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All Forum Posts by: Marvin Ong

Marvin Ong has started 2 posts and replied 32 times.

Post: Newbie to 5 units in 7 months!

Marvin OngPosted
  • Phoenix, AZ
  • Posts 35
  • Votes 15

Hi @Junior Soares

How did you choose the locations? Did you fly in and take a look at the properties?

Post: Michigan Agent needed

Marvin OngPosted
  • Phoenix, AZ
  • Posts 35
  • Votes 15

Im also looking for agent in the Ann Arbor area 

Post: Being a Real Estate agent FT or PT?

Marvin OngPosted
  • Phoenix, AZ
  • Posts 35
  • Votes 15

This is a great thread. 

I got my license earlier this year and learning under my mother who has been an agent for 4-5 years. Some days I find it really difficult and overwhelming. But overall its a slow climb I believe, networking and growing and learning. 

It is a tough field where I believe many of you here mention when you are starting off you have to get prepared mentally you wont have an income for a while.

If anyone here in the Arizona area, I would love to link up and learn more. 

Post: Sell/Rent/Rent To Own

Marvin OngPosted
  • Phoenix, AZ
  • Posts 35
  • Votes 15
Originally posted by @Chris T.:

Rent To Own Homes: How to Profit from a Lease Purchase

Podcast 185: How “Rent-to-Own” Can Increase Cash Flow and Maximize Equity with Bill Powers

I use 2 documents. One standard lease, plus the option agreement. 

I direct the tenant buyer to my loan officer to make sure they can qualify for a mortgage in a few years, then I charge a non-refundable option fee.

Does the rent goes towards the purchase price? The rent is still just rent that has nothing to do after a few years when the time comes to buy? 

Post: Real Estate Agent in Arizona

Marvin OngPosted
  • Phoenix, AZ
  • Posts 35
  • Votes 15

Hi @Paige Caffas noticed you are an agent in Arizona. Do you handle rentals too? And do you work on the west side?

One last question, @Craig Drummond. So you have a full time w2 job, did the research and study before you were ready to choose the property then do the presentation to get financing? OR did you get the financing first than hunt for a property?

And also how long did you study and do research before pulling the trigger and going in?

Thank you so much @Craig Drummond for taking your time and sharing the details with me. You mentioned you read a bunch of books before jumping on this project. What were the books you read? Could you please share it with us?

@Craig Drummond Congratulations on a beautiful job. 

I too have a few questions like the others, did you finance the whole thing? Hard Money? How much of your own $ is invested in the project?

Did you talk to the contractors and the people doing work to estimate the work load? How were you able to calculate the work needed on this project.

And last question, since its on the market now. Im sure you want to sell it ASAP hopefully in days or a short few weeks. But whats the longest it can stay on the market before it starts cutting in on your margin?

Also love the color, amazing.

Post: Hobbies you enjoy that DONT get you paid

Marvin OngPosted
  • Phoenix, AZ
  • Posts 35
  • Votes 15

I enjoy snowboarding and do a lot of juggling.

I also started hosting a circus camp for young adults a few years back and still running in California. 

Post: Wayne Gray program

Marvin OngPosted
  • Phoenix, AZ
  • Posts 35
  • Votes 15

I went to the Barbara Cocoran talk tonight. It was free but an hour of that was Wayne Gray selling us his $997 Real Estate Retreat that boast financial funders for deals up to a million per deal with 1.65% interest.

Couldnt find much on it except this one thread. Cant help but feel a little Tai Lopezish but much better and cleaner.

Any recent thoughts?