All Forum Posts by: Eder Kim

Hey! I'm from CA too and I'm also new to BP too.

I was looking at the prices here around where I live and yes the prices here doesn't make any sense! The single families are so overpriced! And you look at the pics and wow. So trashy! You wonder how people even buy those kind of properties. Not only that, how do you even make a profit when the asking price is already so high? There's not much room for flipping neither wholesaling!

And in my case, I wasn't even approved for the FHA. You should check it out tho. Owner occupy is a way to go.

And since you have family in Texas, you should really take in consideration checking out the market there!

Good luck!

Hello, I have a three bedroom condo. About 1,700sq ft. First floor is hardwood floor and third is carpet. Was wondering how much would it cost me to upgrade doing this: - new paint through out - new appliances (refrigerator, range, stove, dishwasher, washer/dryer stacked) - new carpet - two and half baths remodel - kitchen cabinets new paint and new handles - new blinds through out The rent around the area is about $2600. My questions are: - how much would I spend if I do all that? - how much more would I be able to get after doing all the renovation? If I am on the wrong forum, will you please move me? Thanks in advance!

@Sebastia H. 

Thank you for your post!

Thank you all for your insights!

I look forward to this new adventure!

@Paul Timmins

Hello Paul! Thanks for the advice! But I didn't understand when you said that I don't need to own the property to control it. Can you in a few words explain it to me? Or is there a book I can read about it?

Thank you all for your insights!

I look forward to this new adventure!

@Paul Timmins

Hello Paul! Thanks for the advice! But I didn't understand when you said that I don't need to own the property to control it. Can you in a few words explain it to me? Or is there a book I can read about it?

Hello everyone! My name is Eder and I am from Glendale, CA. After reading and listening to some real estate books I have decided I want to invest in real estate. So I move some sticks here and there and I got the phone numbers of some agents and brokers. I called them and without any luck I pretty much got shut down here and there. Maybe it's the lack of experience and/or lack of money. I was hoping I could find a mentor. Someone that could help me find a way. All these people I have called they are all millionaires. And instead of teaching new investors I think they would rather try to make more money for themselves. Oh well. I don't have much to give down payment now anyway. And I can't prove my income because I just got a steady job. So before I didn't have any tax return. I tried contacting FHA but because of this reasons I didn't get approved. At least now. So my plan for start investing in real estate is this. First, learn as much as I can for about a year. Then buy my first property, probably a single family. Rent it out. And refinance. Then after a little while, raise money and buy a second one. Rent it out and refinance. In the meantime, try to payoff my in laws house as soon as possible, move after like 5-6 years and rent it out. And just keep moving like that. So my question is: am I dreaming too high? Am I doing all wrong? Can someone show me a way I could go? I have a full time job, married with two little kids. I have my hands full all the time so I don't have much free time to go to seminars or stuff like that. My wife and I work about 11 hours a day, 5-6 days a week. And we make very little money. That is why I try to read as much as I can when I can. Is financial freedom still a tangible dream for us?