All Forum Posts by: Johnny Lau

Hi everyone! I'm just getting started out on my real estate journey and stumbled upon Bigger Pockets. I just wanted to introduce myself and see if there are any meetups near Provo coming up soon? Almost every person, podcast, and book have all said meetups are a great way to get started and meet some experts so I thought I'd try it out! 

I am in the market to rent out my first property as an LTR. Should I take the time to meet with a lawyer/real estate agent to prepare my rental property? Is it acceptable to use a general lease agreement found on the internet? And what are some of the best ways I can protect my property? Any and all tips would be appreciated!

Hi all!

I'm looking for some help and/or mentor as I've been grateful to save $500,000 but I'm not sure where to best invest these savings in. Ideally, I would like to generate a 10% to 20% return on investment as I'm still in my 30's and I have the energy to continue working and build a successful business with a mix in accounting and real estate. 

Please feel free to share ideas and would love to connect via zoom to hear more about business ideas. 

Hey everyone I’ll try to make it short. I’m 20 y/o and my ultimate goal was to primarily learn about real estate. I saw this job app on Indeed “Real Estate Acquisitions” I applied and got hired. 1 week in I realized it’s a small asset management group. 2 wealthy brothers tryna grow their port with 80 units in town and a property manager. Brother A, is the real estate head Acquisitions he meets w sellers lowballs them and also does prop management. Brother B,is the most experienced he’s CEO he’s but now just the numbers guy and talks w mortgage brokers, lenders and brokers etc…

First months was fukin great it was like a newbies dream to enter the real estate. Brother A, took me around properties showed me in person red flags in properties, the construction problems etc... I even saw real estate transactions live in person when he was speaking to sellers directly. I also met this multimillionaire who owns 6 apartments when we wholesaled a this one deal to him. So the experience was awesome.

However once THAT first month was over… the reality set in. I soon realized this job position was to be on the phone for 6-8 hrs a day straight up cold calling. Now I’m two months in I haven’t had my first deal yet this is all commission base. I’m still going…..

To reclarify, The job in a nut shell is to cold call (6-8hrs) get properties under a STRICT ball park range 50-90k a unit in California, then get out to the property and put it under contract. Rinse and repeat cold call again etc…

Both Brothers are encouraging me to keep continuing and tell me these are the “walls” you’ll face. Brother A has been getting deals once a month, that first month I used recycled leads. Now I’m they put me in a market where 50-90k a unit is almost impossible. (I cold called realtors and brokers they said 200-300k in this new market I’m in) and the Brothers rebuttal “they always say that”

This job pay is. Close a 2 units $2,500, close 6 unit and below $5,000. Close 6 units and above $7,500.

I’m having second thoughts about this job and found that I should value my time than cold calling 6-8hrs… It kinda sucks rn, I love real estate and wealth generation but my plan now is to get one property learn the process of acquiring then quit. I’ve been looking into selling life insurance I heard that could be good and has a wayyy better work life balance, I also have a business that helps people and I think life insurance could possibly fit me more than lowballing and offending sellers idk lmk….

The only reason why I’m staying is really gain the experience of that 1st real estate transaction w a seller in person. Then leave…

Let me know what I should do or what you guys would do🙂🙏

Hi guys, 

How are you planning to finance your retirement?

What income in retirement do you need?

I used to think that if I have about 10 houses, each pays about 2k in rent or so, all houses paid off, lets say after all the expenses I will make about 15k per month- that should be enough.

Lately, with all this inflation, I am worried that that by the time its time for me to retire (in 20 years) it might not be enough. With all the money printing I am worried we are the next Zimbabwe or Venezuela 

What are your plans? How many paid off rentals do you think will be enough?