All Forum Posts by: Steven Ko

@Diane G. Are you a social worker? God? Why are you so hung up on that fact that 3 people are sharing a bathroom. I grew up in Sunnyvale with my parents and we only had 1 bathroom. I don’t know what kind of house you live in but 1100 sqft for 3 people is PLENTY. Maybe if you let go of the fixation that 3 people sharing a bathroom is “a new low”, you can understand why it’s wrong.

i don’t get posts like this. It’s like asking, flying is faster, why do some people drive? Some of us just like the peace of mind it brings and growth isn’t the only thing on our mind. We all live different lifestyles and buying cash best serves my stress free life.

@Tyler Holmes I know this might sound like a broken record but you gotta find out your strategy. How much money will you really make? My fiancé bought a house right next to Mira Loma HS for 400k. We got family friends in there and we literally don’t think about it ever. It’s as smooth sailing as we can get (although it’s about ~$300/month under market value).

Then we moved across the country to Pittsburgh, PA ( that’s why the smooth sailing is very important to us). This is where we are buying 2 rentals for 65k and has the same net rent as our Sacramento house. There will be more issues with the houses here in Pgh but I have the time and friends to deal with it.

No one cares more about your money than you. You know your situation best. You should really read David Greene's BRRRR book. He will layout the groundwork for you. You just have to find out if you want to invest local or oos.

@Priyanka K. Just from personal experience. We set the final walk thru after we move out all our stuff. The final walk thru is usually set at normal business hours to meet with the PM and we give keys back then. If it does end up being late, I just leave the keys there and the PM does the final walk thru by themselves. I’ve never dealt with time limit. What happens if they go over the cut off time?

@John Farady maybe a different group of renters but I just looked at Avalon Bay Communities rent collection and it was 95% for May. Take a look at all the other apartment reits. Nareit says 94.3% for April and 94.7% for May.

@Bill Brandt I agree. Something fishy about it. Hard to take it for face value.

@Jack B. https://www.hud.gov/sites/dfiles/PA/documents/HUDAsstAnimalNC1-28-2020.pdf

I’d stay away. Is there a reason this guy would “help you out”? You know those too good to be true type stuff? You have no experience so maybe he’s hoping you will fail or can’t pay and the property will default back to him. Similar to a rent to own “scam”.

Here, I'll take the uncommon side on this and if you want triple Net lease, I'd invest in REITS. We just missed a HUGE opportunity in the REIT space. Specifically Realty Income (NYSE:O). They pay a monthly dividend, and if you can get them when they're closer to $50, you'll get really close to a 6%. Stag Industrials (NYSE:STAG) also yields over 5%, who owns, you guess it, industrial buildings. Getty Realty (NYSE: GTY) also yields over 4% which owns gas stations with conscience stores. Four corner property trust (NYSE:FCPT) also yields over 4% which owns restaurants. The list goes on and on. When these prices drop, You'll get Close to your 5.9 cap rate along with professional management and an acquisition team. Obviously do your own research. I just wanted to expand your tool belt.

You’re new to real estate. There are a bunch of shady people in the industry, along with a lot of cool people. It’s easy to dangle a 6M property to a new investor to get them all excited. I’d stick with the classic, learn to crawl before you walk, and learn to walk before you run. Or get a mentor who will follow you through but if all you have is “hustle” and no money, there’s already an ocean of people like you on BP.

Have you read David Greene's BRRRR book? He explains why he really likes it and how to do it. Good luck out there

Why is it even a question if you should return the money or not -.-

@Samuel Liapis maybe you should reread the first or two chapters of the book. That should answer your question. Or instead go buy Brandon’s book, no or low money down....