as you can, just to get your ONE offer finally gets accepted. In my case, I went through at least 30 properties just to get 1 accepted offer, and I'm always happy with my decision. Thanks to the advanced technology now, you can easily "docusign" your offer in 1-2 mins!   

Hum, monthly cash flow is only $318.11 for $350K+ property??? 

YES, I will keep investing IF it meets my Cash Flow requirement. In the meantime, I'm trying to pool money from investors as much as I can now, to get the funding ready when I need it. I'm pretty sure there will be some good deals coming from "Overleverage" investors :)  

This is very true at this stage since the recession just get started. That's why CASH FLOW is very important so you will feel more secured even if there's no plan A & B. I'd like to hear more success stories from other BP members who have 100+ units (with a C-D class properties) with BRRRR method survived in the recession phase.

I invest for BOTH. Look for Appreciation in the West Coast and invest for Cash Flow in the mid-West. You will have a PERFECT world:) But if you have to choose one, Cash Flow is more priority. 

Honestly, I would suggest you to stay away since you're NEW to investing. You have to know the Rehab Costs & After Repair Value to make sure that the project is profitable to you. In my perspective, buying is much harder than selling. Please take time to analyze the deal before you move forward. Don't ever feel rush to buy. 

I would definitely stay away for any foundation issues in the property. It will cost a lot of money to fix. You can try to get 2-3 foundation specialists and compare. Beware of someone who gives you a VERY low quote among all of them.