All Forum Posts by: Dan Tran

I am looking at property and all my calculation requires me to ask for 40% less then asking price.

I am currently using 10% property manager, 5% maintenance, 10% capex, 5% vacancy, $125 monthly insurance.

Am I being to conservative with my numbers?

@Bobby Maynor I don’t plan on living in it. He is just trying to keep my rate and down payment low.

Hello BP,

I am getting started and just talked to a lender.

He said I can get a primary home loan if I keep my mailing address at the home of purchase even after I rent it out. Doing so will keep my interest rate at 3.7% or lower with down payment of 20% or less.

If I get a investment loan the rate jumps up to 4.7%-5.7% with a required down payment of 20% -25%.

What would y’all do?

Looking forward to it.

@Basit Siddiqi @Larry Alexander Thank you for the talk point!!

Starting my REI journey as a Buy and Hold and I wanted to reach out to a CPA to plan some tax strategy. I was wondering if I should ask any certain questions?

@Oscar Tol I have no experience, but that’s what most of my podcast/YouTube have talked about.

@Carl Amko Sure you have to pay twice for closing cost but wouldn’t paying a high interest rate from a hard money be equivalent to one of the closing cost?

Yall can find the events on the NETWORK/EVENTS from the nav bar.

"H.I.T. (Houston Investment Team) Houston's Inner Loop Meet Up" host once a month and I enjoyed the one time I attended. I do plan on attending to more.

Can't you still do a BRRR with 20% financing? Buy the property with a loan at below market value, fix it to force the equity and do a cash out refinance.

@Robert Carlson look into a series llc. Basically you set you up one llc and have house one in series 1, house two in series 2, etc. it will make everything into one llc but keep them separate. SOME states allow this so you should look into it.