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All Forum Posts by: Victor Lau

Victor Lau has started 5 posts and replied 22 times.

Post: What is your strategy right now?

Victor Lau
Posted
  • Posts 22
  • Votes 5
Originally posted by @Sean Doherty:

Im also new but i can suggest Episode 311 with J Scott. He has some good tips on what to do when preparing for a recession. I'll have to relisten to get all of his tips but some that I remember are securing low interest access to money so you have the capital to invest when prices are lower, keep flip projects on the shorter simpler side to decrease the amount of time you may be exposed to a recession, and be more conservative in your numbers.

 Listened to that episode not too long ago too and that's what got me thinking about this.  I'll probably have to listen to it again.  Gotta love podcasts!

Post: What is your strategy right now?

Victor Lau
Posted
  • Posts 22
  • Votes 5
Originally posted by @JD Martin:
Originally posted by @Victor Lau:

Title meant to say "what is your strategy right now?"  *facepalm*  Any moderators can help a newb out and make the correction.  @Mindy Jensen ? Thanks!

 Done!

 Thanks!

Post: What is your strategy right now?

Victor Lau
Posted
  • Posts 22
  • Votes 5

Title meant to say "what is your strategy right now?"  *facepalm*  Any moderators can help a newb out and make the correction.  @Mindy Jensen ? Thanks!

Post: What is your strategy right now?

Victor Lau
Posted
  • Posts 22
  • Votes 5

Hey Everyone, 

   With a supposed recession looming in the future.  What is your current strategy for the near future?  What are the veterans doing?  What are the newbies doing?  Please share as I’m a newbie as well and I’m trying to learn from the pros.  TIA!

Post: Hello from San Francisco, CA! Just discovered BP!

Victor Lau
Posted
  • Posts 22
  • Votes 5
Originally posted by @James Wise:
Originally posted by @Victor Lau:

Hey Fellow Members!  

  I'm from San Francisco, Ca and after running my Small Business for over 10 years, I'm ready to taper off from the daily grind.   In search for a new revenue stream I came across BP and investing in RE as a source for passive income.   I'm hoping with this new found appreciation for Real Estate, I can spend more time with my Son and Wife!  I know it ain't easy, but looking forward to learning from the Pros and looking forward to meeting you all in this amazing community!  

  I'd like to ask...Where is everyone here investing in right now and are you seeing the 1% RTV in your area?

-Victor 

 Welcome to the site Victor.

Thanks!  Timing is kinda funny Bc I was looking in Cleveland just a few days ago!  If it’s ok I’m going to message you! 

Post: Hello from San Francisco, CA! Just discovered BP!

Victor Lau
Posted
  • Posts 22
  • Votes 5
Originally posted by @Ali Boone:
Originally posted by @Victor Lau:

Hey  @Ali Boone I know in SF it's a hard find. Anywhere outside if the city you recommend looking? I'm currently exploring the San Antonio TX area for my first investment. Even there it seems hard to hit the 1% RTV. I want to implement the BRRRR strategy in SA so maybe then the 1% RTV is more achievable.

1% RTV can be a good early-shopping guideline number, but don't stay crazy-focused on it. Look at actual numbers rather than ratios. If you stick just to ratios, you're going to end up with something potentially unexpected for numbers. 

San Antonio used to have it, not sure they do now. Texas in general is hard because of stupidly high property taxes and insurance. I'd look more at the Midwest or some of the northeastern cities like Philly or Baltimore.

@Ali Boone thanks for the heads up.  Taxes from what I know is about 2%!  I'll take a look at some of the cities you recommended.  

Post: Hello from San Francisco, CA! Just discovered BP!

Victor Lau
Posted
  • Posts 22
  • Votes 5

Hi @Steve Rozenberg , thanks for your advice. Really looking to supplement my current income with some passive income from SFH. Trying to start small right now to get my feet wet, since my business is still growing. Eventually, get to a point in the future where I can get a few MFH that can cover my current income and more.

Post: Hello from San Francisco, CA! Just discovered BP!

Victor Lau
Posted
  • Posts 22
  • Votes 5
Originally posted by @Blake Edwards:

@Victor Lau - Congrats on your journey into RE Investing!  We hold meetups pretty regularly and there is one this month in San Jose.  

https://www.biggerpockets.com/forums/521/topics/702194-david-greenes-criteria-for-analyzing-a-deal-in-5-minutes

 Hey Blake,  thanks for the invite!  Thursday’s are hard when you have a kid who has tests the following day! LoL...hopefully I can get to one of the meetups in the future. Do you hold meetups closer to the Peninsula from time to time?

Post: Hello from San Francisco, CA! Just discovered BP!

Victor Lau
Posted
  • Posts 22
  • Votes 5
Originally posted by @Ali Boone:

No 1% RTV in San Fran, but you can get it out-of-state. I'd say San Fran-ers fall into one of two categories-- 1. die-hard going to invest in SF and somehow make the lack of cash flow work, or 2. out-of-state investors.

If you're goal is passive income, you've got to figure out where the cash flow is coming from.

Hey  @Ali Boone I know in SF it's a hard find. Anywhere outside if the city you recommend looking? I'm currently exploring the San Antonio TX area for my first investment. Even there it seems hard to hit the 1% RTV. I want to implement the BRRRR strategy in SA so maybe then the 1% RTV is more achievable.

Post: Texas Investment Properties

Victor Lau
Posted
  • Posts 22
  • Votes 5

Hi All,

I'm looking into SA for my first OOS property. Is there any specific area for B class properties you can suggest looking? I'm definitely looking for something I can get under market value where I can implement the BRRRR Stategy. Thanks!