All Forum Posts by: Jim Chuong

@Michael S. just providing another update. Deleted and downloaded the app again. The BP app on my iphone still won't take my login/password. I'm still accessing this site via browser.

@Michael S. just following up to say that the BP app on my iphone still won't take my login/password. 

However, logging into the site from a browser still works fine.

Just a simple question.  I've only been on this site for a short time, but I'm reading a lot of Zillow use.  Personally I don't like using Zillow. I use Realtor.com for prices/info. Is there any reason people don't use Realtor.com?

@Mark Nolan thanks for the warm welcome.  I appreciate it!

I wasn't quite in acquisition mode in 2006-2008.  I waited until 2010.  I'm Canadian and just kept watching until things bottomed out in 2009/2010.  I bought short sale condos and detached houses in PHX.  It worked out great.  Prices were less than replacement value and the CAD and USD were at parity. 

Since then, $1 USD = $1.33 CAD, condo prices have doubled and detached homes have tripled, rent is up 15%, and vacancies have dried up.  But yields have been crushed.

I don't follow predictions.  They're just fodder drive ad dollars to publishers. 

If 2010 was any indication, I know that if another downturn hits I'll have a lot of time to dig around.  

@Jon Kepler I'm not opposed to using leverage.  But I've always considered debt to be used as last resort (as opposed to first resort). 

This obviously kept me out of expensive domestic markets such as Vancouver and Toronto.  And also the reason I didn't start investing in real estate until 2010.

However, when the US went through the Great Recession, I found that I didn't need mortgages to buy the inventory in PHX. Condos and detached homes in "B" areas were the same price as an SUV.

All I had to do was throw bids on short sale properties and wait.  In 2010 and 2011 there wasn't much competition. So I got properties by default.

As I picked up easily cash flowing properties in PHX (at prices less than replacement value), money started coming in monthly.  With every additional property my monthly cash flow increased.  Soon I found myself funding purchases from cash flow. Like a tiny snowball.

I'm sure that if I keep going on this path I'll need to seek a lender. Time will tell.

NB: I am originally a stock market investor.  I came to real estate late because real estate seemed expensive to me.  My grubstake came from the tech meltdown of 2002.

@Alex Craig Thanks. Very informative site!

Thanks @Michael S. I appreciate it!

@Michael S.

There was no space after my email login.

Thanks for responding so quickly @Michael S.

Unfortunately it didn't work.  I took the following steps:

1. deleted BP app

2. completely shut down iphone by holding down power button

3. turned on iphone

4. reinstalled BP app

5. typed password on Notes

6. attempted to login by using copied password into BP app

The BP app doesn't provide any error message.  Also nothing sent to my email.

If I want to login to BP on my iphone I use Safari.

This message was typed while logged on to BP on my mac using Chrome.