All Forum Posts by: Fong Xiong

Quote from @Carlo DiCarlo:

Fong,

Welcome to the community. If you've ever considered investing in Canada there are many benefits! Your dollar also goes alot further here.

Reach out if you are interested in chatting more. We have lots of opportunities available for investors of all different types from flips all the way to subdivision development where you can be a part owner of a subdivision and eventually develop strong cashflow

I'll certainly remember that, Carlo! However, at this moment, I still
need to gain experience in my current location. Once I become more
seasoned, I'll certainly be open to considering that idea!

Quote from @Ran Iarovich:

Welcome @Fong Xiong to the community. Squeeze as much information out of it but make sure to help others once your life starts reacting to the knowledge. Evolve yourself into a student and eventually a master that keeps the future generation going. Your strong work ethic and passion for the long term make me believe that you're going to flourish in this community!

Thank you for your kind words! My philosophy regarding success has always
revolved around the idea of it being a result of teamwork. I consider
myself a perpetual student in life because knowledge is boundless, and
there is an abundance to discover. While real estate investing is currently
overwhelming me due to the multitude of knowledge and intricate strategies
involved, it's precisely these complexities that make the journey all
the more exciting.

Thank you everyone for the warm welcome! If you ever need any form of assistance, please don't hesitate to reach out to me! I'm more than willing to offer my assistance free! Would love to learn from from your expertise!

Quote from @Jake Andronico:

@Fong Xiong

Inspiring post. Welcome to BP!! 

I'm just over the hill in Reno, NV, but visit the Sac area often. Reach out anytime and would love to help anyway I can. 

You're in the right spot!

Most definitely! I will reach out! Would love to connect!

Quote from @Sloane Kraftsow:

Welcome to the BP community! This site is an incredible platform that has numerous resources so definitely take advantage of it all. I'd love to get you started with your first rental property.

Would love to connect.

It most definitely is, learning everyday from the resources the BP community has to offer. I love the idea of that! I'll send you a message!

Thank you for the warm welcome! 

Hi BP Community,

Although I've joined BP for a few weeks now, I haven't gotten a chance to do an intro. So a little about myself and background, my name is Fong and I call Yuba City home, though you'll often find me in Marysville due to work commitments. I'm a first-generation Asian American of Hmong descent, and my journey has been shaped by my family's dedication to our oriental supermarket business.

With over a decade of experience in our family-owned supermarket, I've honed my customer service skills while contributing to the success of our business. This experience has instilled in me a deep sense of dedication and customer focus.

However, my path has led me to discover a true passion for real estate and helping others achieve their financial goals and attain the American dream. As an aspiring real estate investor, I am driven by the desire to create generational wealth and financial freedom for my family and future generations.

Inspired by my parents' sacrifices to provide a better life for us in America, I am committed to ensuring that their hard work was not in vain. My strong work ethic, shaped by witnessing my family's dedication to our business working 7 days a week for over 10+ years, fuels my pursuit of financial independence.

I've dedicated myself to mastering the intricacies of real estate investment and creative financing strategies. My goal is to build a profitable real estate portfolio with sustainable cash flows.

With a solid foundation in customer service, a deep commitment to financial empowerment, and an unwavering passion for real estate, I am poised to contribute to the world of real estate investment. I am eager to connect, learn, and grow within this incredible community while continuing the legacy of my family's pursuit of the American dream.

I'd love the chance to connect with anyone in the local area and potentially meet. Learning from your experiences and discovering ways we could collaborate would be fantastic! Whether it's joining local meetups, grabbing coffee, or any other gatherings where the local BP community hangs out, count me in.

Thanks so much for checking out my introduction. I'm genuinely excited about the opportunity to connect with fellow BP members in our local area.

Looking forward to it, Fong

So I'm new to real estate investing and need some financial consultations in regards to the following:

- So I'm trying to raise private money for investing, and thought of the idea that, there was a possibility that I can have our own "business" fund me the private money for real estate investing and there could possibly be tax benefit for our family business? (Mom and Pop supermarket)

- My family and I run a family business for the past 15 years, a supermarket with 7 family member just running the entire business, our net income is about $700k a year. But our tax owed/payback the last 4 years has been ridiculous between $250-400k a year owed to Uncle Sam, its a mom and pop store and we've have only been using a bookkeeper because she gives my family really cheap rates, which I've been persuading them that its why we're paying a lot of taxes back every year. SO after a year of profit, 300K split between 7 people is much less than the average pay now a days considering we work 6-7 days a week 8-12hrs a day. This is also a reason why it pushed me to invest into real estate.

Any CPA recommendations would be greatly appreciated!

Thank you in advance!

Quote from @Ryan Muska:

True People Search or Driving For Dollars app.

both are pretty good for getting in contact with the owner

Thanks! Will definitely check those out.

Still quite new, but every time i try skip tracing a multi-family home, it only leads me to current and past tenants. Although I am using free software and resources. Was wondering if paid sources were any different? Or are there better methods to skip traces multifamily home properties? 

Thanks in advance!