All Forum Posts by: Brandon Ngo

Can someone explain to me the different advantages and disadvantages of working at a brokerage with a percentage based commission vs flat fee? Thanks!

I've recently been looking into properties in my area for the past few weeks and I realized that the average prices are pretty high. A SFH can easily exceed $200k with rehabbed ones going for much higher. In my plan for a first property would most likely be househacking a 3-4 unit property. But the prices here in Utah are pretty high for multifamily properties and I can easily see myself dropping 80k+ on just rehab and down payment onto a single property. In the numbers I ran, I found it a little bit hard to get a significant cashflow and CoCROI especially with SFHs but it's definitely possible. Since, the prices were so high, I started looking out of state and I found that both Colorado and Nevada are fairly good states to invest into and since they are neighboring states, I was thinking of maybe moving out of state since it's fairly close to home. I really don't want to move away from all my family and friends so does anyone have any advice or are in similar situations?

@Dan Sheeks Already doing everything you recommended :)

@Jared Maches Thank you!

@Jaysen Medhurst Thanks for the advice! Saying that I buy a 3-4 unit property with a low interest conventional loan, that would mean I wouldn't have to live in it right? Also how would that affect the renovation costs? Would the PMI theoretically drop if the ARV lowered the LTV? Sorry for all the questions, just a little confused as I'm pretty new to the field.

Hello everyone! I'm a recent high school graduate and currently working on obtaining my real estate license. I live in a slightly more expensive area (Salt Lake City) where a duplex may generally go for around 250k+ I was thinking about a first rental to be a duplex financed with a FHA loan to allow for a lower down payment of 3.5% because at my age a 20% down payment of 50k is not easy:/(not only that but renovation costs as well) I was hoping to live in the duplex for a year (to meet FHA rules) or two to qualify for tax free capital gains if I choose to sell within 5 years and to rent out both units after moving out. I was wondering if anyone else had similar situations and or ideas on how much the cashflow would be affected? Any advice is helpful! Thank you for taking the time to read!