All Forum Posts by: Wilson Pe

I came by an interesting article about people who went from finance to tech

http://entrepreneursky.com/financetotech/

Was wondering if any of you BPers came from finance or tech? What made you do the switch?

There's a lot of blog and articles that explain the process of passing the contractor onto an investor and receiving payments etc., but what is the process of getting the initial contract from the seller to have the rights to pass onto an investor? How should this initial contract be written? Since, your not actually putting much money into it, I would assume that no loan is needed. Please correct me if i'm wrong.

In other words, it's much easier to build in Oregon? I actually have an uncle that invest in portland housing, but I don't think he builds at all. He owns like 8 properties and drives up from LA from time to time.

I'm pretty new to the real estate game so I have no clue. The more I read about it the more confused I am, but that's a good thing in my opinion because I'm learning. From this thread though, I've probably concluded that RE development is extremely difficult and I should be starting somewhere on the edges of rehab.

Thanks again for the informative reply. He also recommended that I start flipping houses instead.

Thanks everyone for the reply. I managed to grab coffee with a local developer today and to be honest he was quite discouraging. He kept insisting that developing isn't the way to go now because of how hard it is to get loans and the returns can take years. Nevertheless, I was able to gain some insights on how the whole process works. I will continue looking into it. Thanks again everyone.

What's the best way to learn RE development without actually going out and buying a piece of land then praying that you can find a good team to build a house on? I talked to a few RE investors and all of them told me the same thing, go out there buy a land and get your hands dirty.

Thanks all

Hey everyone,

I've been doing international marketing for businesses and individuals who wants to expand their network to China for a long time. Recently, I was approached by a real estate agent that sold high end homes based in CA that wanted to sell his listings to people who lived in China. At first this confused me a bit because I did not understand why he would want to sell his houses to somebody that doesn't even live in the USA. Nevertheless, I accepted the marketing gig since all that I was concerned about was the marketing aspect. I finally realize that the reason he did this is because people in China have a lot of cash due to the real estate bubble that hit over there. Many of these people are sending their kids over to the USA for education and are actively seeking for housing over here. I ended up helping him by joining tons of private real estate groups and forums which allowed him to close a few deals. Because of this, I got interested in real estate myself and that's why I joined up with BP!

After searching for a loan for quite some time I've finally managed to get in contact with a few private seller who's willing to give me a private loan with a minimum downpay. Since this will be a direct connection between me and the private seller what interest should I expect on the loan, or better question what is a reasonable private loan interest I should be seeking? The next advice I would need is, what kind of professional should I get involved in with closing the deal? Should I hire real estate attorneys or seek assistance from agents? Any tips and advice would be great. Thanks BP!!!

I'm still really new to this real estate game and trying to soak up as much knowledge as possible. Where do you guys usually find your contractors? For example if i bought a worn down house and want to change the windows maybe countertop or garage door then paint it myself where would I search for a good reliable contractor? Does anyone have any resources for seeing the average prices for each job like for example a window change?