All Forum Posts by: Chris LumLee

Hi,

I'll plan to stop by! Looking forward to meeting other local investors!

http://www.hawaiinewsnow.com/2018/10/05/market-you-now-need-earn-nearly-k-buy-home-Oahu/

This about sums it up.

Whether it be a stock, bond, or real estate correction, crash, or bear market...I'm building my cash reserve for all of my holding types. I'll still buy stocks/bonds or real estate as I have money but I'm also taking some money and putting it into reserves so I can buy stuff cheap when the time comes.

I have a friend who wanted to try to buy a $400,000 house from someone for less than half of that. I did tell him he was being a joker. BUT, I told him if he's intent that that's the offer he's going to make and that he wants that house, he better go knock on the door and talk to the owner directly instead of talking to the agent who actually did laugh in his face and stopped answering his calls. Point being, forget the middleman, go directly to the seller.

I have a property in Detroit. Like everyplace, there are pockets where you should and shouldn't be in (as stated by others here). My experience so far hasn't been bad. In fact, I'm looking for more.

I'm trying to find a good comprehensive one, too. But I find I have to go to multiple sites...which isn't entirely a bad thing. But sometimes there are definitely nuances that I'm trying to find my own answers to. I'll be following this.

No deal. Only because I like my vacancy, repair and capex percentages to be MUCH higher. I like to go like, at least 15% each. I'm sure that would come close if not entirely wipe out your cashflow.

I watch inspirational videos (fiction and non-fiction) on Youtube. Silly, I know. But it helps me. That and keeping spreadsheets.

Here in Hawaii that's serious business. It's one of those things that has to be disclosed. But in your case if it's a lasting problem, maybe a priest can do a blessing of the property. That usually works...had to do that a few times.

To make a plug for @Dean Harris, I bought a property from him a few months back and when you're buying from someone in another state, you can be weary, but I saw videos from Memphis Real Estate House on Youtube and that definitely made me feel like "yeah, he's legit" so I was more than happy to buy from him.