All Forum Posts by: Mei Bae Wu

I believe it may be best to get your credit and emergency fund ready before investing in a property. As BP has mentioned in various podcast/webinars, real estate is a long term investment. The reason for this is because things will come up and it will require cash or some financing to take care of it. You don't want to put yourself in a situation where you are pinched to make things work personally or for an investment. What I have done is make sure I have enough money saved up for my personal life and investment operations. Chicago is a city that can be tough on landlords - I have had bad tenants and the process to evict them is long and straiieous. The deals are there almost every year, so don't feel inclined to jump as soon as possible without having safeguards in place. :)

Cheers!

I love when you mentioned that deals are there every year 💯

As a newer investor, it’s so easy to get hyped when you find a good deal but you have to remember what’s best for you financially at the moment.

There’s always a good time to buy the RIGHT property.

I know I get really excited when I run the numbers and I do " find " the right deals every so often so I know there will be more in the future I just want t start it today. But I am working on my patience also!

Patience and knowledge is the key! I saw you mentioned in another comment that you wanted to make sure you had enough in reserves which is critical.

Would you rather purchase a property prematurely, not have enough funds and suffer from consequences or be financially secure, ready and then go for the right deals with safety/security?

1 Vote

Chicago, Illinois

Hello,

Does anyone know of/is a Chinese-speaking lender? Would love to refer you to my current and future clients in Houston, TX(:

xoxo,

Mei Bae Wu

Houston Realtor of Choice

2 Votes

Houston, Texas

Quote from @Noe Gil:

Hi Dylan,

Cheers!

I love when you mentioned that deals are there every year 💯

As a newer investor, it’s so easy to get hyped when you find a good deal but you have to remember what’s best for you financially at the moment.

There’s always a good time to buy the RIGHT property.

2 Votes

Chicago, Illinois

Quote from @Andrew Syrios:

Quote from @Mei Bae Wu:

Quote from @Andrew Syrios:

Welcome to BP Mei!

Thank you Andrew!! I've met amazing people through BP and continue to each day. Happy to be here and provide value(:

Good to hear Mei, BP is definitely the place to be for such networking. Good luck investing!

Thank you!! You as well. If you or any of your friends decide to start investing in Texas, hit me up(:

1 Vote

Houston, Texas

Quote from @Andrew Syrios:

Welcome to BP Mei!

Thank you Andrew!! I've met amazing people through BP and continue to each day. Happy to be here and provide value(:

1 Vote

Houston, Texas

Quote from @Eliott Elias:

Hi Mei, I do business in Houston and would love to connect. Hoping to buy some more single-family deals out there!

Hi Eliott, I sent you a colleague request and cannot wait to partner up!

0 Votes

Houston, Texas

Quote from @Derek Dombeck:

None of that would matter if your client was buying or controlling property using Seller financing, leases, options, or subject to purchases.

Commercial lending is great, but should not be anyone's only strategy as it restricts scalability.

What would be the best way to get a seller to agree to seller financing?

0 Votes

Hello!

I have a client who is eager to invest in real estate however, they have been on a sabbatical from their W-2 career. I am aware that lenders require 2 months paystubs for pre-approvals however, they have not been receiving any income for the past year due to being on sabbatical.

They have a healthy savings and are ready to invest.

How would you proceed with this situation? What advice would you provide this client?

Thanks in advance!

xoxo,

Mei Bae

1 Vote

Hi Rick! I am interested in potentially investing in the South Side of Chicago as well. Would you consider investing in Woodlawn/Southshore?

@Eudith Vacio is an agent specializing in the South Side of Chicago so she would be a great person to connect with!

3 Votes

Chicago, Illinois

All Forum Posts by: Mei Bae Wu

Mei Bae Wu has started 9 posts and replied 26 times.

Post: First time out of state investor - Cleveland or Columbus?

Post: Wait to build credit or try to buy a investment property now

Post: Searching for Chinese-speaking Lender servicing Texas!

Post: Wait to build credit or try to buy a investment property now

Post: Houston Realtor & Investor(:

Post: Houston Realtor & Investor(:

Post: Houston Realtor & Investor(:

Post: Looking for advice from lenders!

Post: Looking for advice from lenders!

Post: New Real Estate Investor in the Chicagoland area!