All Forum Posts by: Jason Lam

Hi perspective REI here. What methods do you more experienced people use to come up with your vacancy rate projections as these can vary by markets. Are there times where you were just dead wrong and it made a "good deal" a "bad deal"?

@Patrick Britton thank you for the reply. This is what I’m looking to do. I can offer financing for smaller deals (e.g low 5 figures) but can’t replace a hard money lender yet. I’ll look into the forums.

@Patrick Britton that is an ideal strategy but the actual rehab/inspection part is what I know the least about. Can you point me toward a resource to learn what to look out for? I can’t find a partner without know what makes a good partner.

@Patrick Britton that is an ideal strategy but the actual rehab/inspection part is what I know the least about. Can you point me toward a resource to learn what to look out for? I can’t find a partner without know what makes a good partner.

@Steve Rozenberg sorry yes I have those. My plan is to generate $2500 in cash flow/mo. I will save the majority of my active income and continue to invest in rental properties. I expect this to take roughly 5 years doing 1-2 properties per year. Once I hit that goal I may want to ease off the gas a little and reevaluate a new strategy.

@Steve Rozenberg can you point me toward any resource to help build a strategy? I think I have a one but I could be completely wrong and it may not be realistic.

End goal: live a lean lifestyle solely on passive income and continue to use my active earned income to grow passive income.

Path to get there: buy 1-2 properties a year for the next 5 years. One that is complete I’ll reevaluate where I’m at and decide on the next steps but overall it’s going to be grow passive income.

I am not looking for an active income stream so house flipping is not on the road map. I’m looking for turnkey to begin with then maybe get into light rehabbing to turn the rentals into a higher cash flow property.

@Jonathan Oh thanks. My biggest fear is I’m relatively new to this so I have no idea what I’m doing when it comes to psychical inspections and all the things to look out for. I can run numbers to find potential deals but after that when it comes to inspection it’s out of my realm.

@Tim Harwick thanks for the info. How did you do due diligence on the turnkey provider? What questions did you ask? Did you get references for other investors?

@Kiera Underwood what are some red flags I should look out for when buying sight unseen and only using videos/photos?

@Cassi Justiz I do like your method. I think that’s too much to jump into right away I think I am looking for full turn key for the first couple properties before I take the risk of a full rehab with contractors. I’m sure I’m going to run into some unexpected issues with turn key that will help me when I branch out to rehabs.