All Forum Posts by: Chuong Pham
Chuong Pham has started 7 posts and replied 35 times.
Post: Mortgage Lender in Collin County, Texas

- Real Estate Investor
- Plano, TX
- Posts 39
- Votes 13
RBFCU they are pretty good.
Post: Anyone seeing 1% rents?

- Real Estate Investor
- Plano, TX
- Posts 39
- Votes 13
Tampa seems to be another place.
Post: Is Dallas overvalued at the moment?

- Real Estate Investor
- Plano, TX
- Posts 39
- Votes 13
Compare to some part of Cali and New York prices in dallas have not reach their peak yet. Job growth and population growth are still increasing in all Texas market. If you are looking for a place to protect some of your money than Texas is a good place.
I personally invest in DFW and there are deals but there are so many investor from all around the country looking for 6-8% cap rate that any good property be out bid. Most of my deals are off market.
Just make sure you get a deal because you can't protect a bad investment.
Post: Looking for Multi Family Agent in the Florida Market

- Real Estate Investor
- Plano, TX
- Posts 39
- Votes 13
Wanting to expand my portfolio into multi family apartments in Florida since Texas is becoming an over price market.
Interested city in Florida are Tampa and Fort Mayer.
PM me your info so we can chat.
Thanks
Post: Starting out with 12/hr

- Real Estate Investor
- Plano, TX
- Posts 39
- Votes 13
I suggest working for a company that is involve in real estate. This will give you experience in the area. Construction company, be an agent, or anything related to real estate.
Post: MARKET CRASH - Thoughts?

- Real Estate Investor
- Plano, TX
- Posts 39
- Votes 13
The federal reserve and central banks are just preventing the inevitable from happening. Instead of letting the market correct itself sooner they just prolonging it with low interest rate.
Volatility and Risk are part of investing game. It just how you manage your overall portfolio.
My portfolio consist of 50% cash, 45% property, 5% stock. I try to keep my debt to asset ratio at 60-40 where 40% I have in debt.
Warren Buffet at the moment is holding about 86 billion in cash for some mysterious reason. I will bet my money with Warren that a discounts period will come soon. This current bull market is not sustainable.
Post: Triplex in Arlington Deal Help

- Real Estate Investor
- Plano, TX
- Posts 39
- Votes 13
Hi everyone,
I am currently looking at a deal that is listed on MLS as a triplex 2/1.5, 1/1, 1/1 but i believe it was a SFH that was converted to a tri. The property is also zone for commercial but sold as a tri residential. However that property is about 80K but it will need about 30-40K of reno done to make it livable.
This is the condition of the property.
1. 1 meter for both water and electric, Utility was estimated to be around 600 per month total for all 3 units.
2. Rent is combine is about 1300, but with improvement i think we can get about 1800-2000 in total rent
3. Taxes and Insurance base on my estimate are about 3000/yr
Base on my estimate this could be a potential value added rental with about 12-15% annual return. Also, the property will be the most expensive within a 1 mile radius after renovation.
My concerns and Questions:
1. Will this be an issue with the city when i start renovation due to the property being zone for commercial?
2. The property does not have a separate address can i just put a individual mail box for each unit?
3. How do i handle the utility expense split?
This will be a cash flow property for me. Thank you again for your help.
Post: Dallas/Fort Worth and surrounding area...Turnkey Properties

- Real Estate Investor
- Plano, TX
- Posts 39
- Votes 13
Post: Just cash out stock portfolio can I move it into real estate

- Real Estate Investor
- Plano, TX
- Posts 39
- Votes 13
Post: Reverse Close investing is it Legit?

- Real Estate Investor
- Plano, TX
- Posts 39
- Votes 13
@Jake Knight That is a good point you brought up. I think you are qualifying as an investor. From the information that was presented to me by the agent. Person B does not have any credit but have cash type of income so that's why they are not able to get a loan from the bank. Agent stated that there are several banks that will work this type of deal.
The agent mention that the buyer (person B) will put 30% down in cash to the bank for this loan and person A as the mortgage holder have put down 10%. Person A hold the deed to the property. The high down payment is to reduce risk to the bank and the mortgage holder base on what the agent mention.
For Example:
Property Value: 200,000
Down Payment (B): 60,000
Down Payment (A): 20,000
30 Fix Loan: 120,000 @ 4.00%
Mortgage for person A: 573.00
Mortgage for person B @ 10%: 1053.00
Monthly Passive Income: 480.00 or 5,780 (annual)
ROI for Person A: 28.8%
It seems too good to be true.