All Forum Posts by: James Ma

@Dan B. It sounds like there's a lot of complications with this deal due to the timing and incorrect forms. If you want to look at pursuing the purchase further, you should definitely talk with your lawyer on how strong of a case you have.

Real estate always goes up over time. If nothing else - due to inflation.

Flipping is probably the worst idea in a hot market as if the market tanks before you finish your reno, you're unprofitable and forced to hold. Buy and hold can still work even in today's markets with low interest rates, there are cashflowing properties.

Timing the market is never as good an idea as time in the market.

I think I would go make things right with the CEO investor once confirmed how your son in law overcharged and screwed him over. Valuable lesson to the son in law and the CEO investor will likely still be willing to work with you in the future.

It's a tough situation and makes my blood boil hearing someone screwing over family and one I would probably want to have a heart to heart with the person first. Maybe there are serious money issues, high debts that he's worried about etc. or maybe he is just a scamming SOB but I'd want to have that talk first before talking to your daughter about it which I think she deserves the right to know what kind of person she is married to

So many people are hung up on the word "forced" as taking it as a gun to the head which I don't believe the OP is meaning but more speaking to that his family is very insistent on it and saying no will hurt them a lot and may even bring a lot of tension to their relationship. 

It's a tough spot as they're your family. I think you should treat it though as most business deals but with a softer approach since they're more than a random or even a friend. I would sit them down and let them know your concerns and see how they address it. If they make you feel comfortable then great you can move forward. If not, you've already let them know how you feel and it will hopefully help them understand why you're not comfortable moving forward.

You want to get into real estate investing as well so perhaps you can "partner" with your parents instead on this deal and work on it together? I wouldn't put too much weight into a credit score increase coming into play for your decision, scores easily move up and down so thats no big deal. I'd be more concerned if the flip doesnt work out, how much it will impact you financially.

I just got a refinance done for a 1.45% variable on 30 yr amortization, 5 year variable in Canada and was told this is a bit higher due to a refi on a rental property. Curious to hear how the US mortgage rates compare in general as the numbers sound like around 3%+ which is more than double

I'd love to get a better understanding of the cash flow and appreciation historicals for the area to invest, if one of you are able to help share insights that would be greatly appreciated!

How are you feeling about retail commercial units these days? Good to take the risk while they're selling low?

First off congrats on your ambition and studying the game earlier. That preparation and hard work will serve you well and you will be successful in your journey.

I'd advise against "courses" at this point, most content you can find online or in books for a low price and I'm guessing you don't have a lot of capital at such a young age that its a huge investment for you to make.

If I was in your position, I'd look for mentors locally who can help you and when you chat with them talk about how you can offer THEM value. I'd also spend time focusing on how you can get a good high income career path which can help you build your starting portfolio and track record which then makes it easier for you to get investors down the road. Nevermind being young, its hard to find investors at any age when you don't have a proven history of profitability and success you can demonstrate. 

I think your biggest asset is you have time on your side. Even if it takes you 5, 10 years to get started that is FAR ahead of where most started out who are on this forum today.

Good luck in your journey and stay hungry but be content :)