All Forum Posts by: Mark Sam

@Cody L. How would you learn about it. So much info on residential, so much misinformation & misprepresentation in commercial idk where to start.

@Steve Hall Inheritance. I wrote the trust myself to transfer it from my name to the trust incase I pass to avoid probate for my other family. Getting it done myself means I wrote the trust, had it reviewed & approved by lawyers, and transferred the condo to it. 

I live in the condo pay my bills, with the savings from canada. I came here as a student at first got my greencard this year. Getting a job soon, than playing monopoloy.

@Cody L. Love what you said bro. I that’s what I’m trying to do. I wanted to leverage 4 plex’s with 10-20% down live in it for a year move, do this the 10 allowed times having accumulated 40 units 10 properties, than using the cash flows to transition to commercial.

Some of my other real estate buddies told me to skip residential jump into interest only loans and play the cash flow monopoly game. Any thoughts?

Thanks @Craig Jeppesen.

What if I got a full time job right now earning 50k annually while being in school? And what if I got two jobs paying 50k combined 100k annually?

200k house in Houston is 3 bedrooms, 6 bedrooms 5 bath same area is 270k, I plan to hold the house a long time. Smh. that's why I'd buy the nice house for my family buffet style buy the family house first get it done then focus on compounding the cash on cash returns.

I am currently studying to get my Real estate license in Texas & CA to sell my condo & buy properties in Texas to represent myself & earn the extra commissions. Totaling up the purchases that's a lot of commission & lots of Practice.

Thank you all. We all seem to be on the similar page of selling the condo and buying more properties somewhere with a lower median price than CA like Texas, I was thinking of buying for my family & I a nice house to live for a long time in Houston and invest around that area. 

My biggest question is how do I qualify for a loan? I don't know anything about this. I have a 750 credit score, down payment. Problem is my two years tax returns are 0 so how do I get a loan for the properties ASAP, I want to put 20% down no less no more, & buy 4 plexs in Texas after buying the family house. Statistically, if I don't pursue the degree I could quickly get a job paying 50k annually or 100k annually with the degree. What should I do to get loans?

How do I buy a 4 plex in Texas, or anywhere I am willing to move where is best I though Texas is best. I am moving from California. I have a 750 credit score. I have the down payment available of 600k. How do I get banks to qualify me for 20% down though, I want to use little down. How much income do I need to qualify for the mortgages? I want to do residential financing moving every year buying a new 4 plex & living in it never selling. My tax returns are 0 for the past two years because I was in university, should I keep pursuing a degree in Computer Science or do a job to get my tax returns up to get financing. Again how do I find out how much I need to qualify for the mortgages?

I was a double major in accounting & finance before, realizing a CPA with an MBA makes capped $200,000, CS quant majors doing computer science algorithmic trading can profit heavily, like Ken Griffen quant bond-arbitrager who has a net worth of $9+ billion  and bought the most expensive house (penthouse) in the nation in new york and house in Europe. Quants can make 300k annually after 5 years 500k so I decided to change it to CS. CS is something new that I did not have any knowledge in. Finance and accounting are easy for me I naturally understand it & love it, my father used to be a real estate investor in his home country before moving to America after he moved here he retired. Now I want to use real estate to excel that wealth because it is my preferred asset class that I feel is the best to create wealth. 

I want to create massive cashflow so I can have financial confidence and provide my family in the future with the best to take care of them and be there at a young age. I want to be with my kids after I have built a real estate portfolio. I am debating to go to texas buying a single family house for us. Than purchasing 4 plexs with 20% down to create a portoflio. But that way you are paying a lot of principle a couple of my commercial real estate buddies told me do commercial pay interest only you'll have higher cash flows. What would you do if you where me?