All Forum Posts by: Alex Ng

Hi. I've been thinking about investing in Augusta GA. Im looking for 100k and under properties to begin with before going after the more expensive ones. Im looking to BRRRR. Im open to section 8. What zip codes should I look out for? What zip codes should I avoid? Im looking to build a boots on the ground team. Would love to connect! Thanks.

Hi im looking to flip houses here in SoCal. I've been having trouble finding deals. All the wholesalers I've been finding work for either Fair Trade or New Western. Is the market too oversaturated? Why is it so hard finding a deal here? Where can I find proper leads or wholesalers? Should I contact agents instead?

Hi, so I have someone in my network willing to sell their property to me. I do not have enough capital for a downpayment. My strategy is to conduct a sellers finance strategy where I incrementally pay them at 5% interest for 6 years (tentative) and then do a cash out refinance and pay them for the balloon payment. I am hoping to structure the deal where I can accumulate 25% equity during the seller's finance and be able to cash out refi 75% to pay the rest. The seller would have a lien position on this house. Does this help avoid the seller from making taxes?  Considering I'm doing a cash out refinance, im receiving money tax free and directly giving it to the seller. Does this mean the balloon payment they receive will not be taxed since it is debt? I'm hoping my strategy will work and incentivize the seller to do this deal as they will be paid interest and possibly tax free balloon payment? Can anyone give me insight on my strategy and explain how I should structure this?

I'm looking to invest in Birmingham due to its cheap prices. I drove to Birmingham today and I saw a lot of vacant and abandoned houses in the east lake area. I also saw that Birmingham is shrinking in population. Are the fundamentals not there? Is there not strong economic growth in this area? 

Hi im looking to invest in Birmingham Alabama. Im currently under contract for a multifam in East Lake. I heard East Lake is gentrifying. How long do you think it'll take for the neighborhood to gentrify? I drove around the area and a lot of houses still boarded up and its on a street by street basis. The multifam im buying on has some boarded up houses and some trash lying on the ground. What areas in Birmingham are gentrifying that I should invest in?

 Thank you for your reply. How many units do you have? At what number of units did you have that made you feel more confident that if something happened to one unit, the other units can take care of them?

Hi, I've recently bought one property and under contract for my second one. It's been a wild journey, learning as much as I can. As you scale more and have more properties, you also incur more debt. For people who own multiple units, how do you handle being in so much debt? I know it is good debt but debt is still debt. Are you ever worried if tenants would move out and you cannot cover the payment or if things break down, or god forbid a recession? I read how the more units you have, the "less risky" it can be because you have more units to fall back on if one tenant decided to vacate one unit. At what number of units did you feel comfortable that they would take care of each other if something happened? Are you ever worried if you were to go into foreclosure and lose all of your portfolio? What are some ways to hedge against risk? Will putting all my units into a LLC truly protect me if they were to all foreclose someday? I'd love to learn how to manage all the risk and debt as I continue to scale my portfolio.

I recently bought a new property with tenants. I am giving them a lease agreement and asking them for a security deposit. However, they told me that the previous owner did not return their security deposit. How should I go about this? Who should I reach out to? Should I reach out to the previous owner, the previous property manager? I was told to reach out to the title and closing company. 

HI I am looking for a good DSCR lender who will offer favorable terms and rates for a 6 unit apartment complex I have under contract in Birmingham Alabama. If you know any, please let me know. Thank you!

Yes, I have recently purchased a property in Birmingham Alabama.