All Forum Posts by: Dani Sung

@Frederick Church, welcome to BP. We are neighbors, I live in Silverado Ranch. From your experience, where in Texas do you do your flips and found good deals? Thanks!

Welcome to BP. California average housing price is $500k, FHA loans you might get away with 5-10% down BUT that requires a ton of paperwork and really high income to qualify. Conventional loans are 20% down, you do the math. You can get hard money lender for min interest rate of 10%. Las Vegas prices are more reasonable, $200k can get you a nice 3/2 in a decent neighborhood.

I agree with @Louis Davis, for long term rentals, Green Valley is also a good bet. If you do airbnb, are you going to self manage or have a property manager? Because airbnb is short term, it has to be managed very differently than long term. 

If you go with Option A, it sounds like you have a very hard to deal with seller on your hands which would make later negotiations very difficult and stressful for you. Just my 2 cents. 

It's kind of low, generally around 4%, 5% max. 

Kudos for sharing!!! Very helpful!

I personally don't think 15% tax is deterring any of these wealthy foreign cash buyers from purchasing homes. I actually watch the Vancouver market pretty closely because I have a ton of friends living there and my extended family owned rental properties there. I would keep a close eye on the immigration policies which would influence prices much more than the 15% tax. Just my 2 cents. 

For multi-units I prefer vacant ones, due to it being vacant, many buyers steer clear of those, so I generally can negotiate for a better deal. However, the down side is it's harder to get conventional lending, so you might have to get creative to fund your deal. 

I have both Condos and SFR's and the Condos are kind of a headache due to the HOA's. They have ALOT of power over what you can and can't do. One of the condos I own in Vegas used to have an HOA fee of $146, then last year they decided to add a "reserve HOA fee" of $230 and that significantly cut into my cash flow every month! And now with this new addition, it's harder to sell as well b/c buyers also don't want to pay the additional HOA.

Hi Barbara, I recently found BP as well, and wish I had sooner! This place is amazing and tons of people willing to help! Good luck with your investing! :)