All Forum Posts by: Julius Chinn

Mr Hengky has to deal with 2021 prices.

Spring Oaks is not on West Sahara.

Please dont scare Casey Powers away,  she deals with this stuff.

I surmise  Eric handles the buy  and then  hands the Football to someone else to manage.

No need for Capital fund because thing wont need replacing for awhile.  My head still spinning over that GEM.

I think Mr. E is in protect your behind mode. He cant say oh you wanted cash flow too-sorry about that.

As price go higher ratios get funkier.  Id hate to see what Erics $400,000 properties bring in.

What im reading in your latest post.

Why dont investors want my less than stellar DEALS.

Do you actually have inventory to wholesale, bit unclear.   Are you looking for wholesale stuff?

PS: you want to wholesale a breakeven deal so an investor will keep you around.  If you trying to sell a BE deal the investor wont want anything to do with you....................

Maybe im reading wrong.....i apologize if i am.   If not..  hahahaha.

The richest poster here says stay away from out of state D class.  Is he self righteous?   

Me SAD people dont listen to him......................hahahahahahahahaha.

Can it work for certain highly specialized individuals-----i guess.

When people  offer advice they are posting to the avg. bigger pockets newbie one must assume.

This is why Brandon is so Dangerous.   Zero down was great at lower price points.  If thats your argument....good freaking luck.

I know ARMY MEN can get in cheap but they still need  to show they can supprt 97% of mortgage balance left.

You say you closing on a property soon.   Mind sharing the details.  Not impressed with what people are buying today.  Maybe you are that child prodigy investor.

This is beer talk with the babes.

An owner has a right to a view.  You cant just willy nilly build a tall fence cause you feel like it.   

Maybe quiet enjoyment or some kind of legal beagle concept.

Just food for thought.

Can you please name many ways Blake could get started. Mom and Da would seem to be the easiest way. I dont know many Lawyers who want a 16 year old client unless he is a Justin Beaver type superstar.

Whats the hurry to get into RE after a 13 year bull run.  No matter what metric you use its plain insanity. 

If you want to roll the DICE thats fine.  But where does a 16 get the capital to even be given the DICE to roll.

I cant get my head around the fact that a real estate professional says because you get better tenants sinking fund isnt necessary....................lol.

Wish Casey Powers would chime in.

Question for Miss P:  Cash flow on $300,000 buy with $1,750 in rent ....i just dont see it. Thiss $300k is below median, i deduct tenants will be hit or miss.

All you Vegas investors tell me im Wrong you are rolling in cash flow.  Those of you who bought pre 2018 need not reply.

Bread and butter 3-2 rental.   A mom n Dad, 2 Moms, or 2 Dads......2 kids, one of each approved gender, a puppy on a 5 year stay.  You want me to believe day 2000 the property is in same condition as day 1.

What abount those Dinky Condos like Spring Oaks.  Buy in lower $100,000s they might bring in a bit of cash flow, that i can believe. 

In 2017 i walked a 2 bed on West Sahara for about  $80,000.  Nice property.  That was easily a 1% er then. Now not so much.   Rising prices KILL cash flow.

 I dont know Oakland from a hill of beans.  But not hard to figure out cash flow.

Based on this guys ratios.   I would  NOT be worried about big monthly cash deposits at the bank which holds your account.   there wont be much if at all.

I swear so many are just not including expenses nowadays in determination of you know...Profits.

Isnt there an envelope formula,  something like this

$4,500 times 60% less piti equals income.

40 % being expenses,  good ballpark rule.

1% rule isnt applicable to quads n little multis.   Expenses just pop up out of nowhere and eat you alive.

Pro forma everything look good.   Due to unaccounted expenses Ragular maintenance will not be done.   This is why so many quads n the like suffer from neglect,  not enough money to go around.

About turnover , probably never ends unless you have 4 related parties occypying all units.  I mean who want to live that close to your neighbors.  You bring a girl home everybody knows, You fight with MIL everyone knows,etc.

So what is the correct ratio?  i dont know but closer to 2% than 1% id think.

But then Sir i cant buy a quad there are none that meets your standards.  Mt response- sell option premiums.  Its a world unto its own.

Wait till the numbers make sense.  When is that you ask?  If i knew id be golfing buddies with Warren.

This needs to stop. 16 year olds...come on people.  Not even Legal to do anything.

Maybe that freckled teen in the Church pew will stop this Cold.   Lets Pray.

One way out.   If Rich Uncle will show you the ropes.   Other than that Wait. Go to Skool. Work Burger King.

About education: Learn the basics is fine.  Going beyond that is useless you cant do anything.  Reading a book is not involvement. In halls of Academia there is a concept called Blue Balls( there is the Puppy you want Dearly, but you cant pet it-something like that).  Not where you want to be.