All Forum Posts by: Chingju Hu

Reason: Not many people in my circle is interested in real estate or doing it, I seem to be the only person thinking about early retirement. Wanna chat and meet other like-minded people.

This will be for anyone just starting out or have been doing it for a couple years.

Please reply and we can organize it when there are 5 people or more :)

5 Votes

San Francisco, California

I think you are not over-leverage and your cash flow is high. If you like to have more house I think you can pay off the $4000 first and then buy one house with loan, so you have the same number of house on a loan and will feel better than having one more on a loan

2 Votes

Originally posted by @Yuuj V.:

Hello BP!

At the current moment, I have about $50K liquid.

I already have a house with 25% equity on a $100,000.

The house has not had a tenant since I finished everything, hoping that changes real soon. (since about July)

I am hoping it brings in about $300+ in CF if my math is correct. That is including a PM to manage the property.

I see another house for $90,000, with an $18,000 downpayment, (And other costs ~$30,000) I could grab that house and, if my math is correct, will CF about $300+. (even with a PM)

I am stuck and not sure what I should do.

I am for a market crash, obviously no one can predict the future. So I want cash on hand, cash is king.

But I'm getting FOMO fever (Fear Of Missing Out).

Should I play it safe, and wait for property 1 to get rented so I can be a little on the safer side?

I was planning on saving up $100K for a 'Boardwalk' type property in MA, but thats such a large DP, I feel like I can do better with 1 - 2 other houses. This property is a 'heartland' type property, no where on the coast east or west. (or even south).

This is a good problem to have, but I'm not sure what I should be looking at or if my glasses are getting foggy.

My goal for 2020 is to have $10K passive income from properties, $350K - $500K in net worth.

This is doable, but my mind is going in so many different directions, its to the point of paralysis through analysis.

One property is based in IL, the other potential property is based in OH (I'm a long distance investor). Both are SFH's.

Insight is always appreciated.

Why don't you find a tenant first for your first property? why wait?

0 Votes

What's the price, tax, mortgage for each solution?

even if it's your parent's house, the number has to make sense,

0 Votes

@Ethan Schneider Don't rent to him because your friendship will be over when he stops paying rents and even destroy your property. You can't help him if he doesn't help himself. It sounds harsh but I would not stick my nose in his business . And absolutely don't give him money

0 Votes

Some cleaning solutions can really work wonder, suggest you clean it first before buying a new one.

0 Votes

Originally posted by @Ben Le Fort:

Hi All,

Quick summary, my wife and I are considering the possibility of moving in the next few years and are trying to figure out if our house would make a decent rental or if we should just sell and invest the profits.

Our house, 3 bedrooms 1100 St ft (plus finished basement) raised bungalow, with a giant backyard. In a very established neighborhood that has both similar houses to ours, much bigger houses on one end and multi-family rentals on the other end.

House is worth anywhere between $500-$520 we owe $330 and would be down to about $290 on the mortgage by the time we would consider moving.

My wife is concerned that our finishes on the inside of the house are "too nice" to be a rental. I'm split between that making it hard to rent or that being a good thing to price us in a range with higher quality tenants.

Would love to hear from you all on what you would do?

Thanks,

Ben

With 200k equity and only a couple hundred cash flow, it's not a great rental unless you really want to keep this house (tons memory and personal feeling attached to it), don't mind a low cashflow, and don't need equity right now.

but for most ppl on this forum, they can get at least $2000/month and more cashflow with $200k equity

0 Votes

Wow this is a very nice rehab considering that it's your first time!!

Amazing and inspiring!!

1 Vote

this is a very long list. I think that each state wll have some cities that's worth investing, and each city has some part of town that's particularly growing, and each part of the town has some streets that's in great neighborhood. And each street can have a couple houses that can be good deal. There are simply too many opportunities to choose from.

1 Vote

@Matt Gilroy you can tell them that you usually have an inspection scheduled every xx years at each of yout rental property. So you can inspect it without feeling bad and they will very likely understand it

0 Votes

All Forum Posts by: Chingju Hu

Chingju Hu has started 11 posts and replied 74 times.

Post: Meetup in San Francisco?

Post: Whats too much leverage?

Post: Buy new investment or hold off

Post: Should I buy my parent's house or a duplex?

Post: How do I help a friend that is struggling with his life?

Post: Tenant wants oven replaced, it's not broken

Post: Will My House Make A good Rental?

Post: How I dove into REI with a 7-plex and a modest income w/ pictures

Post: Best city/area to in buy and hold for cash flow in the U.S.

Post: Haven't inspected my rental house for a looonnggg time...