All Forum Posts by: Casity Kao

This is the point Terry.  Your posts seem to come off in a way that you are saying people should be more like you.  Do you enjoy real estate?

@Rachel Brewster Not sure if you wanted suggestions but I would try to step back and look really big picture if your companys wildest dreams came true what would you say they represent.  We also looked at the companies we felt embodied the culture we wanted and noticed alot of times their mission statement was totally different than what we thought. Ultimately we decided we wanted our work culture to be as much about enjoying the journey as much as the success because life is too short.

@Alireza Towhidi That is an obstacle for sure. Are your plans to stay in country?  You can still be involved in real estate investing if not real estate purchasing.  I knew a woman in NYC who started an AirBNB business renting out spare rooms in her apartment then as the business grew she upgraded apartments and now owns units all over world.  Anybody can rent maybe explore that model.

@Alireza Towhidi

Why can't you get a loan?  If you find a deal somebody will fund it and 20k is more than enough to get started, if you use is wisely.  Go to your local REIAs, see if you can partner, talk to hard money lenders, portfolio lenders, private lenders anything.  Does your father have good credit to cosign?

@Terry Lao Is this a brag post?  I find this post sad, not motivating.  I will give you a story because I think it's funny but my husband had a bachelor pad on the beach on Lake Michigan for his first home that he house hacked with a roommate.  The roommate actually paid his entire mortgage so he lived for free.  When he got a promotion from his job he did not have a down payment but he wanted to grow his income so he sacrificed by renting out his room doubling his rental income and then packed his bags for the relocation.  In order to save up the downpayment he lived in a 8 x 8 room in a trailer park he shared with a 65 year old.  Being as that he was still single, he used to joke around with people he lived with his mom rather than tell the girls he met at the bar, that he lived in a trailer park with a senior citizen.  How often does this happen right? He had to sacrifice the social life in the short term, but he got another house and another every time he got promoted. 

@Jason Porras  Have the bank do it through a portfolio loan.  If your mortgage broker does not work with a lot of investors you need to go to someone else.

@Jake Hartman  You can do one of two things.  You can roll it into a Solo 401k and take out a loan up to 50,000 or 50% of the balance of the retirement account whichever is less.  There are certain terms and rates on the loan but then you can turn around and use that for the downpayment and get bank financing.  The other option is if her new employer has a 401k, see if they allow a 401k loan.  You can roll the money in from her past employer into her new employers and takeout a 401k loan which she should be able to takeup a percentage of all her funds she is vested in.  Normally that number is around 50%.  All the funds she contributes to her new employers 401k from the old one she will be fully vested in.  The rates on 401k loans are very low and normally she will pay them directly from her payroll.  If anybody ever tells you no, ask the question a different way.  I prefer to ask how can I?    You can also do non-recourse loan off of a Solo 401k or self directed but this is not an ideal option as you lose tax benefits.

@Brian Horwitz  You are likely not going to get the work done, or just enough to get you to stop complaining for a few weeks.  You need to speak with a lawyer to see  if it's viable to bring action against the contractor.  If he has a license you should be able to bring it in front of a judge and win.  Never pay a contractor more than materials and we actually only pay 10% down.  If the material cost is significant we tell the contractor we will pay them on the start of first day, or they can put us in touch with their supplier and we will pay the supplier directly.  Same goes for finishing the job, if a contractor says they are done, do not pay until they are done or they are going to skip all the details or fail to cleanup.  I pay my contractors once a week, and they have one chance to get paid.  If I show up to the site and they are 95% done, I give them 50% of the pay.  You need to have money owed to them at all time to motivate them to stay on task and finish the job.  The first time a contractor works with you is the best job they will ever do in most cases so if they poor work the first time around then don't expect it to get better.

“Take joy in what we build and create, what we teach and believe."

We invest in real estate because we enjoy improving the homes in our community. We strive to help buyers, sellers and renters make one of the most important financial decisions in their life all while creating assets that we liken to art, while others validate our vision through financial compensation. We are creating a brand and a legacy that our kids, families, friends and community can be proud of while also shaping a lifestyle that allows us to pursue the things we enjoy most with those we love most.

@Molly MacGregor YouTube.  Hard to type an explanation, easier to view an explanation.