All Forum Posts by: Phillip Kim

@Joe Splitrock However its good to know if your buying at a near peak or near bottom of market. 

Don't you think so? Wouldn't you want to make an informed decision if you were buying high or buying low? 

Robert Kiyosaki stated that the historical market crashes every 8-10 years. I know the last crash happened 2008-09, that leaves us at right around that 10 year period. I am curious to know if this is the right time to buy multi family rental real estate. I know no one has a crystal ball and has the definitive answer, however does anyone have any idea or knowledge of how the historical market works and whether you think we are at the peak? Is this the right time to buy? 

NO. There won't be much room for value add and not really trying too. The property is selling for 350k and is in turnkey condition. My goal here is to buy for as little down as possible, equity build, and cash flow a few hundred dollars/month. This is not a VA loan its just a small local bank and they keep these loans within there portfolio.

The interest rate will be the going rate in the current market 3-4% roughly. 30 years amort. Owner occupied, Duplex. 

I am soon to buy my first Real Estate property using 100% financing from a local bank. The property is a duplex located in the suburbs of the Philadelphia region. The lender does 100 financing with no PMI. I know there are positives and negatives to this strategy. However, is this a good way to get started being my first property? What are some serious things to consider? Are there any serious negatives to this strategy?

I am on a path to get my mom and dad to financial freedom and more time away from there current business. They are entrepreneurs and work 11 hours a day for 6 days a week.(For the past 20 years) They have a rental property worth $300,000 paid off, a business, and there current home. My plan is to get a Home equity line of credit out of the 300k home and get roughly 200k to invest into a million dollar property. Please give me advice on how to get my parents to financial freedom faster so they can spend less time at there business. What I am finding is that the million dollar properties will not cashflow much after mortgage and expenses are paid. Is the objective to start with a property and leverage to buy more and more until they have enough cashflow to live off of it?  

Thanks guys. Really appreciate the motivation and advice. All really good information. Thank you. 

This was all very helpful. Thank you to everyone. I currently work for corporate and don't see myself staying long. I want to create a business of my own and ecommerce sounds like a great place to start. Real estate is a passion of mine and I think I could create a business out of it as well. Thank you everyone. 

Im 22 years old and want to become and Entrepreneur and Real Estate investor. I just graduated college and work for corporate making a decent salary. I have always wanted to be an entrepreneur. My main question is should I save to invest in a business first or invest in real estate first? 

I am a new member to BiggerPockets and would love to connect with people from the Philadelphia region. Please reach out to network thank you.