All Forum Posts by: KinYat Lam

@Fred Gonzalo I do not think you should go for a hard money loan. Talk to the local small banks, getting a commercial loan is still better than getting a hard money loan. 

Sean

@Account Closed It depends on the buyers that you have on your buyer list. But I believe for investors that are getting deals from wholesalers continuously, they would do flips more than rental as flips are relatively short-term to rentals. And investors would try to profit from the deal, then get the money back and move on to another deal. For rentals, that is a long-term investment and you would not be able to get the money out again in a short period of time (the fastest way may be the BRRR method). So you cannot get another deal from the wholesalers as your money is tied up in the rental. So wholesalers would be more likely to work with investors that do flips. Hope you can understand my poor English lol.

Sean

@Account Closed It depends on your plan. Flips are relatively short-term to buy and hold. If you want to make some quick money, then you should do flips. If you want cash flows, then buy and hold. But if you want good deals from wholesalers, you should have enough fund to buy the whole properties by cash. That way you can attract wholesalers to sell their deals to you first.

Sean

@Account Closed Being a wholesaler, you should be really good at marketing, so you can find properties under market value, then you will be able to wholesale the properties to other investors so both of you can make a profit on the deal. Therefore, getting deals from "real wholesalers" should always benefit investors, at least the deals should be better than those on MLS. Hope that can help.

Sean

@Gafaru Hall What kind of real estate investing are you interested in? Long-term or Short-term? Welcome!

Sean

@Michael Tranzilli

For long-term buy and hold, I think you would have to calculate how much value will bring from the revitalization project to the property. Maybe it can increase the rent in that area or increase the price of the property itself in the next few years. Then you can buy the property at a reasonable price for you to make a profit. So even if the revitalization project stalls, you can make something. Hope that's going to help.

 Sean

@Michael Tranzilli I think you have to think about what to do with the property first. Do you want to flip it, rent it out or what? If you want to flip it maybe after rehabbing, then the revitalization may be less significant. However, if you are going to hold it for long term rental or appreciation, then you have to make sure what is happening about the revitalization.

Sean

@Michael S. Thank you so much! I will definitely take the course and learn from it!

Hi, my name is Sean. I am now 19 and I am a new immigrant from Hong Kong. I am interested in learning about real estate and willing to be a bird dog. I am now still in college and trying to transfer to NYU or UPENN to study real estate there. I am currently seeking mentors. I am willing to spend my time and efforts to learn everything!