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All Forum Posts by: Jerry Poon

Jerry Poon has started 39 posts and replied 231 times.

Post: When Low Purchase price doesn't make a great Investment option

Jerry PoonPosted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 236
  • Votes 67
Originally posted by @Bogdan Cirlig:

 Where did you get these graphs?

Post: New Member from New York Ciy (investing in Ohio)

Jerry PoonPosted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 236
  • Votes 67

Post: Cash or HELOC for DP

Jerry PoonPosted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 236
  • Votes 67

@Marc Jolicoeur What is this rental license that you speak of?

Post: Florida Buy and Hold Investment Property Suggestions

Jerry PoonPosted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 236
  • Votes 67

@Brian Johnson Not to be a bringer of doom and bad luck, but won't those area get hit hard again, should another recession come about?

Post: Out of State Investor Legal Documents

Jerry PoonPosted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 236
  • Votes 67
Originally posted by @Shawn Holsapple:
Originally posted by @Jerry Poon:

@Account Closed From the examples I have been provided with, they are slightly below market value. However, I am only using the Zillow tool to check that, which might be insufficient. Are there any tools you would recommend to check out neighborhood market values?

 The Zillow "Zestimate" is all but worthless.  For Indy, you can use www.rezamp.com to get comps - if you can't get any from a local Realtor.

An appraisal will help but not be accurate for a rental.  At the end of the day, you have to be sure it fits your cash flow model.

I've heard of so many out of State investors getting taken because they didn't do their DD.  You should be able to find a local that can provide some insight about the neighborhood and you should always get a 3rd party inspection, as mentioned above.

 Is that website only good for Indy?

Post: 17th deal - easiest one yet

Jerry PoonPosted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 236
  • Votes 67

@Tim Gross This might be a little off topic but isn't Houston, and pretty much the whole Texas area a big hotspot right now? Can did it sit there for so long?

Post: Out of State Investor Legal Documents

Jerry PoonPosted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 236
  • Votes 67

@Account Closed From the examples I have been provided with, they are slightly below market value. However, I am only using the Zillow tool to check that, which might be insufficient. Are there any tools you would recommend to check out neighborhood market values?

Post: Out of State Investor Legal Documents

Jerry PoonPosted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 236
  • Votes 67

@Jeremy Tillotson That's an extremely refreshing point of view. I keep on going into these things thinking that they are doing me a favor, almost always forgetting that I am the buyer. I try to think that all transactions are mutually beneficial.

@Account Closed Bob, he is a turnkey seller who will present move-in ready properties at predetermined prices. It is up to me to decide whether to buy or not.

@Mike D'Arrigo Thank you so much for the comprehensive list. I will make sure to ask for each and every item you mentioned.

@Account Closed Thanks for the good advice. I will do my due diligence and not get lazy haha.

Post: Out of State Investor Legal Documents

Jerry PoonPosted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 236
  • Votes 67

Post: Wholesaling TO landlords?

Jerry PoonPosted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 236
  • Votes 67

@Ryan Mellon Oh man that is above my price range...