All Forum Posts by: Johan Yang

@James Gates Congrat on your success!! and thank you for sharing. Do you happen to know if the lender you are using is also serving outside AL? My business partner and I have two rental properties in FL that we paid all cash (free and clear). Now, I wanted to do cash out refinance on both of them. I will private message you.

Question about your partnership where both name on the title ("some we are both on Title (if we both put up 50% of purchase + rehab costs)"). Did your partner contribute something else beside 50% capital which you also put up the same amount? It looks like you were the one who did all the work from finding the deals to managing the rehab, etc... And, do you self-managed all your properties?

Thanks.

@Caleb Heimsoth @Kyle J.  thank you

@Chris Mason @Mindy Jensen @Saravanan Saravanan @Jay Hinrichs thank you so much for your inputs. 

@Teho Kim I found a few good deals that cash flow pretty good on mls. Maybe, it also depends on which area you are looking for. I found it very hard to get good cash flow on A properties. You would find good cash flow more on B and C properties.

Don't be discouraged!! Keep looking.

Hi Everyone,

I was recently responding to a post on a meetup group "New York Real Estate Entrepreneurs" about a private loan with 5% interest. This guy, his name is Michael, said he could loan me $200K with 25years term @ 5%. It is too good to be true. We only communicated via email. And he is using a personal gmail michaeltreatloanservice. It seems unprofessional. I couldn't search him at google. He didn't ask me to pay any application fee in advance. He just sent me the application form to fill out. The application form asked for my compete name, address, DOB, Mother's maiden name, DL/ID #, and signature. Is this common for a personal private lender? Or he tried to scam me for identity theft?

I want to thank you for your input in advance.

you are welcome. Yeah, I would think so too. Maybe, this kind of investment requires a very hands on. Is that the case with you? Do you self-manage it or hire a property manager? I have read in some discussion that no property manager wants to take on room rentals client. 

@Glenn Samuels Would you share the connections to great ROI properties in Tampa area?

Sean, I just started being active in BP and saw your question. 

I am thinking to do the same thing like you in FL after I came across Dan Lane's podcast episode 198 that was talking about this kind of investment (see link below).  How is it going for you so far? Did you finally get any tips you were looking for?

Maybe you can contact brandoncorkins from Dan's podcast who is doing this investment in DC area. I am planning to email him too soon.

https://rentalincomepodcast.com/he-makes-6k-a-mont...

@Chris Trefry how is it going so far? Is your rental room-by-room investment working well/exceed your expectation? Do you self managing it yourself or you hire a property manager company? 

I am actually thinking about doing this too in FL. In term of the lease to individual, I would do the whole background check as you normally do with sfh to be in the safe side. I am planning to charge security deposit, first month rent, and last month rent as well (the same as what I did to my rental condo property).

Best of luck!!

@Kevin Yoo I heard something similar to that on a podcast, but as @Bruce May mentioned it comes with caregiver in the house. I think it calls Residential Assisted Living (RAL) or Assisted Living Home (ALH) Senior Living Home. And, I believe you need business license for that.