All Forum Posts by: Jim Chuong

@Gadiel Del Orbe there’s a reason that Warren Buffett is holding $122 billion in cash

https://www.inc.com/jason-aten/warren-buffett-has-a-122-billion-problem-it-could-be-really-bad-news-or-a-really-good-lesson.html

@Russell Brazil As a person who only started investing in US RE during the Great Recession I’m not sure that this is an accurate statement

@Bijou Diaou As a Canadian, I started investing in US real estate in 2010 during the Great Recession. The Canadian Dollar was at parity with the US dollar and I had no competition. My biggest mistake was that I should’ve bought a lot more

@Tyrell D Bradshaw always work ON the business, not IN the business

@Shane Elias-Calles all the information is available online for free. If you’re too lazy to dig that up there’s no way any coaching or mentor can help

@Joe Kim the best way to identify newbs on BP is to look at “recession” topic OPs

@Shaquan Webster the best way to identify newbs on BP is to look at “recession” topic OPs

@Jazlynn Gibbs unless the recession drops RE prices (US or CAN), it will be a non-event for me

@Logan Causey From my perspective as a Canadian, 2008 was the beginning of getting free US rentals. If you’re right and we’re going to experience something “worse”, then I’ll be extremely happy. But I’m doubtful that lightening will strike twice

@Austin Grant McDowell My signal was the Great Financial Crisis. I’m Canadian and was unaffected. It was 2010 and the C$ was at parity to the US$ and RE prices had collapsed in the sunbelt by 50-70%, which made US RE extremely affordable for Canadian investors

My singular goal back then was to replace my annual salary with the equivalent in rental positive cash flow

Not only have rents and appreciation exploded since then, but the US$ is over 30% more valuable compared to the C$ then it was back then. And all my living expenses are in C$

Today I realize that I was thinking too small. I should have sought a bigger goal (eg. 10x my annual salary) because RE investing was very easy during the GFC