OVERVIEW:

EPISODE HIGHLIGHTS:

• What was Vee’s upbringing like, especially as an immigrant from Vietnam? 
• Vee grew up playing volleyball and has become a volleyball coach here in the US. 
• Vee read Rich Dad, Poor Dad by Robert Kiyosaki, which led him to workshops and coaching in real estate. 
• When Vee got involved in real estate it was in the middle of the 2008-2009 financial crisis, with tons of foreclosures, so he was interested in buying wholesale from foreclosures. 
• He found a coach and bought his first property in only three months, and that was only five years after he came to the US. 
• As someone new to the country, Vee developed the confidence to pursue this line of work after he invested so much money into the coaching that he had nothing left to lose. 
• Vee learned that he didn’t need any liquid cash in order to make an offer to buy a property, he only needed to put earnest money down once an offer is accepted and contracts are signed, at which point Vee had time to flip the contract and sell the property to turn a profit. 
• After his second-ever deal went badly and he pulled out of it, Vee and his business partner bought a house to flip themselves. 
• Ten years later, Vee is interested in out-of-state investing. 
• Looking ahead, Vee wants to get into commercial investing, maybe with an apartment complex. 
• To build a team in a new market, Vee suggests doing a lot of research about job growth, population growth, and other data about the area to identify where to search for properties. 
• You can determine comparable rent in the area by asking other property managers in the area, going to Zillow.com, or RentOMeter.com.  
• Another option for getting to know an area is to do “mystery shopping,” by calling numbers on for sale signs and saying you’re an out of town buyer looking to move to the area. 
• People who are interested in investing in real estate but who don’t have a lot of time to wait on the market or shop around because they’re nearing retirement, Vee suggests finding a business partner. 
• Another option is a tax lien certificate where the government is your debt collector, but it requires a property where someone has defaulted on their property tax. 
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