All Forum Posts by: Yinan Q.

Ok guys, I think I found it. I guess there was a bug, in my brain or in my eyes last night. Sorry about the confusion.

I started buy and hold and just started flipping. My long term goal is still buy and hold. To me flipping is just another way to make money so that I can invest in my buy and hold. 

Flipping is a job while buy and hold is passive.

@Michael S., I agree with you. I should have done a better job reviewing my draft before posting. Sometimes I notice I used a wrong word right after posting but could edit or update. 

The update/edit button is missing from my posts. I cannot update my posts once I hit the "post topic" button. 

Anyone else experiencing the same issue?

@Lian Shi, everything else the same, I prefer newer houses than older ones.

Older homes normally requires more maintenance, thinking about aluminum wires, metal pipes etc. Older homes are normally less energy efficient, thinking about older windows, less efficient insulation. 

Also you should check if the particular house is a "historical building". Many local governments have special guidelines for these historical buildings, which makes renovation much more difficult.

Figure out how much it cost to get rid of the mold and to fix the cause of mold (leak window, pipe, roof, or whatever). You can use that to negotiate you purchase price. Then you can tell if it's a deal killer or not.

Definitely check out inventory and DOM, this gives you an idea how fast or slow the market is and help estimate your holding time.

Also pay special attention to other flips in the area. They are better comps for you in terms of both ARV and DOM.

@Chris Parker, welcome to BP! Lake Stevens is beautiful. I am also focusing on rental properties and believe it's the best way to financial freedom.

@Joel Owens and @Account Closed, thank you so much for your replies. It's great to hear from a successful CRE broker and a seasoned investor. What you shared is valuable information probably couldn't be found in any books, at least not in the RE books I've read so far. I really appreciate you taking the time to answer my questions.

Right now those multiple million dollar deals are beyond my capacity. But I am working my way to get there. It will take some time, but I know I will get there.

Thank you @Account Closed for sharing your experience. What you said makes a lot of sense.

So what is your suggestion to new guys that want to get into the commercial RE game? Be friend with brokers and maybe doing some syndication deals with them, then gradually becomes one of their favorite investors?