David Kim, CEO and Broker of Very Good Homes, Helps Individual Investors Achieve American Dream Through Rental Property Investment
American Dream is the reason why most immigrants moved to the United States and work hard day in and day out.
But what exactly is an American Dream?
While the answer may vary from individual to individual, it would be safe to say, at least for the first generation of immigrants, that owing a beautiful house and sending their kids to decent colleges would constitute achieving an American Dream.
But is owning just one house enough?
David Kim, the CEO and broker of Very Good Homes, doesn’t think so.
Kim, who worked at Re/Max from 2014 to 2021, thinks you should own at least 4 homes to say that you have realized American Dream.
“Among our parents’ generation, owning a house and having sent their kids to decent colleges would mean that their American Dream came true. However, if you understand how the American government and the real estate industry works, you would want to own at least 4 houses.” says Kim.
Among many freedoms of rights that Americans enjoy today, Kim thinks the ‘Freedom of Private Ownership’ is what separates the United States from rest of the world.
For example, if you invest in real estate in China, you would have to return the land to the government after about 90 years – the land belongs to the government, not the individuals.
In other parts of the world, strict government regulations and difficulties in bank loans make it difficult for individuals to invest in real estate, according to Kim.
“Many people talk about freedom in America, such as freedom of speech, freedom of religion and so on. But what makes the United States truly ‘American’ is the freedom of private ownership. That means you have the freedom to own as much real estate as you can and the government provides the resources. Ethnic community power is strengthened when people fully exercise this freedom.” emphasizes Kim.
Then, why 4 homes?
According to Kim, banks will offer up to 4 home loans to an individual. It used to be that the government allowed unlimited number of home loans to individuals but stopped when it realized it was being abused.
It’s still legally possible to receive up to 10 home loans, but most banks will stop at 4 loans for the sake of their convenience.
But you may wonder “What am I going to do with 4 homes? Isn’t one home enough for my family to live in?”
One of the areas in which David Kim’s Very Good Homes specializes is the rental property purchase and subsequent management.
Kim asserts that owning 4 homes would give enough foundation for individual investors to create steady rental income source and prepare for even an early retirement. This would not only produce steady income but will also create equity as the loans are being paid back.
While most individual investors find the rental property business attractive, the fear of having to find the tenant, collecting rents, and managing tenant complaints keeps them at bay.
This is where David Kim and Very Good Homes come into play. Very Good Homes offers complete one-stop rental property purchase and management services.
In current real estate market in North Texas, where the supply of homes cannot match the demand, it wouldn’t be too difficult to find potential tenants.
But what happens if the market condition changes and it becomes difficult to fill in rental homes with tenants?
David Kim utilizes his thorough understanding of the Affordable Housing policy to run the home rental business.
According to Kim, the City of Dallas has one of the most well-run Affordable Housing systems not only in Texas but perhaps also in the entire nation.
Based on his understanding of how Affordable Housing works, Kim would help investors pinpoint where to buy the rental property and fill it with tenants, virtually in no time.
Most of David Kim’s clients are ‘repeat customers’ – they purchased one rental home as a trial and kept coming back to purchase more homes after confirming how worry-free the process was.
For individual investors who are interested in rental property business, David Kim provides an in-depth ROI(Return on Investment) presentation, strictly based on objective numbers and data.
So, if you are willing to take your American Dream to another level, give David Kim a call or drop an email for an appointment.
CEO and Broker / Very Good Homes
4819 State Hwy 121 Unit 10
The Colony, TX 75056