All Forum Posts by: Roger Lin

Brian is absolutely right! There needs to be an exchange of resources that makes a partnership worth it. I have a partnership where I expected to be a passive member but ended up taking on much more day to day stuff because everyone wanted to be passive... I learnt that personally, I can't be a passive partner. Another one, I do all the leg work but my partner brings guidance and financial resources. My partner being much more experienced also pushes me to stretch beyond my comfort zone. He also supports me along the way. This one is very beneficial. Whatever it is, make sure everyone can get along and everyone has something to contribute. If there are people who want to be silent, make sure they are silent.

Ha ha I came across similar class d properties. One was in Roanoke va and the other SW DC. The Roanoke one pro forma at 18 cap but in reality the stuff you need to deal with in management is just not worth it. The DC one had this black powder on the wall of one unit. I had no idea what it was unless I saw the crime scene tape, that is was charcoal used to find fingerprints. I recently bought a small 4 unit in the town of Quantico. Not the wealthiest of neighborhoods but it being right next to the Marine base and the FBI crime labs, I think I am pretty safe. This one actually performs at 9.96% cap. Would love to find something bigger but it isn't easy in the DC area.

John,

I think I told you how I feel about this, which is the greatest investment I have ever made. Most active investors I know are also licensed agents, weather they are active as agents it's another story. 

One of our friends (Scott G) is both and is very successful in both. I think it brings a level of stability to both the investment business and the brokerage business. Yes, being an active agent helps bring food on the table in between the rehab, lending projects. Additionally, let's think worse case scenarios. During the last downturn, the full-time flippers got into a situation where no deal seem safe and it was hard to find financing for deals, but guess what? The investor/agent guys, because they had built up their brokerage business, even in the recession, they were able to live on commissions and keep taps on the pulse of the market. Sure, it was difficult for them too but they survived. As soon as the market starting improving, they were the first to act because they KNOW the market.

It is not easy to do a sales job (trust me, I have difficulty with it everyday) but I personally think you have a natural talent for it.

Justin, I did all of hours for a broker's license and really should complete the licensing... perhaps we contemplate doing a brokerage together? 

Roger  

Alright, I was crazy to look for those returns... Started crunching numbers and that just does not seem realistic. Experienced VR operators, what is your return?

Thanks!

Roger

I am starting to look into a vacation home in HI that I can use for a few weeks a year but rent out for the rest of the year. I really don't know much about the market there except an awesome two week vacation in Maui two years ago.

I have 8 years of real estate investment under my belt and I am looking for a decent return, perhaps around 7% Cap or more in a desirable location. Not sure if that is achievable. Can anyone recommend a realtor who is also an investor? 

Thanks!

Roger  

Calling DMV real estate investors!

This is the first of our 2015 meetings. If you are interested in learning about Contract for Deed or other strategic investment techniques and how do effectively structure these deals, come to our meeting on the 27th.  Here is our Evite.

Thanks!

Roger Lin

I've been thinking about the same issue for a while. I think the ideal location should be a place that people vacation year-round, a place that you and your family like to vacation, the total NOI from the investment is good enough to justify the money and if it is far, you have a reliable management company.

My thoughts are Hawaii....  ah, the great food, people, the relaxing music and the sun.

@Thomas Clark Welcome! Just sent you a connection request. Hope to meet you soon in person.

Roger Lin

Glenn,

Congratulations! I think there are probably millions of people in the world who were inspired when they read Rich Dad Poor Dad (I think it is still a bestseller today). How many actually took action? Probably less than half. How many experienced failure and gave up? Probably a lot. People have different circumstances but I just like the premise of another great book, Think and Grow Rich, it takes lots of failures and successes and persistence to get to where you are. 

A huge congratulations to you! 

There are always negative people and there are people who think you just got lucky, well, they are not completely wrong. However, speaking from personal experience, if you are positive and work your *** off to improve your luck, you are going to be much luckier than those naysayers.

So happy for you!

Roger Lin  

Tony,

welcome. I am also an investor in northern VA. I think the best way to learn is through people who have been doing this for a while. We have a group that meets monthly in an anti-seminar/boot camp sales manner.

Let's connect privately and come join us.

Roger