All Forum Posts by: Justin Ho

I'd walk in all of them with your deal printed and create relationships face to face!

I agree with Jasen. The liability falls on the renter who is really the daughter. If her checks cleared before that usually means income. In my state and city, small claims costs are minimal. Also possibly state specific, small claims court by nature usually work well with plaintiffs with ample documentation. If it doesn't cost too much time or money, go for it. Big lawsuits are definitely a drag but small claims are generally much much simpler with the right prep

Hello all! I'm also from San Francisco. I work as a project manager for a development company names Gold Leaf Real Estate and I'm getting into the agency side of the business. I believe the rate increase is capped at 6%. Also it may go up to 2 million. Those eligible are members of the credit union that work in either SF or San Mateo counties. Homes must be located in the 9 Bay Area counties The best part is no mortgage insurance required!

Michael is right, there almost is no such thing as true passive income. There's extremely time leveraged income, where your results/income are a huge multiple of the effort/time put in. You will still have to set goals, manage timelines for your goals, observe, check, learn and take action etc. That is probably a more accurate definition of "passive income" in real estate. With that said, by no means should this discourage you but in fact inspire you. Over time, investing in the future will pay you back profits long after you're too tired, sick, or unhappy to constantly work to live!

Jeff S. Thank you so much for clear numbers and context!

Also speak to a local authority/lawyer about the tax laws specifically. Some cities are attempting to charge hotel taxes for Airbnb rentals

Use a knowledgable attorney. Legal zoom is really cookie cutter company creation. An attorney would be able to teach you a whole system of protection using multiple corporations, something that legal zoom doesn't have. Strategy

I suggest having a conversation with a local realtor to see what your home can really be sold for. Zillow can be way off and since the numbers here are tight, you'd want a more exact estimate. Go as far as asking for comparable properties in your area to this realtor. He'll pull up other properties that are about the same size and built the same year that have sold for the last six months as a considerable comparison

Join the MLS in which you're going to be doing deals in. Even within states there are numbers of MLS subscription services. Some of them mirror others. For example here in the Bay Area, there is one big one and a handful of others under it for each "area." The associations would be able to point you in the right direction

Violence and squatting is a problem for sheriffs but can you effectively wholesale this if you haven't seen the extent of damages on the inside of the home? Is it possible to have this cheap enough where it isn't an issue? Serious asking btw I can't help but imagine what pissed off squatters can do to in a house for long periods of time. Cement and plumbing for one