All Forum Posts by: Paul Cho

@Holly Barrett

Thanks for the wisdom!

Could I ask you a newbie question?

Everyone keeps saying make sure the #s are correct. When you say #s what is the breakdown of the numbers?

I only see the (ARV x 0.7) - repairs = purchase price.

Is that all? Or is there more?

I’m assuming there needs to be a profit margin? What’s a decent-good profit margin after paying off expenses?

@Jed Haslam-Walker

Thanks so much! I shall definitely reach out and ask some questions after my research is solid so I don’t crazy asking random questions :)

Paul Cho

@Brandon Goldsmith

Awesome! That was the common advice from all the real estate agents that I asked through this site! :) thanks Brandon for your wisdom!

Been joining a lot of those groups too - investor friendly real estate groups, but still searching for some people that I can learn and shadow from :)

Paul Cho

@Nicole Butt

Definitely helpful! I’ve been joining the fb groups that have off markets and finding the right locations to invest OOS, I’ve only been to florida(Orlando, Sarasota, and Pensacola) TX(Houston) and Georgia(Atlanta), definitely have seen better deals down in those cities than up here in Albany/NY. Well for me that is. I’m sure there are some deals here,

I really wanted to look into the Florida area the most. Been joining in the groups, just haven’t been able to find the deals that I can participate in.

Definitely looking into property managements down there too.

I've also looked into rent to retirement sponsored on biggerpockets podcasts. Everything is done for you, and they help you with your journey in REI. As soon as the heloc is approved I shall take your advice and move forward into look into the goal of my investments :)

Very appreciative of your share! Thanks again! Hope we can work together on something if you’re open :)

Paul Cho

@Alison Walden

Wow very informative! Thank you so much!

That’s a good place to start and learn how to analyze deals. Understanding the numbers I guess will be my number one priority.

For my personality, reading everyone’s advice being different but sounds good at the same time pulls me back to see which way to start would be best. They all sound reasonable and doable for me, but there’s just so many different advices haha but I shall look into it

Another question if you don’t mind me asking,

If you have done OOS investing. Is there a location via sites that you look into to find other contractors and investors? Or do you just go through BiggerPockets?

@Andrew Pope

Thanks so much for your help! I’ll definitely be looking into connecting with investor friendly agents and moving forward!

hello everyone my name is Paul Cho, brand new member to the bigger pockets forum.

have been learning via bigger pockets podcast, purchased BRRRR book by david greene (1/3 into the book, very informative)

my situation - i got lucky through my dad getting a house upstate NY as a gift. everything is paid for. he didn't know what to do with the house cause he's always traveling overseas. so i'm here with this house, applied for HELOC (in the process). VERY interested in the BRRRR method (SFH and MFH) but want to start with SFH so i can learn the ins and outs of how to BRRRR (taking action) and meet some experienced people and get connected.

questions 1. because everything is so expensive here in NY, was trying to look into more states down south (FL/GA/TX - or other states, always open to learn) - any good websites/forums/meets that people go to that they would like to recommend? 

2. do ya'll look for a good investor friendly agent first, or that doesn't really matter?

any tips on what you would do in my situation, anything would be helpful, thank you very much for your wisdom