All Forum Posts by: Fei Guo

I'm in Seattle so home prices here are quite high.. I have been told it is usually start from $5,000. But I have seen people go for half of that. Try figure out how much time and effort you spend on the deal and go from there?

Title company? You can buy farm list from them. Ask for absentee owners. It's very affordable.

Down payment on investment property is usually 20% or more. So how much you need to save depends on your target market. I would save up more than 1.5* the down payment I need to put.

It's $400-ish investment just filling out some papers... Are you comfortable doing that? I think you can always draft a simple agreement with your partner, so that both of you have a clear guideline and expectations. This way, you can use that money to do marketing first. After you have done a few deals and feel fully committed, set up a LLC so it is easier for you and your partner to split profit.

Agree! Use other people's money ;)

I don't have enough space to upgrade to ios7 yet.. And my biggerpockets app keeps shouting down.. Oh no..

$6,000 passive income in 3 years is quite ambitious! Are you doing investment full time? I think the best way is to do wholesale and flip, make some cash and invest more. Say you have $400 cash flow per unit, you need about 15 to reach your goal ;) and that's quite a portfolio for a beginner!

Think about the basics of investment and your own risk tolerance - listen to your guts and your brian, in case you forgot to.

That's awesome!

Originally posted by Zach Schwarzmiller:

Fei,

I'd highly recommend First American Title & Escrow. I've used several other title companies and unless it's a seller who is requiring me to go with another I will keep using FA. I've always had worse experiences with other escrow and title companies. FA has been great throughout other states as well.

Hi Zach, is there a key contact person you always go to? Thx!