All Forum Posts by: Jung-woong Han

@Bill Gulley

Thanks alot Mr. Gulley. I will check out and learn.

@Bill Gulley

Thanks for your information, my 20% profit comes from 10 to 15% below market price then sell above 5 to 10% above initial ARV couple years later. If this is out of reality that proves how newbie I am ;)

My future plan is get realtor license, do seller finance - subject to or wrap up - from seller then lease option to sell and if seller is not comfortable with any seller finance deal then set up sandwich lease option. Maybe this is too much for such a newbie like me.

Do you have suggestion what should I do to begin my journey as a RE investor? I am working as a chef but I don't really like my job so I wish to change my job. Any comment will be helpful thanks.

Thanks for all your replies. I am thinking about sandwich lease option or 'subject to' to get a property. 

I kinda figure I can purchase one house free and clear out of every seven SLO deals if I can make about 20% profit each deal.

Is my idea just day dreaming or something achievable?

Hi my name is Han.

English is not my first language so please bear with my broken english and newbieness.

I have question about lease option and seller finance strategy.

I am 40 years old and almost broke.

My goal is having 5 to 10 free and clear rental property as my retirement as soon as possible.

I read  books and listen seminars about lease option and seller finance.

It sounds very good strategy to pursue but sounds little too good to be true.

And I found most successful investors don't really mention about lease option nor not much about seller finance.

And I kinda noticed things has been changed since 'Dodd Frank Act'

Are lease option and seller finance valid tool for investing or just 'sounds good to sell' strategy for so-call Gurus?

Is this strategy too risky due to 'due on sale' clause and Dodd Frank Act?

Is market too small or too competitive?

Thank you for your attention and answers in advance.

@Betsey Davis

@Joel C.

Thanks for information. I am looking forward to.

@Michael Wagne

Thank you so much your input.

The part that I don't understand is this most cash flows I heard is about 100s to 200s per unit. Then I can imagine that I can save enough money for one house a year maybe two a year after I get 5 to 10 units but 25 to 30 units in 5 years? That is something beyond my imagination.

Michael, if you don't mind can you tell me how you could invest enough real estates to quit your job in 3 years? How many units and how much cash flow was it and what was price range.

Thanks allot.

Hi, my name is Han and I am totally new to real estate. 

English is my second language, so please bare with me even if my English is so broken.

I am 39 years old and have two kids, I am working as a hibachi chef - you know that Japanese grill like Benihana - and my wife is serving in Army.

My job is physically very demanding and I have several joint problem so I don't think I can do this that long.

I wish I can replace majority income with cash flow from real estate, my goal is cash flow 3000 to 5000 a month in 5 to 7 years and eventually make 10 to 15k a month in 15 years.

Unfortunately I don't have any money saved right now but I got a chance to save about 30k in one year while my wife is stationed oversee. After that I am pretty sure we can save 1.5I to 2k a month.

So what's a strategy that I can take? 

Is it even possible to make my goal comes to reality?

I like Buy and Hold but with my income I don't know how I can buy something like 20 to 30 units in 5 years like people in Podcast.

I know there are people who made it and making it so can you give advice and strategy that I can follow?

Thanks in advanced.

@Anthony Dooley How's Columbus market around Army base there?

@Wells Lange what was numbers was like?

I mean purchase price and rehaps.

@Winn Merwin

Thanks for sharing great information.

My wife is in Army so I have great interest in military base area.

It will be great if I can meet you when I get Georgia.