All Forum Posts by: Jimmy Lieu

Hi Nicholas! If you're looking to BRRRR, I would definitely look into hard money lenders. Because you're completely new to real estate investing, I would definitely look into partnering with other investors for your first one and working out a win-win partnership. Most hard money lenders will want to see some sort of successful track record or else they'll add on much higher interest rates/fees. Something to be wary of!

Hi Ying, you should look into the concept of income hacking. It's essentially when you're making a high income in a much more expensive city but investing in another real estate market that is much cheaper and has much more room for growth. You would get a much much better bang for your buck in another real estate market like Columbus Ohio. For 80-200k, you can easily buy 2-4 single family rentals that would all hit the 1% rule, positive cash flow, and get tons of appreciation. It's a super affordable real estate market where you can still find deals that hit the 1% rule anywhere from $120-180k purchase price. It's one of the hottest markets in the US right now with so much population growth, job growth, and companies moving/developing here (26B Intel headquarters being built here, 68K+ enrollment in Ohio State University, Amazon, FB, Google, Honda, Microsoft, LG, Nationwide, Anduril, etc.). Happy to connect and answer any questions you have.

Hi Byoung, I've worked with quite a few investors in Hawaii and you unfortunately won't find cash flow there unless it's a STR. The real estate prices in Hawaii are quite high as well. If you're looking to go STR, I would say Hawaii is a great market for that. If you're looking to go with a standard buy and hold rental property and want cash flow and appreciation, it's going to be hard. With that being said, I'd definitely recommend looking at Columbus Ohio! It's a super affordable real estate market where you can still find deals that hit the 1% rule anywhere from $120-180k purchase price. It's one of the hottest markets in the US right now with so much population growth, job growth, and companies moving/developing here (26B Intel headquarters being built here, 68K+ enrollment in Ohio State University, Amazon, FB, Google, Honda, Microsoft, LG, Nationwide, Anduril, etc.). You can still find positive cash flow (aka the 1% rule) and amazing appreciation potential. Happy to connect and answer any questions you have.

Hi Josh! Because you live in an expensive city like Toronto, I would definitely look into the concept of income hacking. This is a common investing strategy which you'll earn a high income in your own city but use that income to purchase in much less expensive real estate markets with positive cash flow (aka 1% rule) and huge appreciation potential. Personally, I would recommend Columbus Ohio! The macroeconomics are on fire here - population growth, job growth, and companies moving and developing here. For example Intel headquarters, Google, FB, Amazon, Nationwide, Honda, Anduril, Microsoft, LG, and many more. Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and there's amazing appreciation potential. Lastly, the price point is still very cheap here in the sense that you can still find investment deals that hit the 1% rule for 120-180k! Happy to connect and answer any questions you have!

Happy to connect and definitely interested!

Hi Mario! Your investor agent should be sending you personalized deal flow (on-market, off-market, and pocket listings) and finding these investment deals based on your buying criteria. Additionally, they should walk properties for you and be able to provide in-depth investor commentary on the scope of work, estimated renovation budget, and how the location is (curb appeal, how residential, type of tenants it will attract, etc). Your investor agent should be helping coordinate and getting a home inspection and contractors and making sure that you're fully okay with the renovation size of the house. They should be able to consult and explain why a deal is good/bad. The reality is you want to work with a realtor who will say NO most of the time... because the reality is most deals aren't great deals! Happy to connect and answer any questions you have!

Axxis Title is great! They're my recommended title company for wholesaing!

Hi Eka, yup no problem! I'll send you mine!

Hi Ivette, if you're looking to invest out of state, I would recommend taking a look at Columbus Ohio! A lot of my out of state real estate clients really like this market because the macroeconomics look so good for this market - population is growing, job growth is growing, and so many companies moving and developing here. Look at Intel headquarters, Google, FB, Microsoft, LG, Amazon, Nationwide, Honda, etc. Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and it's super landlord friendly (so you will never have to go through a 12 month eviction or anything close to that!). Lastly, the price point is still very cheap here in the sense that you can still find investment deals that hit the 1% rule for 120-180k! 

To answer the other part of your question, the biggest thing when it comes to whether someone successfully out of state is whether they have systems, processes, and a SOLID real estate team - agent, lender, PM, contractors, etc.

Your investor agent should be the focal part of your team - they should be able to send you personalized deals (on-market, off-market, pocket listings, etc), they should walk properties and provide investor commentary for why it's a good/bad deal, estimate renovations and develop a scope of work, and should be able to build the rest of your real estate team!

Happy to connect and answer any questions you have! :)

Happy to connect and answer any questions you have!

Hi Cole, I am really experienced with the Cleveland market and will let you know to be VERY VERY careful about the location you buy. Even if a house is hitting the 2% rule on paper, there are locations that you won't ever be able to collect rent and dealing with constant police calls/break ins. It's not worth the headache! Additionally, the constant turnover will kill any profitability you have. All I'm saying is to be really careful and even if a deal looks great on paper in Cleveland, you want to make sure you're not buying in a warzone. Personally, I moved to Columbus where the neighborhoods are a lot better and can still hit the 1% rule and have tons of amazing appreciation here! Happy to connect and answer any questions you have!