All Forum Posts by: David Zheng

 "Correspondence" and "Grammar"  :p

gotta practice what you preach @Jay Hinrichs! lol 

 These are buy and holds. Commercial loans

my parents always taught me through the carrot and stick method. except I never got a carrot. so 0 emotions from me.

I'll do whatever it takes to get what I want and be where I need to be

So I'm going to go against the grain here. I used to use agents, but now I don't. I'll work with a selling agent if there is one but taking one middleman out always helps in terms of communication. I think agents are good if 1. you are a noob homebuyer/investor who doesn't have time or doesn't know anything about the buying process. 2. you are a seller who doesn't have time or know the process. 3. trying to invest out of state/or your area of expertise.

Once you familiarize yourself with the process, you can do what an agent does and sometimes better. No more scheduling through them, cutting out costs, miscommunications, etc.

personally, my last 6 deals have been without buying agents. I'll take my 2 page office depot sales contract to the seller, have them sign it, and let the title company do most of my legal legwork. I have my appraiser/inspectors/contractors run through the place and give their reports to my bank and bam. 2 week close.

As @Steve Vaughan mentioned, lifestyle inflation is a real thing. especially with me.

When I was first reading about real estate, I was like everyone else. Sure it would be nice to replace my current income and just live in the condo I had for free

3 years later and now I want a $2-4 million beach front property.

When I was 10, I wanted a Lamborghini, I bought one this year and now I want that, a Ferrari, and a cool electric car (i8?) LOL

I actually created a spreadsheet for myself with 6 varying levels of lifestyles.

my bare whatever life is around 40k/year
my standard life is around 72k
content life is 120k
>>Happy life (I think) is 360k

I also have an extreme luxury life (think private jet charters, multiple mansions, a yacht, steak dinner level eating every meal) at $900k

I'm totally going for the extreme luxury life, cause why not

I use credit cards for the points on everything. but I also pay off my balances every money

I think it depends. You might be really good at your own city and killing it. I don't necessarily think you need to branch out and hit other places, cause lets be honest there's probably going to be "you's" that know more and are killing it in THAT city.


I don't think focusing on a niche is a bad thing. also you get to stick to what you know and have an absolute advantage in those places.

However, if you enjoy learning and exploring other business ventures, it doesn't hurt to branch out. Personally money comes a lot easier if I focus on my area, but I see why people invest everywhere too.

get someone experienced on your side if you're going to dive that far.

Just read today California is trying to tax texting too. what is you doing cali...

regardless of whether you do it yourself or not, always account for it as If you're hiring it out. Same with management expenses. The point is one day, you'll want this to be passive, so make your numbers reflect that.

besides its nice to see extra cash in your account when you "don't expect it" ;)