All Forum Posts by: Leon Y.

@jesse Holmes that is funny! Rising tides lift all boats. Even your friends boat!

Better to start by throwing yourself into it first then you get exposed to every aspect of the business. You'd only realize what you need to know and what you don't need to know by getting completely involved. Obviously as you gain more experience and you get bigger you can delegate. But how would you know someone is good at something if you've never touched it yourself?

Global commodities have been going down because China's not manufacturing as much anymore and they are not building as much. While productive commodities may fall a bit I still think it won't cause real estate to deflate. With what central banks have been doing all over the world, I think it will be more like inflation

Oh man, what happened to Vegas?! Nevertheless can't wait to attend!

Doubt it would go up. But if interest rates do go up then the value of your mortgage goes up as well. If you lock in a 3-4% loan over 30 years, your mortgage is more valuable if the market interest rate goes to 6-8%.

Never hurts to ask for seller financing. I recently closed on a deal because the seller got frustrated after a deal failed and put owner financing option out there. He also had an agent. It doesn't matter whether there's an agent or not. However, do try to work with the seller agent if you don't already have an agent.

Haha Tim G.! It is amazing what can happen when you do a Biggerpockets podcast! Looking forward to hearing you on one!

Personally I think it is best to build up some more rentals or passive income before considering getting into real estate full time. Rehabs are a good way of making money but you are always chasing the next deal. The best is to try to reduce some of your expenses, start investing into rentals, and once you feel comfortable with the cash flow then you can get into rehabbing without having to worry about the next deal coming around.

Hey Jerry, you bought it with barely any money invested. It is a great deal. With such a small net loss per month, I think it is a great investment and you'll probably stand to gain a lot of equity in the next few years. If you work out the returns on money invested it is going to be tremendous. Good job!

I wouldn't sell any real estate in this current environment. Selling costs are huge in any case (I wouldn't want to give up 6%+ selling costs) and there will be capital gains. Keep the house and rent it. The interest rates on your debt are pretty low. Compared with potential appreciation and rental income it is far more advantageous to keep the house than to sell it to pay off debts. In the meantime just save money to pay off your debts.